'Safe-haven' status draws the global rich to Australia

Australia's 'safe-haven' status is drawing rich investors to our shores, according to Lord Hay of Knight Frank.

Knight Frank's 2017 Wealth Report shows that Australia is growing in importance to the world's ultra-high-net-worth individuals.

Knight Frank’s Global Head of Residential Lord Andrew Hay, speaking in Australia this week, said the country's status as a 'safe-haven' means it is likely to continue to attract strong levels of investment in the near term, as the global economy grapples with heightened levels of uncertainty.

The number of ultra-high-net-worth individuals, defined as those with $30 million or more in net assets, increased by 6,340 in 2016, taking the total to 193,490, according to The 2017 Wealth Report. The increase offsets the 3 per cent decline seen in 2015.

According to Lord Hay, “Australia is a key focus internationally for the super-rich. Sydney and Melbourne have made it into the top 10 list of most important cities globally for the wealthiest to invest, according to the Knight Frank City Wealth Index. Sydney ranked 4th and Melbourne ranked 10th in the ‘investment’ category."

"Countries that offer a fiscal and political 'safe haven', as well as excellent quality of life, are expected to see strong growth over the next decade in UHNWI populations," said Lord Hay.

Australasia, Canada, Malta, the UAE, Qatar, Monaco and Israel are all considered to be 'safe haven' investment destinations.

Lord Hay said that since the global financial crisis in 2008, the world’s wealthiest people have shifted their focus from the size of returns to the safety of their capital.

Political uncertainty has been reignited in the last 12 months. "Nearly three-quarters of respondents to our Attitudes Survey highlighted political uncertainty as a significant threat to their clients’ availability to create and preserve wealth,” said Lord Hay.

According to Michelle Ciesielski, Knight Frank Australia’s Head of Residential Research, Sydney recorded the highest global inflow migration of high-net-worth-individuals at 4,000 in 2015, followed by Melbourne at 3,000.

“Ongoing migration to Australia is the attractive lifestyle and relatively healthy economy. Australia is projected to see a 70% growth in the UHNWI population between 2016 and 2026," said Ciesielski.

Source Credit: The Realestate Conversation, Knight Frank's 2017 Wealth Report

Recent Posts
Featured Posts
Top Searched Suburb
WooBuyers | Connecting Chinese Real Estate and Chinese Property Buyers

Copyright © 2017 by WooBuyers.

All rights reserved

Contact Us

China / HongKong:  








  • Facebook Black Square