Primary factors when deciding whether to invest for the extremely wealthy come down to; quality of life, understanding, impact and fundamentally a strong-economic movement. Australia boasts a plentiful economy with the backing of mineral wealth, and foreign private investors are noticing.
The 2012 edition of The Wealth Report dictates the key factors in a global city are; business transparency, economic stability and education systems. The new wealthy appearing in rapidly growing economies are targeting Australia because of these elements. The Wealth Report predicts that Asia will contribute to half of the world’s GDB by 2050. Australia is becoming even more popular for investors than their own markets, due to its safety and ability for growth.
Whilst Sydney and Melbourne are highly popular investment areas, Queensland has an increased tenant demand and greater returns. Justin Bond, Knight Frank’s Director of Capital Transactions attests to the desire from offshore investors for stable, safe investments. “Overseas investors are deploying capital into strong Australian markets, for secure long term investments.” Said Bond.
A number of high profile investments have been noted in the last 12 months, one example being the sale of 144 Montague Road, South Brisbane for $88,050,000. Positive reactions from both Australia and foreign investors in Brisbane attest to the likelihood of continued growth in Queensland due to offshore developments.