Luxury cars, high-end real estate most preferred assets for next-gen rich Indians

Mumbai, March 5 (SocialNews.XYZ) The next generation of Indian high-net-worth individuals (HNWIs) is showing a strong interest in high-end investments as 46.5 per cent aspire to own a luxury car, while 25.7 per cent have expressed a desire to own a luxury home, a new report said on Wednesday.

Additionally, 25.7 per cent of them have a keen interest in acquiring high-end real estate, making it their second most preferred luxury asset.

According to a Knight Frank’s report, art collection follows with 11.9 per cent, while 9.9 per cent dream of owning a private jet.

The survey, which focuses on individuals with an income of over $125,000, also revealed interest in other luxury assets such as art collections, private jets, and superyachts.

Nearly 30 per cent of the next-gen HNWIs preferred high-end real estate globally, followed by luxury cars at 27.8 per cent, and private jets at 15.1 per cent.

It also revealed that Delhi and Bengaluru have made notable strides in the global luxury residential market as both cities saw significant improvements in the Prime International Residential Index (PIRI 100).

The report revealed that Delhi saw the most remarkable growth, jumping from 37th place in 2023 to 18th in 2024. This impressive rise was driven by a 6.7 per cent year-on-year (YoY) increase in luxury residential prices.

Bengaluru also saw a positive change, moving up from 59th to 40th place as the city witnessed a healthy demand in the luxury property segment.

The report also highlighted that the global luxury residential market as a whole saw an average price increase of 3.6 per cent in 2024.

This growth was particularly strong in regions like the Middle East and Latin America, where markets grew by 7.2 per cent and 6.3 per cent, respectively.

The strong performance in these regions was driven by regional demand, with many markets showing positive growth despite broader global economic challenges, said the report.

Source: IANS