Knight Frank opens private office in Hong Kong
Keong includes that the workplace has been established at “impressive timing”. “I expect working carefully with him [Tung] to servicing our customers that are situated in the place together, where company, assets, real property as well as lifestyles have been and remain to be enlaced.”
” We are delighted to have Ho-Pin sign up with the Knight Frank Private Workplace. We prepared ourselves an eager focus on to be the market-leading, worldwide private client and even home workplace expert in realty, and Ho-Pin’s appointment takes us an action nearer to reaching our aim. His appointment allows Knight Frank to cater totally to our client’s requirements in the region, instructing exclusive clients on all their real estate deals, no matter where in the world they are happening,” says Paddy Dring, head of the Knight Frank Private Workplace.
In an April 14 announcement, Knight Frank says Tung’s appointment will better expand its exclusive consumer base, particularly among ultra-high-net-worth folks (UHNWIs), family offices as well as their experts in Hong Kong along with mainland China.
According to Knight Frank’s newest edition of The Wealth Record, 45% of Asia-Pacific HNWIs are forecasted to experience a rise in abundance in 2023 compared to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Attitudes Study participants claimed their customers intend to purchase a home in 2023.
Knight Frank claims that private real estate investors were the most engaged purchasers in international commercial real estate assets in 2022, that is anticipated to proceed this year.
Knight Frank has recently established a private office in Hong Kong, the second in Asia. Tung Ho-Pin has been assigned to lead the brand-new workplace, instructing special customers on their international property portfolios.
Hong Kong, Singapore, along with Sydney place in the leading 10 cities for ultra-prime property transactions in 2022. 3 hundred forty-five super-prime revenues (sales transacted for at the very least US$ 10 million or $13 million) including 53 ultra-prime sales (negotiated for a minimum of US$ 25 million) were recorded in all these cities. Additionally, housing premises continue to be the more suitable real estate investments for UHNWIs in the Asia-Pacific area, especially in Greater China, where 32% of the complete riches of HNWIs was designated to their main and backup houses.
The opening of Knight Frank’s exclusive business office in Hong Kong transpires a year following it set up an exclusive workplace in Singapore last February. “With Singapore as well as Hong Kong being central to resources flows in the Asian territory, it makes good sense to open up a Private Workplace in Hong Kong as well,” claims Nicholas Keong, head of exclusive workplace at Knight Frank Singapore.