HNWIs in India to double in the next decade
The Knight Frank Wealth Report that released on Monday stated that the number of high net worth individuals (HNWIs) in India is being expected to become more than double over the upcoming decade rising by 126 percent.
The report also stated that increasingly all these HNWIs would like to look for investing in homes abroad. Knight Frank Research collated data is based on the Prime Global Rental Index, which primarily shows light on the residential rental in the emerging markets like Nairobi and Dubai.
Nairobi and Dubai continues to outpace the traditional financial centres of London and Hong Kong. As stated by the report, the Prime Global Rental Index rose by more than 4.7 percent in the year to March 2014. The prime rents in the Kenyan capital, Nairobi has increased by almost around 26 percent in the year to March 2014.
The rental rates are increasing in Nairobi and Dubai in comparison to most of the major financial centres due to the pacing development in these places. Individuals are willing to buy or rent a property in these developing prime locations. The high net worth individuals will hopefully increase as being expected by the officials.
Source: The Times of India
