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Mumbai, April 23, 2026: Knight Frank, the leading independent global property consultancy today launched its landmark 20th edition of The Wealth Report 2026, which reveals a dramatic acceleration in global wealth creation despite substantial geopolitical uncertainty, concerns over rising interest rates and uneven economic performance. The world’s ultra-high-net-worth1 individual (UHNWI) population increased to 713,626 in 2026 adding 162,191 since 2021 when the population count was at 551,435 – adding an average of 89 new UHNWIs every day in the last five years.

Mumbai, April 23, 2026: Knight Frank, the leading independent global property consultancy today launched its landmark 20th edition of The Wealth Report which reveals a dramatic acceleration in global wealth creation despite substantial geopolitical uncertainty, concerns over rising interest rates and uneven economic performance. The world’s ultra-high-net-worth individual (UHNWI, USD 30m+) population increased by 162,191 between 2021 and 2026 – equivalent to 89 new UHNWIs every day – bringing the global total to 713,626.

Chennai, April 23, 2026: Knight Frank, the leading independent global property consultancy, in its landmark 20th edition of The Wealth Report 2026, highlighted that Chennai now accounts for 4.8% of India’s ultra-high-net-worth (UHNW) population. This marks a rise from 1.3% in 2015 to 4.8% in 2025. On a global scale, the ultra-high-net-worth individual (UHNWI) population (USD 30 mn+) grew by 162,191 between 2021 and 2026—adding the equivalent of 89 new UHNWIs every day. This takes the total global UHNW population to 713,626.

Bengaluru, April 23, 2026: Knight Frank, the leading independent global property consultancy today launched its landmark 20th edition of The Wealth Report. According to Knight Frank’s Prime International Residential Index (PIRI) Tracker: How much prime property does USD 1mn buy?, Monaco retains its position as the world’s most expensive prime residential city in 2025, where with USD 1mn, one can purchase just 16 square meters (sq m) of prime residential space, followed by Hong Kong (23 sq m) and Geneva (28 sq m).

This year’s edition of The Wealth Report reveals how private capital is adapting to a fractured geopolitical landscape, seeking agility, targeting value‑add opportunities and responding to significant shifts in real estate markets

主要收获

  • The “flight-to-quality” movement that was evident in the previous quarters seem to have tapered off, which was supported by the lack of new supply of premium office buildings and strong occupancies of existing buildings.
  • According to data compiled by Savills, the vacancy rate for CBD Grade A offices dipped by 0.1 of a percentage point (ppt) quarter-on-quarter (QoQ) to 6.6% in Q1/2026. This was the second consecutive quarter of decline and the lowest since Q3/2024 when vacancy was at 6.1%.
  • The limited supply pipeline and low vacancies of premium offices enabled landlords to have strong holding power and increase the asking rents. As such, average CBD Grade A office rents continued to rise for the eighth consecutive quarter by 0.6% QoQ to S$10.02 per sq ft in Q1/2026.
  • Although geopolitical tensions remain high, the low vacancy levels and a low new supply environment is shoring up Grade A CBD office rents. Considering all these points, we have revised our rental forecast for 2026 upward, from 2% to a range of 3%–5% year-on-year (YoY) growth. Gross rents could receive additional upward support should energy costs rise further, and landlords pass these increases through to tenants.

在持续供不应求、移民人数创历史新高,以及学生公寓、"可建可租 "公寓和共同生活等租赁需求不断增长的推动下,澳大利亚的生活行业为机构资本带来了巨大机遇。这些因素支持了租金增长、高入住率以及可扩展的投资平台,从而提供了稳定的、与通胀挂钩的收入流。与此同时,医疗保健不动产和老龄化相关资产也提供了长期的、数十年的需求,从而巩固了澳大利亚对于寻求弹性回报的耐心资本来说是一个引人注目的市场。.

4 月 8 日宣布的脆弱的伊朗-美国停火协议引发了急剧的风险反弹,尽管协议条款的不确定性和霍尔木兹海峡航运的持续中断都要求我们在短期内保持谨慎。传言中的中国作为调解人的角色是一个建设性的发展。一个恢复石油流动的可信决议应能使亚洲风险资产大幅受益。另外,美国经济增长疲软,部分原因是石油价格上涨成为需求税,这可能促使美联储在 2026 年晚些时候采取宽松政策,为亚洲股票和货币带来额外的利好。.

日本 是近期事件最多的市场。日本央行将在 4 月 27-28 日的会议上加息(概率约为 50-60%),但我们倾向于在工资数据和冲突解决之前在夏季加息。鉴于投资者对加息周期和实际收入增长的熟悉程度,我们预计加息不会对日本房地产投资信托基金产生实质性的负面影响。东京写字楼的基本面仍然异常紧张(8% 的租金年增长率,2.2% 的空置率),主要开发商 2026 财年 3 月的业绩/指导是即将到来的关键催化剂。日本房地产投资信托基金在第一季度表现不佳,可能反映了日本机构在财政年度结束时的抛售压力,而非基本面恶化。.

澳大利亚 面对澳大利亚央行的分歧(上次决定为 5:4),如果供应驱动型通胀导致需求破坏,澳大利亚央行可能不需要像人们担心的那样激进地收紧货币政策。住宅类股 Stockland 和 Mirvac 的交易价格处于多年来的折价水平,如果宏观数据疲软,则可能出现大幅重估。预计嘉民集团(Goodman Group)将上调全年业绩指引;Scentre Group 的业绩指引似乎较为保守,可能会带来正面惊喜。.

新加坡和香港 尽管冲突带来了风险,但这两家公司都以稳健的基本运营趋势进入了报告季。新加坡住宅市场表现坚挺;新加坡房地产投资信托基金(S-REIT)的数据中心类股票仍是一个明显的反常现象,尽管基本面强劲且收益率诱人,但与美国同行相比,其表现大幅落后(DCREIT +2.4% vs. Digital Realty +22.4% YTD)。新加坡金管局预计将允许新元升值以管理通胀,从而控制国内利率。在香港,第一季度交易量同比增长 46%,达到 23,300 个单位,但如果地缘政治情绪恶化,库存过剩和拥挤的推出渠道将带来需求空洞的风险。大市值开发商(新鸿基累计同比增长 46%,环比增长 111%)的表现已十分疲软;在当前水平,风险回报的吸引力较低。.

近期主要催化剂 日本央行 MPM(4 月 27-28 日)、日本 CPI(4 月 24 日)、澳大利亚央行决议(5 月,待定)、主要开发商财报

在最近举行的亚太房地产协会新加坡会议上,行业领袖和专家们探讨了房地产资产的市场趋势、资本流动和新兴机遇。虽然讨论承认近期存在不确定性,但总体情绪集中在为下一阶段的增长定位。这些要点捕捉到了目前影响整个地区投资战略的核心主题。.

亚太地区数据中心市场概况

亚太地区继续大幅增长,在 2025 年期间增加了约 1557 兆瓦的运营容量。同期,开发管道也增加了 5033 兆瓦。尽管运营存量急剧增加,但空置率却从 2024 年下半年的 12.4% 下降到 2025 年下半年的 10.9%,反映出亚太地区对数字基础设施的强劲需求。.