Hurun Report: High-net-worth families increase gold investment and reduce housing area.

On March 21st, Hurun Research Institute released the "Hurun Best of the Best 2025 - Report on the Quality Life of China's High - Net - Worth Individuals". The report shows that in 2024, the scale of China's high - end consumer market decreased by 2% year - on - year to 1.63 trillion RMB. The traditional luxury goods market declined overall, with a drop of more than 8%. The growth mainly came from high - end services (such as hotels and tourism) and the luxury car market with a price of over 500,000 RMB.

In terms of consumption, the average annual material consumption of high - net - worth families decreased by 12% in the past year, a reduction of 280,000 RMB. Gold remains the investment that will increase the most in the next year, while real estate investment will still be the one with the largest reduction.

This is the 21st consecutive year that Hurun Research Institute has released this report. The current survey covered a total of 750 high - net - worth Chinese individuals with assets of over 10 million yuan, including 32 ultra - high - net - worth individuals with assets of over 100 million yuan. The average total family assets of the respondents were 47.5 million yuan, and the average investable assets were 12 million yuan. The average area of their regular residences was 270 square meters, and the average number of permanent residents in their homes was 4.4.

"The average area of regular residences of ultra - high - net - worth families with assets of over 100 million yuan is 350 square meters, which has shrunk compared with a few years ago," the report said. "On the one hand, the housing concept of modern ultra - high - net - worth families has changed, and they no longer simply pursue large - area residences. On the other hand, in recent years, inflation has affected the value of assets, making the real value of 100 - million - yuan assets not as high as before."