Knight Frank’s well-respected Wealth Report was presented in its Monaco Launch Edition on Wednesday, November 22, at the Monaco Yacht Club.
Organised in conjunction with Balkin Real Estate, Knight Frank’s local partners, and Barclays Monaco, the event focussed on wealth trends during the current year and predictions for 2024, particularly in the context of prime real estate.
During 2022, Zurich’s top-end real estate prices rose by 3.5 percent with Monaco at 3 percent. Madrid, Paris, Lisbon and Dublin outperformed with all expected to see price growth of 4 percent, the latest Wealth Report states.
Monaco remains steadfastly at the top of the square-metre price pyramid, with $1 million buying 17 square metres of prime luxury internal floor space, way ahead of London (34 square metres), 37 square metres in Geneva and 43 square metres in Paris.
The Report touches upon many investment sectors of interest to UHNWIs, but in more general terms the outlook is positive, the Report’s authors argue. Despite significant risks in the global economy, above-target inflation and interest rates still rising, it’s now time to look beyond the ‘permacrisis.’
PHOTO: Jack Brodie
