According to the Global Wealth Report 2022 conducted by Credit Suisse, an additional 390,000 Australians are now considered millionaires, following a surge in assets in 2021. The number of Australian millionaires now stands at nearly 2.2 million. Similarly, the richest 11% of Australians are said to hold 21.81% of the country's wealth in 2021, up from 19.61% in 2007.
Among them, there are certainly many thousands of Greeks, since the increase in the number of millionaires in Australia is due to the skyrocketing of real estate prices, and it is well known that many expatriates own multiple homes and other properties.
The report notes: «The strong rise in financial assets led to an increase in inequality in 2021. The increase in inequality is likely due to the increase in the value of financial assets during the Covid-19 pandemic.».
Similarly, Nannette Hechler-Fayd'herbe, head of investments for the EMEA region and global head of economics and research at Credit Suisse, added: «While some reversal of the exceptional wealth gains of 2021 is possible in 2022/2023 as many countries face slower growth or even recession, the five-year outlook suggests that wealth will continue to grow in Australia.».
As we wrote in «Neos Kosmos» recently, house prices in Melbourne, Sydney, and Hobart have nearly quintupled over the past 30 years, with many of our compatriots feeling vindicated in their choice to invest their life's work, prioritizing putting a roof over their heads.
