关于优质房地产和投资的全球视角—第19版

The global perspective onprime property and investment 19th edition Definitions and data How we chose our cover EDITORLiam Bailey HNWI High-net-worth individual – someone with a net worth ofUS$1 million or more. In our Wealth Sizing Model (page 14),we define HNWIs as those with a net worth of at leastUS$10 million. MANAGING EDITORSunny Creative MARKETINGSally Ingram UHNWI Ultra-high-net-worth individual – someone with a networth of US$30 million or more. In our Wealth Sizing Model(page 14), we define UHNWIs as those with a net worth ofat least US$100 million. PUBLIC RELATIONSEmma Cotton DESIGN &DIRECTIONWinkreativeQuiddity Media PRIME PROPERTY The most desirable and most expensive property in a givenlocation, generally defined as the top 5% of each market byvalue. Prime markets often have a significant internationalbias in terms of buyer profile. FRONT COVERBirch Creative Ltd THE PIRI 100 Now in its 18th year, the Knight Frank Prime InternationalResidential Index tracks movements in luxury prices acrossthe world’s top residential markets. The index, compiledusing data from our research teams around the world, coversmajor financial centres, gateway cities and second-homehotspots – both coastal and rural – as well as leading luxuryski resorts. PRINTOptichrome This year’s cover underscores the connectionsbetween global markets and the ability of investors toengage with opportunities anywhere in the world. Byplacing the globe inside a landscape, the illustrationnot only highlights our ability as advisors to bring theworld to our clients but also emphasises the increasingimportance of environmental considerations as thenext generation begins to create and manage wealthportfolios. The illustration conveys the scale of boththe uncertainty and the prospects that investorsface. As we note in this edition, while volatility ineconomics and geopolitics appears to rise inexorably,the prospects for growth remain compelling for thosebrave enough to look beyond the risks. ALL KNIGHT FRANKCONTACTSfirstname.familyname@knightfrank.com THE KNIGHT FRANK WEALTH SIZING MODELThe model, created by our data engineering team, measures the size of wealth cohorts globally. FIND OUT MOREKnight Frank Research provides a range of market- leading insights through the year covering allmajor global real estate sectors and markets. Toget the best of Knight Frank straight to your inbox,visitknightfrank.com/ResearchNewsletters No part of this publication shall be reproduced, stored in a retrieval system, or transmittedin any form or by any means, electronic, mechanical, photocopying, recording or otherwise,without prior written permission from Knight Frank for the same, including, in the case ofreproduction, prior written approval of Knight Frank to the specific form and content withinwhich it appears. Important notice© 2025. All rights reserved. This publication is produced for general outline information only, it is not definitive and it isnot to be relied upon in any way. Although we believe that high standards have been used inthe preparation of the information, analysis and views presented, no responsibility or liabilitywhatsoever can be accepted by Knight Frank for any errors or loss or damage resultantfrom the use of or reference to the contents of this publication. We make no express orimplied warranty or guarantee of the accuracy of any of the contents. This publication doesnot necessarily reflect the view of Knight Frank in any respect. Information may have beenprovided by others without verification. Readers should not take or omit to take any action asa result of information in this publication. Knight Frank LLP is a member of an international network of independent firms which mayuse the “Knight Frank” name and/or logos as all or part of their business names. No “KnightFrank” entity acts as agent for, or has any authority to represent, bind or obligate in any way,any other “Knight Frank” entity. This publication is compiled from information contributedby various sources including Knight Frank LLP, its direct UK subsidiaries and a network ofseparate and independent overseas entities or practices offering property services. Togetherthese are generally known as “the Knight Frank global network”. Each entity or practice inthe Knight Frank global network is a distinct and separate legal entity. Its ownership andmanagement is distinct from that of any other entity or practice, whether operating under thename Knight Frank or otherwise. Where applicable, references to Knight Frank include theKnight Frank global network. Knight Frank LLP is a limited liability partnership registered inEngland with registered number OC305934, the registered office is 55 Baker Street, LondonW1U 8AN, where a list of members’ names may be inspected. In preparing this publication, Knight Frank does not imply or establish any client, advisory,financial or professional relationship, nor is Knight Frank or any other person providingadvi