Knight Frank, a global real estate consultancy, released its Wealth Report 2023, which provides insights into the trends and performance of the prime residential property market across the world. Among Indian respondents, the consultant said 88 per cent saw a rise in UHNWI’s (ultra-high-net-worth individuals) wealth in 2022.
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Among other findings, the survey report said that on an average Indian super rich owns more than 5 (5.1) residential properties compared to the global average of 4.2 units.
Around 37 per cent of the total wealth’s allocation is towards primary and secondary homes by Indian UHNWIs, of which 15 per cent allocation was towards residential property held outside India.
Knight Frank said that 14 per cent of UHNWIs purchased a home in 2022 and about 10 per cent are expected to make a new home purchase in 2023.
Amongst foreign locations the United Kingdom, United Arab Emirates and United States are the most preferred locations for purchasing homes.
The United Kingdom was the first preference with 47 per cent of respondents showing affinity towards it.
The second spot was taken by UAE (41 per cent), followed by USA (29 per cent) and Canada (18 per cent).
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