real estate currency trades and market timing were among the major ways in which the wealthiest of the wealthy grew their net worth last year 12 months marred by challenging economic conditions according to a report tuesday from knight frank using data from its annual attitudes survey of more than 500 private bankers wealth advisors and family offices conducted in november combined with intel from industry experts the real estate consultancy found that four in 10 ultrahighnetworth individuals grew their wealth during 2022 “despite a year of permacrisis” permacrisis is defined as an extended period of instability and security for a sizable 46 of the survey respondents real estate was the top investment opportunity whether “for its attributes as an inflation hedge or due to the benefits of diversification” flora harley partner residential research at knight frank said in the report “many panelists highlighted the opportunity to secure enhanced return profiles as a key advantage plus when investing directly real estate enables greater control and valueadd opportunities” she said “one in 10 respondents specifically cited looking for attractive valuations and distressed opportunitiesthat trend isn’t limited to real estate either equities and the technology sector were tipped by around a third of our respondents” more from penta hauser  wirth institute’s mission to make artist archives freely available on the flip side the study found that the individuals who saw their wealth shrink last year attributed it to financial markets and interest rate moves knight frank said in 2023 real estate is expected to remain a top opportunity for ultrahighnetworth individuals to create and grow their wealth as is the tech sector and equity markets “with 68 of ultrahighnetworth individuals expecting to see wealth growth in 2023—we are anticipating a substantial shift in portfolio strategy—with a search for value opportunities in the real estate sector playing a much bigger role than in recent years” liam bailey global head of research at knight frank said in the report “downward pressure on property values due to higher interest rates has created a window for private capital—especially as we enter this new market phase with historic lows in terms of the stock of bestinclass property in residential and commercial markets” he added