Mumbai ranks 21 in the City Wealth Index, ahead of Toronto, Washington DC and Moscow. Delhi at 35 is ahead of Bangkok, Seattle and Jakarta.These are some of the highlights of the Knight Frank Wealth Report 2017. The report tracks the growing super-rich population in 125 cities across 89 countries and provides perspective on issues that influence investment and lifestyle decisions of ultra high net worth individuals-UHNWI. This year's survey results are based on responses from almost 900 of the world's leading private bankers and wealth advisors.
UHNWIs are those with net assets worth over $30 m or roughly Rs.200 crore. The number of UHNWIs in India has shot up 290% during the past decade. India houses 2% of the world's millionaires at 13.6m and 5% of billionaires at 2,024. In India, Mumbai leads the race with 1,340 UHNWIs follo wed by Delhi (680), Kolkata (280) and Hyderabad (260).
Indian cities that saw a rise in UHNWIs from 2015 include Pune (18%), Hyderabad and Bangalore (both at 15%) and Mumbai (12%).
A total of 27% of Indian UHNWIs have already invested in collectibles such as art, wine or classic cars. Motor yacht is the most sought-after luxury asset followed by sailing yacht, race horse, private jet and sports team. In terms of the most expensive prime residential square metres of prime property US$1m will buy, Mumbai climbed up to 15 from 18 last year, ahead of Istanbul, Melbourne and Dubai.