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Sydney is Australia’s multi-millionaire capital

In a city in which $30 million house sales are becoming a regular occurrence it is little wonder so many Sydneysiders suspect there’s a lot of very rich people living here. More luxury super yachts and a rise in demand for private jet use by Execujet are one indicator that some among us are pulling a decent wage.Research by Knight Frank is more specific. There are 1734 people classified as ultra high net worth individuals currently living in Australia, almost half of whom live in Sydney (765 to be exact), according to this year’s Wealth Report by Knight Frank. UHNWIs have a net worth of more than US$30 million ($38.4 million), and these figures include the resident billionaires and centa-millionaires (a net worth of $US100 million). Read more: http://news.domain.com.au/domain/real-estate-news/knight-frank-sydney-is-australias-multimillionaire-capital-20150325-1m6t0d.html

 

DISCLAIMER: This disclaimer is a requirement of the Securities Industry Legislation Act. The writer of this article is not a practicing lawyer or financier. The information, statements and opinions expressed are intended only as a guide as to some of the important considerations to be taken into account relating to property investment. I strongly suggest that you consult with licensed professionals such as accountants, Lawyers, Valuers, Development Consultants, Quantity Surveyors and others, BEFORE signing any contracts or other binding documents.