Mumbai 7th in global rich population, Delhi 11th

Mumbai has secured the 7th spot in the list of top 30 global cities with high net worth individuals (HNWI) population, a survey conducted by real estate consultancy Knight Frank has said. Presently, the commercial capital of India has 2,105 HNWIs and is expected to touch 4,988 with a 137 per cent rise by 2022.

"Delhi is not too far behind Mumbai; it ranks 11th with a current HNWI population of 1,945 which is likely to grow by 120 per cent and reach 4,278 by 2022," it said.

According to Samantak Das, Director Research & Advisory Services, Knight Frank India, as of 2012, India ranks 5th out of the top 10 countries with the largest number of billionaires. This number is expected to grow from 122 in 2012 to 225 in 2022 reflecting a growth of 84 per cent during this period. It is interesting to note that both Mumbai and Delhi are expected to grow at a high rate which is comparable only with fastest growing cities like Shanghai, Beijing, Rio De Janeiro and Sao Paulo, he said.

According to Knight Frank's global cities survey, while New York and London top the list in the cities that matter to HNWIs, Mumbai stands only on the 38th spot of the top 40 cities.

As per its luxury investment index, the super-wealthy are also set to step up their interest in "investments of passion" such as art, fine wine, classic cars, coins and watches this year, especially those in China. Knight Frank's luxury investment index shows that classic cars have seen the largest appreciation in value over the last decade, with an average uplift in price of 395 per cent.

Liam Bailey, global head of residential research at Knight Frank, said: "In the next decade we will see the biggest increase in ultra-wealthy individuals in cities such as Sao Paulo, Beijing, and Mumbai."

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