Re­port: Ul­tra-rich rise in main­land, Hong Kong

China Daily (Canada) - - NEWS CAPSULE -

The Chi­nese main­land and Hong Kong saw strong growth in the num­ber of ul­tra-wealthy peo­ple in 2016. Their fa­vorite as­set class is prop­erty, ac­cord­ing to a prop­erty in­vest­ment con­sult­ing firm.

The num­ber of ul­tra-high net worth in­di­vid­u­als, or UHNWIs, with net as­sets at or above $30 mil­lion, last year grew 10 per­cent on the main­land to 14,310, and 6 per­cent in Hong Kong to 4,080, Knight Frank said in its lat­est re­search into global prime prop­erty and in­vest­ment.

The com­pany sur­veyed more than 900 of the world's lead­ing pri­vate bankers and wealth man­age­ment ad­vis­ers.

Knight Frank also pointed out that UHNWIs’ fa­vorite as­set class was pri­mary res­i­dences and sec­ond homes, es­pe­cially lux­ury res­i­den­tial prop­er­ties. (Photo 1)

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