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Stability and Growth Good News for Indonesia’s Rich

From The Jakarta Globe
March 19, 2015

According to a report by the property consultancy Knight Frank, the number of Indonesian billionaires is projected to double over the next decade on the back of the country’s economic growth and political stability, fuelling a demand for property both in the country and abroad. Knight Frank’s “The Wealth Report,” showed there were 24 billionaires in Indonesia last year, followed by 192 centa-millionaires — those with a minimum net worth of $100 million, excluding their primary house.

Meanwhile, 650 individuals are regarded as having “ultra high” net worth, which the property consultancy defined as those with net assets exceeding $30 million.

According to the survey, 16 percent of Indonesia’s ultra high net worth individuals plan to buy another property in 2015. In total, they invested $153 billion in domestic and overseas properties last year, including office space, residential homes, warehouses, retail space and hotels.
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