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Ultra-high Net Worth Individuals (UHNWIs) are defined as individuals having a net worth of $30 million and above
A huge amount of wealth is set to be transferred to the 'avocado generation', and will transform demand in the property market.
According to Knight Frank's flagship report, "The Wealth Report 2024", the number of these ultra-rich in India will rise 50.1 per cent to 19,908 in 2028 from 13,263 in 2023.
The densely populated city saw prime properties appreciate more than 25% in 2023
The number of those worth $30 million or more rose 4.2% last year, with the U.S. set for a surge of over the next five years, according to Knight Frank