Knight Frank has released the 17th edition of ‘The Wealth Report 2023’

Current Affairs

  • Knight Frank has released the 17th edition of The Wealth Report 2023, which provides insights into the trends and performance of major residential property markets across the globe.
  • Monaco remains the most expensive city in the world, where you can get just 17 square meters of space for US$1 million. It is followed by Hong Kong, New York and Singapore.
  • The survey also found that investable wealth of Indian UHNWIs is largely allocated between equities, real estate and bonds.
  • Out of the total investable wealth, highest allocation is in equities at 34 per cent, followed by commercial property (25 per cent), bonds (16 per cent), private equity/venture capital (10 per cent), gold (6 per cent) and passion led investment (like art, car and wine) at 4 per cent.
  • Allocation in equities is higher by Indian UHNWIs than wealthy people globally.
  • The optimism of the ultra-wealthy on wealth generation here is far higher than their global counterparts and this shall serve as the bedrock of investment and consumption decisions.

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