Knight Frank opens private office in Hong Kong
In an April 14 press release, Knight Frank states Tung’s appointment will further increase its special client base, specifically among ultra-high-net-worth individuals (UHNWIs), family office spaces and their advisors in Hong Kong together with mainland China.
Keong incorporates that the office has been established at “flawless timing”. “I anticipate working closely with him [Tung] to servicing our buyers that are situated in the region together, where business, investments, real property as well as lifestyles have been and continue to be enlaced.”
Knight Frank claims that private investors were one of the most intense purchasers in global commercial real estate venture in 2022, which is anticipated to continue this year.
According to Knight Frank’s most current release of The Wealth Report, 45% of Asia-Pacific HNWIs are anticipated to encounter a rise in abundance in 2023 contrasted to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Perspectives Survey respondents claimed their clients plan to buy a home in 2023.
Knight Frank has recently established a nonpublic office in Hong Kong, the second in Asia. Tung Ho-Pin has been designated to head the new office, advising exclusive customers on their global realty portfolios.
The opening of Knight Frank’s special business office in Hong Kong transpires a year after it established a private workplace in Singapore last February. “With Singapore and also Hong Kong being central to funding flows in the Asian territory, it makes good sense to open up a Private Workplace in Hong Kong also,” states Nicholas Keong, head of private workplace at Knight Frank Singapore.
The Landmark Condo MCC Land, SSLE Development, ZACD
Hong Kong, Singapore, and Sydney rank in the leading 10 cities for ultra-prime residential property purchases in 2022. 3 hundred forty-five super-prime revenues (sales transacted for at least US$ 10 million or $13 million) also 53 ultra-prime sales (negotiated for at the very least US$ 25 million) were recorded in all these metropolitan areas. On top of that, housing properties stay the more effective real estate investments for UHNWIs in the Asia-Pacific zone, especially in Greater China, where 32% of the overall wealth of HNWIs was allocated to their basic and also backup homes.
” We are delighted to have Ho-Pin take part in the Knight Frank Private Workplace. We set ourselves an eager target to be the market-leading, worldwide private consumer and even family office consultant in real estate, and Ho-Pin’s appointment gets us an action nearer to reaching our goal. His appointment enables Knight Frank to provide completely to our buyer’s needs in the region, instructing private buyers on all their property purchases, despite where in the globe they are happening,” claims Paddy Dring, head of the Knight Frank Private Office.
