Hong Kong Property Remains One of the World's Top Wealth Hubs for Billionaires and HNWIs
Hong Kong's Position in the Global Wealth Landscape
According to a recent report by Knight Frank, Hong Kong property remains a significant attraction for high net worth individuals (HNWIs) and billionaires. As of last year, an estimated 42,715 HNWIs reside in Hong Kong, representing around 0.6% of its 7.53 million population.
HNWIs and Billionaire Rankings
Hong Kong ranks as the 10th largest wealth hub globally, with a total wealth held by billionaires amounting to US$330 billion. Despite being behind the US and mainland China, Hong Kong still boasts a substantial presence in wealth management.
- US leads with 905,413 HNWIs
- Mainland China follows with 471,634 HNWIs
- Japan is third with 122,119 HNWIs
Investment Opportunities and Immigration Scheme
Martin Wong, Knight Frank's senior director, highlighted that the new Capital Investment Entrant Scheme has attracted over 800 applications within ten months, indicating high interest from wealthy individuals and investors. The expected investment might exceed HK$24 billion.
Conclusion: The Future of Wealth in Hong Kong
As new schemes emerge, Hong Kong is likely to fortify its status as a primary hub for wealth management. Its luxury property market remains second only to Monaco. With fine wines' availability at top restaurants, the city also continues to charm affluent visitors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.