Whilst Sydney is known as one of the most beautiful cities in the world with its deep natural harbour showcased by two of the world’s most iconic structures, the Harbour Bridge and Opera House; Sydney is increasingly becoming an important investment destination for the world’s wealthy investors.
According to Knight Frank’s Wealth Report 2018, Sydney welcomed 4,000 high-net-worth individuals (HNWIs), those with a net worth of over US$1m excluding their primary residence, into the city in 2016 – the highest net inflow of any global city. The latest edition of The Wealth Report 2018 notes that Australia’s ultra-wealthy population (US$50m+) increased by 9% in Australia in the last year and is expected to grow by 37% in next 5 years to 2022.
On the doorstep of the fastest-growing middle class in history, Australia offers tempting opportunities for those looking to invest in the most tangible asset of all – residential property. Sydney ranked 9th globally in the luxury residential market performance rankings with 10.7% annual growth (from 11th place year prior) according to Knight Frank’s latest Prime International Residential Index (generally defined as the top 5% of each market by value).
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