Knight Frank opens private office in Hong Kong
Knight Frank has set up an exclusive office space in Hong Kong, the second in Asia. Tung Ho-Pin has been appointed to direct the brand-new business office, guiding exclusive customers on their worldwide realty portfolios.
In an April 14 press release, Knight Frank says Tung’s appointment will better broaden its exclusive buyer base, specifically amongst ultra-high-net-worth folks (UHNWIs), family workplaces and their experts in Hong Kong and mainland China.
According to Knight Frank’s newest release of The Wealth Record, 45% of Asia-Pacific HNWIs are anticipated to encounter an increase in abundance in 2023 compared to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Attitudes Survey participants claimed their clients plan to get a residential property in 2023.
” We are thrilled to have Ho-Pin join the Knight Frank Private Office. We set ourselves a determined target to be the market-leading, international exclusive consumer and even home workplace advisor in property, as well as Ho-Pin’s appointment takes us a step nearer to getting to our goal. His appointment allows Knight Frank to cater totally to our customer’s demands in the location, urging private buyers on all their realty purchases, no matter where in the world they are taking place,” states Paddy Dring, head of the Knight Frank Private Office.
Keong includes that the workplace has been built at “remarkable moment”. “I anticipate working carefully with him [Tung] to service our buyers who are located in the region jointly, where local business, assets, real property and also way of lives have actually been and remain to be enlaced.”
Hong Kong, Singapore, and even Sydney rank in the best 10 cities for ultra-prime property purchases in 2022. 3 hundred forty-five super-prime revenues (sales negotiated for a minimum of US$ 10 million or $13 million) including 53 ultra-prime sales (transacted for a minimum of US$ 25 million) were filed in all these cities. Additionally, residential facilities continue to be the more suitable estate financial investments for UHNWIs in the Asia-Pacific region, especially in Greater China, where 32% of the overall wealth of HNWIs was allocated to their main and backup houses.
Knight Frank claims that exclusive investors were one of the most engaged customers in worldwide profitable property assets in 2022, which is presumed to carry on this year.
The opening of Knight Frank’s exclusive workplace in Hong Kong comes about a year following it established an exclusive workplace in Singapore last February. “With Singapore as well as Hong Kong being key to funding flows in the Asian area, it makes good sense to open an Exclusive Office in Hong Kong as well,” states Nicholas Keong, head of private office space at Knight Frank Singapore.