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Wealth Report 2021 From Knight Frank

The following is the Wealth Report 2021 From Knight Frank recommended by And this article belongs to the classification: Investment & Economy, Life data, research report.

Knight Frank released the 2021 wealth report to assess how ultra-high net worth people have changed.

The global response to the epidemic supports the rich

As interest rates fell and fiscal stimulus intensified, asset prices rose sharply, driving global ultra-high net worth people up 2.4% in the past 12 months to more than 520000.

The trend is in North America and Europe, but the real rise is in Asia.

Asian wealth story is the key

The growth rate of ultra-high net worth individuals in Asia is the fastest, with a growth rate of 39% and a global average of 27%.

By 2025, Asia will have 24% of ultra-high net worth people, up from 17% a decade ago.

Inequality will increase the risk of wealth accumulation

Nearly half expect growth in wealth inequality to stimulate demand for policies aimed at curbing imbalances, particularly wealth taxes.

The world will become less global

84% of respondents expect that tourism will continue to decline this year. 11% of Asia’s ultra-high income housing purchases are expected to be driven by educational motivations, with an increase in the number of families permanently moving to educational centres, with London as the main target.

The rich still need to choose

Although people’s desire for tourism has decreased, nearly a quarter of ultra-high net worth people plan to apply for second passport or citizenship, an increase of 50% in one year.

Long live the city

Instead of destroying cities, the pandemic shows the potential of urban regeneration.

In 2021, London and New York will remain at the forefront of wealth, investment, business influence and innovation.

House prices are rising because of the pandemic

Auckland led the gains with an 18% increase, reflecting New Zealand’s robust treatment of the covid-19 and rising house prices in markets hit by the pandemic.

The small housing boom triggered by the pandemic will last until 2021

26% of the ultra-high net worth people plan to buy a new house in 2021, and the biggest driving force is to upgrade the main residence.

Looking forward to more private real estate investment

Private investors’ allocation of capital is still 9% higher than the 10-year average, far stronger than institutional investors.

Pandemic is driving real estate innovation

Compared with 12 months ago, 43% of investors are more interested in investment focusing on environment, society and Governance (ESG), and they expect the demand for green and energy-efficient buildings to grow rapidly.

Luxury investment confirms the continued pursuit of returns

Investors continued to drive up the value of key collectibles assets over the past year, led by handbags (+ 17%), fine wines (+ 13%) and classic cars (+ 6%).

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