Millionaires in India go over 1, 00,000

June 29, 2007	(Be the first to rate this story!)  Loading ...
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Indian millionaire club is on its expansion. It is believed to have added over 17,000-dollar-millionaires in 2006, recording the highest growth in high net worth individuals (HNIs) after Singapore. Thanks to a record 8.8% real growth in gross domestic product (GDP), second only to China.

There has been a sharp increase in the asset values with the Sensex making rapid strides in the upcoming markets. India, Indonesia, and Russia are believed to be witnessing the highest growth in HNI populations, says the data showcased by the 11th annual world wealth report compiled by Capgemini and Merrill Lynch.

Investors are largely inclining towards property market, funding on the boom in commercial real estate and real estate investment trusts (REITs).

With a high rate of transparency in the sector, investing in properties has a low risk factor associated with it now.

Millionaires across the world are reported to have parked large money in real estate. The trend was a record high in Asia Pacific with 29% of their assets in property market as compared to 16% a year earlier.

The rich and super rich are more interested in cross border investments. Increasing awareness of international development, better portfolio performance, and risk mitigation are some of the factors encouraging their interests.

News Published Under:   Real Estate India |

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