UHNW News & Analysis
2 articles
Market Mood
Monaco ($1M) Offers 16 Sq Meters in Luxury Real Estate Market
According to Knight Frank's Wealth Report, $1 million buys 16 square meters (172 square feet) in Monaco, down from 17 square meters (182 square feet) in 2020. In Hong Kong, the same amount offers 22.5 square meters (242 square feet), whereas in New York, it secures 33.9 square meters (365 square feet). Prime real estate prices increased by 3.2% last year, outpacing the 2.9% growth of mainstream global housing prices. The report highlights Miami, Mumbai, and Brisbane as future luxury real estate hotspots for ultra-high-net-worth individuals (UHNW).
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UAE Wealth Report: 80% Expect Business Recovery Post-Conflict
In a recent report by Agility Research, which surveyed 300 high net worth individuals in the UAE, approximately 80% expect improvement in business conditions following a ceasefire between the U.S. and Iran. The report highlighted that 57% of UAE's wealthy own jewelry, 55% hold gold ETFs, and another 55% possess physical gold. High net worth and ultra-high net worth individuals are diversifying their portfolios, with gold ownership growing due to currency depreciation concerns. The reopening of the Strait of Hormuz is crucial for global oil supply, which could impact market stability in the region.
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