Ultra-rich rise globally; in mainland and HK, they love property
By Duan Ting in Hong Kong | China Daily | Updated: 2017-03-13 06:52
The Chinese mainland and Hong Kong saw strong growth in the number of ultra-wealthy people in 2016. Their favourite 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 per cent in Hong Kong to 4,080, Knight Frank said after releasing 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.
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