Page 23 - Advice Matters - Byfields Wealth May 24

The Wealth Report 2024

in one minute…

4.2% US$12.9m

Wealth creation returns The 1% club
Worldwide the number of UHNWIs* rose 4.2% European hubs lead the “1% club” ranking led by
through 2023 Monaco, where US$12.9 million is the threshold**
28.1% 19%

Wealth prospects Commercial property appeals

The number of wealthy individuals globally is With 19% of UHNWIs planning to invest in
expected to increase by 28.1% over the five years commercial real estate in 2024, living sectors tops
to 2028 the wish list
81% 65%

Generational Shifts ESG in the spotlight
81% of affluent female Gen-Z’s expect to grow their Some 65% of UHNWIs are actively trying to reduce
wealth this year their personal carbon footprint
11% 11%

Becoming more diverse Luxury collectibles on pause

Women make up around 11% of global UHNWIs up Art (11%) was the only luxury asset to reach double-
from 8% less than a decade ago digit growth in 2023 with rare whisky (-9%) the
weakest performer
3.1% 10%

Prime property soft landing
The year ahead
The average value of luxury residential property
increased by 3.1% in 2023, with Manila (26%) leading Auckland (10%) leads our prime price forecast,
and Dubai (16%) in second place while Sydney (12%) is the frontrunner in rental
forecast for 2024
For more information contact liam.bailey@knightfrank.com
*Ultra High Net Worth Individual (someone with more than US$30 million in net assets) **The amount of wealth needed to enter the ranks of the wealthiest 1% of the population

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