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Saturday, May 26, 2018

No wonder the ultra-wealthy are now flocking to Sydney, Real Estate - THE BUSINESS TIMES

No wonder the ultra-wealthy are now flocking to Sydney, Real Estate - THE BUSINESS TIMES: WITH its pristine beaches, glistening harbour and enviable climate, you'd be forgiven for thinking of Sydney as a holiday destination. But for an increasing number of the world's wealthy, their ticket to Sydney is one-way.

More high-net-worth-individuals (defined as US$1 million ) immigrated to Sydney than any other city in the world at last count; a trend which is expected to continue. As more of the world's wealthy head Down Under, the number of Sydney's high-net-worth-individuals is expected to increase 70 per cent by 2026; while its population of ultra-wealthy (defined as US$50 million ) is expected to increase by 37 per cent in the next five years.