Since the BRW Rich List was started in 1984, there have been nine Australian property developers who have featured every time. And given that there are only 19 people overall to achieve that feat, it appears property can be a winning formula.
Frank Lowy leads the charge, listed currently as Australia’s second richest person with $6.87 billion to his name. The rest of the ‘big nine’, in descending order, are Harry Triguboff ($4.95 billion) and John Gandel ($3.7 billion), followed by Stan Perron, Maurice Alter, Alan Rydge, John Kahlbetzer, Bruno and Rino Grollo and John Longhurst.
Further evidence of the earning potential of the property market can be seen in this year’s list. Of 36 billionaires featured, 15 earned a significant amount of their wealth as a result of the local property boom.
Despite the continued presence of the nine seasoned property moguls hinting at the lucrative potential of the real estate market, there is a relative dearth of property investors in the Young Rich List compared to the full list. Eight out of 100 in the BRW Young List predominantly made their earnings in property as opposed to 55 of 200 in the full Rich List published last year. This indicates a disproportionately small amount (approximately 30 per cent) of property investors in the Young Rich List.
Property Investing in Perth
If you are keen to get into the property investment market but are unsure of where to start, getting the right property investment & development advice is essential. To find out more about property investing, speak to the experts at Rass Global Investments.