17th editionDefinitions and dataHow we chose our coverEDITOR-IN-CHIEFHNWI:High-net-worth individual-someone with a net worthLiam Baileyof USS1 million or more,including their primary residenceEXECUTIVE EDITORUHNWI:Ultra-high-net-worth individual-someone with月ora Harleya net worth of US$30 million or more,including theirprimary residence.PRIME PROPERTY:The most desirable and most expensiveWRITTEN BYproperty in a given location,generally defined as the topKnight Frank5%of each market by value.Prime markets often have aResearchsignificant international bias in terms of buyer profile.Andrew ShirleyTHE PIRI 100:Now in its 16th year,the Knight Frank PrimeWorking alongside our creative agency,Wink,International Residential Index tracks movements in luxuryAntonia Haralambouswe started with a question:what is wealth?prices across the world's top residential markets.The index,Kate Everett-AllenIn the past.the answer might have focusedcompiled using data from our research teams around thePatrick Gowerworld,covers major financial centres,gateway cities andon equities,property,gold,bonds and digitalRuth Wetterssecond-home hotspots-both coastal and rural-as wellassets.Increasingly,though,a broader definitionWill Matthewsthat embraces the natural world -forests,oceans and climate -seems more appropriateMARKETINGTHE KNIGHT FRANK WEALTH SIZING MODEL:The model,created by our data engineering team,measures the sizeThis year's cover and dividers visualise manyLauren Haaszof HNWI,UHNWI and billionaire cohorts in more than 200of these concepts in a digital way,showing amatrix of the diverse range of materials thatPUBLIC RELATIONSof HNWIs and UHNWIs at city level for 100 global cities.represent wealth today.Astrid RecaldinSUB-EDITINGHNW PulseSunny CreativeDESIGN DIRECTIONKNIGHT FRANK HNW PULSE SURVEY:New for 2023is ourHNW Pulse Survey.This encapsulates the views of 500 HNWIsBRAND CREATIVEmainland,France,Hong Kong SAR,Italy,Singapore,Spain,CONSULTANTSwitzerland,the UK and the US.Conducted in January 2023WinkPORTRAITPHOTOGRAPHYrveyGraham LeeFRONT COVERon responses provided during November 2022 by more thanMainframe500 private bankers,wealth advisors,intermediaries andfamily offices who between them manage over US$2.5 trillionPRINTOptichromeAustralia,Bank of Singapore,Citi,Citibank,CommonwealthBank,Dry Assoclates,Genghis Capital Ltd,Harvest Financial,ALL KNIGHT FRANKHSBC Bank,ICEA LION,Ifigest,JB Were,Key Capital,CONTACTS:NCBA Group,Rothschild,Santander Bank,Stanbic Bankfirstname.Kenya,Standard Chartered Bank Singapore,UBS,Unitedfamilyname@Overseas Bank(Malaysia)Bhd,Walsh Bay Partners andWestpac for their participation.onng unde34,the