Mumbai has been ranked 21st, ahead of Toronto, Washington DC and Moscow, in the “City Wealth Index” list in the Knight Frank Wealth Report 2017. Delhi has been ranked 35th, ahead of Bangkok, Seattle and Jakarta. The report was published on Wednesday.
The report tracked “super-rich population” in as many as 125 cities across 89 countries. The “ultra-high-net-worth individuals” in India rose by 290% in the past ten years, the report said. These individuals are those whose net assets are worth $30 million (around Rs 200 crore) or more. The results in the report are based on responses from almost 900 of the world’s leading private bankers and wealth advisers.
Mumbai is home to 1,340 such individuals, the highest in the country, followed by Delhi with 680, according to the report. Kolkata and Hyderabad have 280 and 260 UHNWIs respectively. Under the “future wealth” category, Mumbai has been ranked 11th, ahead of Chicago, Sydney, Paris, Seoul and Dubai.
The Indian UHNWIs prefer owning properties in countries such as Singapore, United Kingdom, United Arab Emirates, United States of America and Hong Kong, the report added. Mumbai has also been ranked 15th under the “most expensive prime residential city”, ahead of Istanbul, Melbourne and Dubai.
Pune, Hyderabad, Bangalore and Mumbai are among the top cities that saw a rise in UHNWIs since 2015. Motor yachts, sailing yachts, race horses, private jets and sports teams were the top five luxury assets that Indian UHNWIs are interested in investing, the report said.
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