In March 2025, the London-based global property consultancy firm Knight Frank released the 19th edition of The Wealth Report 2025. India secured the 4th position globally, with an estimated 85,698 High Net-Worth Individuals (HNWIs) in 2024, marking a 6% increase from the previous year and accounting for 3.7% of the world’s wealthy population.
The United States remains the leader with 905,413 HNWIs, followed by China (471,634 HNWIs) and Japan (122,119 HNWIs). The report defines HNWIs as individuals possessing at least USD 1 million in investable assets. Globally, the number of HNWIs increased by 4.4%.
India also ranked 3rd in terms of billionaires, with 191 billionaires in 2024.
In luxury real estate, Delhi improved its ranking from 37th (2023) to 18th (2024) due to a 6.7% year-on-year increase in luxury residential prices. Bengaluru moved up from 59th to 40th place, while Mumbai dropped from 21st to 28th in the index.