Australia’s super-rich population to grow by 20%


The number of ultra-wealthy Australians are forecast to swell by 20 per cent over the next five years, fuelling demand for prime real estate, a Knight Frank report showed.

Despite the slowing economy, very rich individuals are piling on their fortunes at such a rate that 613 will join the ranks of Australians with a net worth of over US$30 million ($44.73 million) by 2023.

This will take the total to 3675 ultra high net worth individuals (UHNWI) to 3675. Sydney will retain its position as the most desirable city for the ultra-rich…….

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