According to the Asia – Pacific Wealth Report, Australia and the Asia – Pacific region will have the most number of millionaires in the world by 2014. For Australia, the reason behind this is no surprise as investors experience a rapid growth in the most popular sector – real estate.
Real estate has been the choice of investment for Australians. 40.6% of investors invest in the real estate sector, ahead of India, which was at a distant second at 26.5%.
It is interesting to note that Australia had a market high 3.6% GDP growth in 2012, ahead of the global growth rate of 2.2%. Because of these figures, Australian confidence in wealth management strategies was higher than the worldwide benchmark according to the report, with Australia at 45%.
You can read more about this on the Property Observer website.
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