The Knight Frank Wealth Report 2025

Now in its 19th edition, the Knight Frank Wealth Report 2025 launched earlier this month and it’s fair to say, each year the report sits high on the agenda for those working within the real estate industry. Not only does it provide valuable insights into global wealth trends, but it looks at the dynamics shaping the lives of the world's wealthiest individuals. 

Here, we delve into the key findings from the report, understanding how they shed light on the current state of the global property market. 

Global wealth growth remains strong 

The global wealth landscape this year has been marked by resilience despite economic uncertainty, with the number of individuals in 2024 with assets exceeding US$10 million rising by 4.4%, reaching over 2.3 million globally. 

Whilst the wealthiest region remains dominated by the US - with nearly 40% of the world’s wealthiest individuals based there - a significant amount of growth over the last year has been driven by emerging markets, particularly in Asia and the Middle East, where the number of Ultra High Net Worth Individuals (UHNWIs) has surged. This shift indicates a diversification of wealth, with investors looking for new opportunities and safer havens in increasingly dynamic global markets. 

Is London still appealing to UHNWIs? 

The Wealth Report revealed $1 million (about £800,000) now buys you 43 sq m in London, up from 23 sq m a decade ago — a 43% increase, making the British capital better value than it has been for years. To put this into context, a 200 sq m penthouse would now cost you just short of $5.9 million, compared with the $8.7 million it would have cost ten years ago. 

This is down to prices decreasing over the past couple of years, while tax rises have deterred buyers from moving here, leading to one of the most stagnant periods for the London property market. However, with plummeting prices and a favourable currency fluctuation means that, although property in the capital is still among the most expensive in the world, it is significantly more affordable than it was a decade ago. 

With buyers getting significantly more for their money, London continues to be one of the leading destinations for UHNWIs and it remains one of the top cities for residential real estate investment, with its global allure as a cultural, financial, and political powerhouse undiminished.

The importance of real estate for UHNWIs

Another key finding from the report was that real estate continues to play a pivotal role in wealth preservation for UHNWIs, with the report revealing that 40% of wealthy individuals view property as a long-term investment. The global demand for luxury residential properties has remained robust, driven by the desire for both capital preservation and lifestyle enhancement.

The continued growth of prime and super prime markets in London was also highlighted, with demand for high-end real estate in sought-after locations like Mayfair, Knightsbridge, and Belgravia, remaining robust. This demand is fuelled by a strong interest for large, well-located homes offering both privacy and proximity to London's cultural, commercial, and educational institutions.

The future of wealth and investment 

Direct real estate ownership already accounts for 22.5% of the typical family office’s portfolio, and more than four in ten are looking to grow this allocation over the next 18 months. The report interestingly forecasts over the next year a continued shift towards more diversified and sustainable investments. Real estate of course will remain a core asset for the wealthiest individuals, but there will be an increasing focus on ESG (Environmental, Social, and Governance) principles and responsible investing.

The Knight Frank Wealth Report 2025 paints a picture of resilience and opportunity in the real estate market. As global economic conditions evolve, so too will the strategies of UHNWIs, but one thing remains clear: real estate will continue to be at the heart of global wealth.