Mumbai’s luxury residential market, along with Singapore, Hong Kong and Australia, are set to take on London and New York, says Knight Frank’s top boss
Alistair Elliott, senior partner and group chairman of realty consultancy Knight Frank, since 2013, focuses on developing the firm’s global strategy. Recently in Mumbai, Elliott spoke to BlackBook about what’s making waves in luxury markets globally.
How do you define a luxury home?
The definition varies for each country and city. However, the best way to describe it is to say that luxury homes are the ones that attract the highest values. In London, a luxury home today could cost anything over 5 million pounds or more, and relatively speaking, that definition would be broadly the same around the world.
As per the latest Knight Frank Wealth Report, high-net-worth individuals are losing interest in property investments. Why?
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