Synopsis
A recent report reveals that India's next-generation high-net-worth individuals are significantly interested in luxury investments, with 46.5% aspiring to own luxury cars and 25.7% looking to acquire luxury homes, highlighting a trend towards upscale assets.Key Takeaways
- 46.5% of young HNWIs want luxury cars.
- 25.7% are interested in luxury real estate.
- Delhi and Bengaluru are improving in the luxury market.
- Global luxury housing prices increased by 3.6% in 2024.
- Art collections and private jets are also popular among HNWIs.
Mumbai, March 5 (NationPress) The upcoming wave of Indian high-net-worth individuals (HNWIs) is increasingly gravitating towards luxurious investments, with 46.5 percent aspiring to possess a luxury vehicle, while 25.7 percent are eager to acquire a luxury residence, according to a recent report released on Wednesday.
Moreover, 25.7 percent of these individuals are focused on securing upscale real estate, ranking as their second most desirable luxury possession.
The findings from a Knight Frank report indicate that art collection ranks next at 11.9 percent, with 9.9 percent dreaming of owning a private jet.
The survey, targeting individuals earning over $125,000, also highlighted a fascination for other luxury items such as art collections, private jets, and superyachts.
Approximately 30 percent of the next-gen HNWIs showed a preference for luxurious real estate globally, followed by luxury vehicles at 27.8 percent, and private jets at 15.1 percent.
The data further emphasizes that both Delhi and Bengaluru have made significant advancements in the global luxury housing sector, evidenced by substantial gains in the Prime International Residential Index (PIRI 100).
The report highlighted that Delhi experienced the most notable growth, ascending from 37th position in 2023 to 18th in 2024. This remarkable leap was propelled by a 6.7 percent year-on-year increase in luxury housing prices.
Bengaluru also noted a favorable shift, moving up from 59th to 40th place as the city encountered robust demand in the luxury property market.
Overall, the report indicated that the global luxury residential market recorded an average price rise of 3.6 percent in 2024.
This expansion was particularly pronounced in regions like the Middle East and Latin America, where markets surged by 7.2 percent and 6.3 percent, respectively.
The report concluded that the vigorous performance in these territories was driven by local demand, with numerous markets showcasing positive growth even amidst broader global economic challenges.
