SINGAPORE, April 4, 2013 /PRNewswire/ -- Wealth-X, the ultra high net worth (UHNW) business development solution for Global Private Banks, Luxury Brands, Educational Institutions and Non-Profits, has released a statistical profile of the typical Hong Kong ultra high net worth individual (UHNWI) based on demographic and wealth indicators.
Against the backdrop of a red hot premium property market, Hong Kong's ultra wealthy population holds US$43 billion worth of real estate assets, representing 9% of the total net worth of its UHNW population.
Gender representation among Hong Kong UHNWIs is skewed with a female among every 4 UHNWIs. The typical Hong Kong UHNWI is 57 years old, married and self-made with an average net worth of US$150 million and liquid assets of US$34 million. Collectively, Hong Kong UHNWIs own US$52 billion worth of luxury assets, ranging from private aircraft to art and collectibles. The average Hong Kong UHNWI owns US$14 million worth of real estate holdings.
"Among assets, real estate continues to dominate Hong Kong UHNWIs' luxury portfolios," Wealth-X CEO, Mykolas D. Rambus said. "The continuing allure of property is very much attributable to wealth creation particularly for Hong Kong where real estate has been the source of wealth for many of Hong Kong's storied billionaires that include Li Ka Shing, Lee Shau Kee and Cheng Yu Tung".
Mr. Rambus added, "Our analysis shows that UHNWIs above 70 years of age represent 25% of the Hong Kong UHNW population with an average net worth of more than US$100 million. Collectively, they hold more than 40% of the total wealth attributable to hectomillionaires. This means a significant phase of wealth transfer is likely to take place in the next 15-20 years. The ability to understand these UHNWIs and their social networks is key to success in becoming the chosen service provider in the wealth transfer process."
For the full profile, please visit http://www.wealthx.com/articles/2013/statistical-profile-of-the-hong-kong-uhnwi
Wealth-X provides detailed intelligence on ultra high net worth (UHNW) individuals globally. The firm's Wealth-X Professional solution is the standard for banking, marketing and not-for-profit professionals working with the ultra affluent. Wealth-X is headquartered in Singapore with offices in all major financial centres.
For more information about Wealth-X, please visit: www.wealthx.com