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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

主要心得

  • 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.

在持續供不應求、移民人數創新高,以及學生住房、可建可租和共同生活等租賃需求上升的推動下,澳洲的生活領域為機構資本帶來了巨大的機遇。這些動力支持租金成長、高出租率,以及可擴展的投資平台,提供穩定且與通貨膨脹掛鈎的收入來源。與此同時,醫療保健房地產和老齡化相關資產提供了長期、跨十年的需求,鞏固了澳洲對於尋求彈性回報的耐心資本而言,是一個引人注目的市場。.

伊朗與美國於 4 月 8 日宣佈脆弱的停火協定,雖然協定條款的不確定性以及霍爾木玆海峽航運的持續中斷,仍引發了急劇的風險上漲,但近期仍需謹慎。傳聞中的中國調解角色是一個建設性的發展。若能達成可信的解決方案,恢復石油流動,亞洲風險資產將大幅受惠。另外,美國經濟增長疲弱,部分原因是石油價格上升成為需求稅,這可能促使聯儲局在 2026 年稍後時間採取寬鬆政策,為亞洲股市和貨幣帶來額外的利好因素。.

日本 是近期事件最多的市場。日本央行在 4 月 27-28 日會議上的加息預期是現實的(~50-60% 可能性),雖然我們傾向於在工資數據和衝突解決之前的夏季行動。鑑於投資者熟悉加息週期及實際收入增加,我們預期加息不會對日本房地產投資信託基金(J-REITs)造成重大負面影響。東京寫字樓的基本因素仍然非常緊絀(8% 的租金年增長率,2.2% 的空置率),主要開發商 2026 財政年度 3 月的業績/指引是即將出現的主要催化因素。J-REIT 在第一季表現不佳,可能反映日本機構在財政年度結束時的拋售壓力,而非基本面惡化。.

澳洲 澳洲央行(RBA)面臨分歧(上次決議為 5:4),若供應帶動通貨膨脹造成需求毀滅,澳洲央行可能不需要如預期般大幅收緊政策。Stockland 和 Mirvac 的住宅股價格有多年折讓,若宏觀數據疲弱,則可能大幅重估。Goodman Group 預期會上調全年指引;Scentre Group 的指引看似保守,但可能帶來正面驚喜。.

新加坡和香港 儘管衝突帶來風險,但兩者均以穩健的基本營運趨勢進入報告季節。新加坡住宅市場表現強勁;新加坡房地產投資信託基金(S-REIT)的數據中心類股仍顯得異常,儘管基本因素強勁且收益率吸引,但相對於美國同業(DCREIT +2.4% vs. Digital Realty +22.4%YTD),其表現仍大幅落後。新加坡金管局預計將允許新元升值以管理通脹,從而控制國內利率。香港方面,第一季成交量按年上升 46%,至 23,300 個單位,但若地緣政治氣氛惡化,庫存過剩及擠迫的推售管道將帶來需求空洞的風險。大型發展商(新鴻基按年升46%,按年升111%)已經艱苦經營;風險回報在目前水平較難吸引投資者。.

近期主要催化因素: 日本央行 MPM(4 月 27-28 日)、日本 CPI(4 月 24 日)、澳洲央行決策(5 月,待定)、主要開發商盈餘

以下是近期 APREA 新加坡會議的主要要點,在此次會議上,業界領袖和專家探討了房地產的市場趨勢、資金流向和新興機會。儘管討論中承認了近期的不確定性,但總的情緒集中在為下一階段的增長定位。這些重點抓住了目前影響整個地區投資策略的核心主題。.

亞太地區數據中心市場概覽

亞太地區持續大幅成長,在 2025 年間增加了約 1,557MW 的營運容量。同期,開發管道也增加了 5,033 兆瓦。儘管營運存量大幅增加,但空置率卻從 2024 年下半年的 12.4% 下降至 2025 年下半年的 10.9%,反映出亞太地區對數位基礎設施的強勁需求。.