Australia is fast becoming the world’s leading destination for millionaire migration with many well-heeled internationals headed for the sunny Gold Coast.

According to the latest K Insights report, Australia ranks second only to the United Arab Emirates as the preferred place to reside for high-net-worth individuals – ahead of Singapore, the US and Canada.

The top countries of origin for emigrants are China, Russia, India, the UK and Brazil. 

Once in Australia, many of these well-heeled immigrants choose to settle in major cities such as Sydney or Melbourne, but the Gold Coast’s laidback lifestyle and favourable weather mean it also attracts a large contingent. 

As many as 15 per cent of all millionaire migrants choose to settle on the Gold Coast, according to the report. Considering only 3 per cent of Australia’s overall population resides in the region, this is a significant sum.  

Many wealthy migrants who move to Australia come seeking an upgrade in their quality of life, with security and value for money also among their top priorities.

With this influx of wealth comes increased demand for luxury properties which in turn contributes to rising house prices.

Data shows that house prices have grown exponentially across the Gold Coast since 2020, with the median currently sitting at $1,200,000. 

While this makes it the second most expensive market in the country, the region’s larger land sizes and extended floor spaces mean, comparatively, it still represents better value for money than major national and, particularly, international cities. 

Over the past decade, 10 per cent of new properties and 5 per cent of existing properties have, on average, been sold to international buyers. 

Meeting the increased demand are a host of high-calibre properties, new and existing, with international appeal. 

Among them is the world-class, contemporary riverfront home at 87-89 Monaco Street in Broadbeach Waters. Conceived by renowned designer Jared Poole, the property gained global recognition for hosting reality TV series The Bachelor. 

Suited to a modern family, the quality home offers a premier lifestyle in the heart of the Gold Coast. It will be auctioned by sales agents Michael Kollosche and Paul Harrison on 25 October. 

At the other end of the spectrum is the Mediterranean mansion ‘Bartinon’, known internationally for its glamorous past. Spanning more than 3,600m2 of a prime riverfront parcel, the property will go under the hammer through sales agents Sam Guo and Julia Kuo on 18 October in what is building to be a much-anticipated auction event. 

Homes in the northern suburb of Hope Island are also popular with migrating millionaires for their advantageous Foreign Investment Review Board approval. A current example is 2633 Virginia Avenue, in the popular ‘Gracemere Estate’ of Hope Island, which is home to a stunning Hamptons-style home designed by award-winning architect Stuart Osman. It is for sale through William Sarti with expressions of interest closing on 18 October.