What stands out for me this coming year is that despite a darkening economic outlook, wealth creation will remain a constant in 2019 with the global UHNWI population set to rise by more than a fifth over the next five years. Liam Bailey, global head of research at Knight Frank said: “We regularly get asked by clients to predict what might happen in the year to come in terms of wealth creation, wealth movement and luxury property prices globally. 31% of all global commercial real estate transactions involve private capital.63% of the world’s ultra-high-net-worth population saw an increase in their wealth in 2018.Manila leads Knight Frank’s Prime International Residential Index with prices rising by 11% in 2018.Whatever the Brexit outcome, London will remain the leading global wealth centre, and retakes top spot in Knight Frank’s City Wealth Index.2019 will be the year the number of US$ millionaires globally exceeds 20 million for the first time.In the four major economic cities of the GCC countries, (Abu Dhabi, Dubai, Jeddah and Riyadh), UHNWI growth over this period is expected to register at 15%.In the Middle East the UHNWI population is forecast to grow by 20% over the same time period. The global UHNWI population is forecast to rise by 22% over the next five years.The annual publication includes the Knight Frank City Wealth Index price movements across 100 luxury residential property markets the results of Knight Frank’s Luxury Investment Index and, the Attitudes Survey. Knight Frank has launched the 13th edition of The Wealth Report, providing the global perspective on prime property and wealth.
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