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The number of High Networth Individuals in India are expected to more than double over the next 10 years, rising by 126 per cent, leading to a trend of HNI's looking at investing in homes abroad, according to Knight Frank Wealth Report.
The report that has collated data on Prime Global Rental Index focuses on residential rental growth in emerging markets.
The report points that Prime Global Rental Index rose by 4.7 per cent in quarter ended March 2014. Nairobi topped the annual rankings for the fourth consecutive quarter while prime rents declined in Singapore, London and Hong Kong in the period. Dubai and Tokyo recorded the strongest rise in prime rents in the first quarter of 2014, according to the report.
"Rising interest rates could push would-be buyers into prime rental markets in cities such as London and New York in 201," added the report.
Kate Everett-Allen, Partner, International Residential Research at Knight Frank, said: “The key risks for the world’s sales markets could emerge as catalysts for growth in terms of prime rents.”
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