“What stands out for me this coming year," said Liam Bailey, global head of research at Knight Frank, "is that despite a darkening economic outlook, wealth creation will remain a constant in 2019 with the global UHNWI population set to rise by more than a fifth over the next five years.
“Despite the risks from Brexit, London will remain the leading global wealth centre in 2019. With the world’s largest UHNWI population, the city sweeps the board in our annual City Wealth Index, pushing its only serious rival, New York, into second place.
“The wealthy will continue to demand access to global markets, especially as emerging economies see growth rates slow and the search for diversification grows. A record 26% of global UHNWIs will begin to plan for emigration this year, and to help them a record number of countries will offer citizenship and residency through investment schemes.
“As wealth moves more rapidly around the world, investors will become increasingly active in their investment strategies. Rising interest rates and the end of quantitative easing mean we are reaching the end of the 'everything bubble'. In the past decade it was enough to buy classic cars, art or property and the generosity of central banks would help deliver super-charged returns. As this process unwinds, property investors will become increasingly focused on income, asset management and development opportunities.”