A global wealth report by Credit Suisse has revealed that 185,000 New Zealanders – more than the population of Hamilton – can now claim to be millionaires in US dollar terms and most of them created that wealth through property investment.
The article which is written by RNZ News, goes on to say that “most of that wealth is locked up in property” implying that owning property is somehow a negative thing. I’m sure that those 185,000 millionaires who have seen excellent capital gain don’t see it that way. In fact, I’d wager that many, if not most of them, wished they had more of their wealth “locked up in property”.
I find it rather funny that people often quote property wealth as a negative. Just take a look at any Rich List and you’ll see where the super-wealthy either made their money, or choose to keep it. If you want to get ahead, to create some wealth and give yourself choices, then emulate the rich. They’ve shown you where they invest their wealth, why not do the same?
John Kenel
Assured Property
Click on the link below to read the full article on rnz.co.nz:
Rapid house price growth creates a lot more Kiwi millionaires
