Expectations for rising interest rates haven`t dampened the appetite of the world`s ultra-wealthy to scoop up property investments, the Knight Frank`s 2017 Wealth Report found.
"A lot of high net worth individuals, not only are they heavily invested in property, but they`re showing intentions to increase their allocations to property over the coming years," Nicholas Holt, head of research for Asia-Pacific at Knight Frank, told CNBC`s "Squawk Box" on Wednesday.
But he noted that after many global cities introduced cooling measures on the residential property markets, including additional taxes, ultra-high net worth individuals (UHNWI) have moved to increase their exposure to commercial property.
The survey was released on Wednesday.
Asia`s UHNWI allocated around 29 percent of their portfolios toward real estate, compared with the global average of 24 percent, the survey of around 900 private bankers and wealth advisors representing more than 10,000 clients found.
0 comments:
Post a Comment