The growth of India’s super-rich is expected to rocket faster than any other country in the world over the next five years.



Knight Frank’s Wealth Reports pegs India’s super-rich population to grow by 73% by 2024.



Bengaluru and the Wadala Truck Terminus in Mumbai have been pegged as the up and coming favourite for investors looking to pump money into real estate.






Top 10 countries with the most UHNWIs Country Population of UHNWIs US 240,575 China 61,587 Germany 23,078 France 18,776 Japan 17,013 UK 14,367 Italy 10,701 Canada 9,325 Russia 8,924 Switzerland 8,395

India's super-rich are pegged to grow faster than any other country in the world over the next five years. Knight Frank's Wealth Report predicts that India will see the highest growth in super-rich population, forecasting a 73% increase.Ultra-high-net-worth individuals (UHNWIs) are those with a net worth of $30 million and more — also known as the super-rich. In 2019, the world saw a 6.2% increase in the super-rich despite the global economic slowdown. Over the next five years, they are set to grow by 27% globally with India leading the pack.“This reflects the positive sentiment captured in our Attitudes Survey, with 55% of respondents expecting their clients’ wealth to increase in 2020,” said the report.A large part of the UHNWIs wealth is invested in real estate . Currently, cities like New York, London and Paris lead the pack. However, the South Indian city of Bengaluru was pegged as the up and coming favourite for investors.Even the Wadala Truck Terminus in Mumbai is on investors’ radar with them hoping that the transformation of the 288-acre area will be akin to the development of Bandra Kurla.The overall five-year forecast for Asia, pegged at 44%, is twice that of North America’s projected rate. Asia is an “unstoppable trend” but it’s not without its faults, according to David Bailin. “Asia’s capital markets are one-fifth of the size they need to be to support the growth,” he points out.Right now, the US leads the pack with 240,000 UHNWIs. Even China, which comes in second, only has 61,587 people who have more than $30 million. India still has a way to go before it can crack the top 10, with only 5,986 of them.The Knight Frank report expects the global millionaire and billionaire population to continue growing as well — the former more than the latter.