Where Will The Ultra Rich Invest In 2024?

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Real estate consultancy firm Knight Frank released its list of the world's ultra-wealthy population that showed the segment saw an increase of 4.2% in 2023

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It also said that a total of $483 billion is waiting to be invested in 2024 across the globe. So, where do the rich plan to park their money?

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More than a fifth of global ultra-high-net-worth individuals (UHNWIs) are planning to buy a property in 2024, as per Knight Frank

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The report also said that the most in-demand markets are Auckland and Mumbai and residential market is less hard hit than commercial real estate

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For the world's wealthiest, prime properties are at the focus. The report noted that despite high interest rates, these properties grew by 3.1%

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According to Knight Frank, Middle Eastern and Asian investors are expected to have the most appetite to buy commercial real estate

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The report also expects approximately 40% of corporate IT expenditure to be directed towards AI-related projects by next year

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A sizeable increase in demand for data centres, especially close to cost-effective energy sources is highly expected

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Sustainability is increasingly at the focus of the wealthiest of the world and two-thirds of UHNWIs are attempting to reduce their carbon footprint

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Finally, Knight Frank said that growth in subsequent years will be driven from Asia, overwhelmingly from India and China

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