Knight Frank opens private office in Hong Kong
Knight Frank has already created an exclusive office in Hong Kong, the 2nd in Asia. Tung Ho-Pin has been designated to lead the new workplace, instructing exclusive clients on their worldwide realty profiles.
Knight Frank claims that exclusive investors were one of the most intense purchasers in international commercial property venture in 2022, which is expected to proceed this year.
The opening of Knight Frank’s private business office in Hong Kong transpires a year after it set up a private office in Singapore last February. “With Singapore and Hong Kong being main to capital flows in the Asian area, it makes sense to open a Private Workplace in Hong Kong as well,” says Nicholas Keong, head of private workplace at Knight Frank Singapore.
Keong includes that the office space has actually been developed at “remarkable moment”. “I look forward to working very closely with him [Tung] to service our clients who are situated in the place together, where local business, financial investments, property as well as way of livings have been and continue to be enlaced.”
According to Knight Frank’s most current version of The Wealth Report, 45% of Asia-Pacific HNWIs are predicted to encounter an increase in abundance in 2023 compared to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Mindsets Study participants said their clients plan to get a residential property in 2023.
” We are pleased to have Ho-Pin join the Knight Frank Private Office. We established ourselves an ambitious focused to be the market-leading, worldwide private customer and family office expert in property, and Ho-Pin’s appointment takes us a step nearer to getting to our objective. His appointment enables Knight Frank to cater totally to our buyer’s requirements in the region, urging exclusive clients on all their property purchases, despite where in the world they are taking place,” says Paddy Dring, head of the Knight Frank Private Workplace.
Hong Kong, Singapore, and even Sydney place in the best 10 cities for ultra-prime property transactions in 2022. Three hundred forty-five super-prime sales (sales transacted for at the very least US$ 10 million or $13 million) and 53 ultra-prime sales (transacted for at least US$ 25 million) were documented in these cities. Furthermore, housing properties remain the better property financial investments for UHNWIs in the Asia-Pacific area, particularly in Greater China, where 32% of the total wealth of HNWIs was alloted to their primary and also secondary residences.
In an April 14 press release, Knight Frank says Tung’s appointment will definitely even more increase its exclusive consumer base, specifically amongst ultra-high-net-worth people (UHNWIs), family offices and also their advisors in Hong Kong and mainland China.