Knight Frank, the leading International Property Consultants launched the half-year update of The Wealth Reportthat takes a deeper dive into the wealth distribution data from the 2018 edition of The Wealth Report, by analysing the population of global demi-billionaires.
The analysis highlights that in five years’ time the number of demi-billionaires, those with $500 million or more in net assets, in Asia will overtake those in North America for the first time. Wealth data specialists Wealth-X predict that there will be almost 3,000 people based in Asia who have more than US$500 million in assets by 2022.
Knight Frank cites strong global economic growth, as well as rising asset prices as key drivers behind the growth in the world’s demi-billionaire population. By 2022, Wealth-X anticipates that there will be 9,570 demi-billionaires worldwide, up from 6,900 at the end of 2017.
Key Takeaways – India
Knight Frank’s Prime International Residential Index (PIRI), City 20:
Source: All data comes from Knight Frank’s global network with the exception of Tokyo (Ken Corporation); New York (StreetEasy); Los Angeles and Miami (S&P CoreLogic Case-Shiller); Berlin (ImmobilienScout 24); Vancouver (Dexter Associates Realty, Real Estate Board of Vancouver)
Key Takeaways – Global
Shishir Baijal, Chairman & Managing Director Knight Frank India said, “The latest Wealth Report Autumn Update 2018 captures interesting perspectives of the global wealthy on a range of factors concerning their decisions on wealth and spending.
Closer home, the report’s findings show that prime residential markets in cities such as Mumbai and Delhi have remained largely stable in the last five years, which creates a good entry opportunity for buyers. At the same time, the number of demi-billionaires has been steadily increasing in India and is poised to grow by 70% by 2022, clearly underscoring the potential for demand and price growth going forward.”
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