Knight Frank opens private office in Hong Kong

The opening of Knight Frank’s private business office in Hong Kong transpires a year just after it set up an exclusive office in Singapore last February. “With Singapore and also Hong Kong being central to capital flows in the Asian area, it makes sense to open a Private Workplace in Hong Kong too,” claims Nicholas Keong, head of private workplace at Knight Frank Singapore.

Knight Frank has created a private workplace in Hong Kong, the second in Asia. Tung Ho-Pin has been appointed to lead the new business office, instructing private clients on their international realty portfolios.

” We are delighted to have Ho-Pin sign up with the Knight Frank Private Workplace. We set ourselves an ambitious focused to be the market-leading, worldwide special client and even house workplace advisor in real estate, as well as Ho-Pin’s appointment takes us an action closer to getting to our objective. His appointment allows Knight Frank to serve fully to our client’s demands in the region, instructing exclusive customers on all their property purchases, no matter where in the world they are occurring,” states Paddy Dring, head of the Knight Frank Private Workplace.

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According to Knight Frank’s most recent edition of The Wealth Report, 45% of Asia-Pacific HNWIs are predicted to experience a rise in abundance in 2023 compared to 25% in 2022. In Asia-Pacific, 16% of The Knight Frank Mindsets Study participants stated their buyers plan to acquire a house in 2023.

In an April 14 news release, Knight Frank claims Tung’s appointment will better grow its special client base, specifically amongst ultra-high-net-worth people (UHNWIs), family office spaces and their advisors in Hong Kong and mainland China.

Knight Frank says that private investors were the most engaged purchasers in global commercial realty venture in 2022, that is anticipated to proceed this year.

Hong Kong, Singapore, along with Sydney rank in the best 10 cities for ultra-prime property purchases in 2022. 3 hundred forty-five super-prime sales (sales negotiated for a minimum of US$ 10 million or $13 million) also 53 ultra-prime sales (negotiated for at least US$ 25 million) were filed in all these metropolitan areas. On top of that, non commercial properties remain the more effective property investments for UHNWIs in the Asia-Pacific region, specifically in Greater China, where 32% of the complete wealth of HNWIs was designated to their main and backup homes.

Keong adds that the office has been developed at “flawless timing”. “I eagerly anticipate working closely with him [Tung] to servicing our customers who are situated in the area together, where company, investments, property and way of livings have actually been and remain to be entwined.”

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