Knight Frank Wealth Report 2024 | Indian ultra-HNIs to allocate 32% of wealth to realty within the year

Knight Frank India expects Indian ultra-high net worth individuals (UHNIs) to allocate nearly 32% of their wealth towards real estate investments, primarily in purchasing residential properties over the next 12 months.

The Knight Frank Wealth Report 2024 has identified Mumbai as one of the leading luxury residential markets globally, ranking it eighth on the list. In contrast, Delhi and Bengaluru secured positions at 37th and 59th, respectively, in the rankings.

Speaking further about the UHNIs, Gulam Zia, Senior Executive Director at Knight Frank India said, “The growth in number of UHNIs is jumping up and in next five years it is going to go up more than 50%; while in rest of the world the rate of growth shall still be about 27 to 28%, India's rate of growth of UHNIs is going to be double of that.”