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Forbes Global Properties to remodel Australia’s luxury property market

US media giant Forbes sets foot in Australia, led by locally acclaimed property agent Ken Jacobs

An aerial view of Paradise Waters, a luxury Gold Coast suburb in Queensland, Australia. DarrenTierney/Shutterstock

Forbes has joined the highly competitive Australia luxury property market with the launch of Forbes Global Properties. It is expected to be a game-changer with its invitation-only consortium of global top-tier real estate companies, bridging high-net-worth patrons with first-class homes, reported Domain.

Mike Federle, Forbes chief executive said, “every month we engage more than 140 million people deeply interested in luxury travel and real estate. Forbes Global Properties is a natural extension of our brand.”

Forbes is renowned for its business magazine, ranking and listing the world’s billionaires, the world’s top companies, and the most powerful people.

Ken Jacobs, locally renowned trophy-home seller, who asked to join the Forbes start-up as a partner mentioned, “this is an evolution of the top end of Australia’s real estate market.”

More: Australia’s growing popularity with Asian developers and investors obstructed by COVID-19

“It signals the internalisation of Australia’s trophy-home market, which started years ago but has accelerated this year. In the wake of the COVID-19 pandemic, the enquiry rate for expats and foreigners hoping to move here permanently has lifted dramatically so the timing is perfect for us in Australia,” he added.

Jacobs has settled many expensive estates in Sydney, including the Point Piper estate Fairwater valued at AUD100 million (USD75.6 million), the Elaine estate at AUD71 million, and the La Mer trophy home in Vaucluse at AUD70 million.

Jeff Hyland, co-founder of the US agency Hilton & Hyland and one of the leaders of the start-up, commented that Forbes Global Properties is far apart from other real estate groups as its not solely a listing tool for agents, but it provides significant access to prospective high-net-worth buyers.

Members of the network will be limited to the best 100 brokerage firms in the world, providing members exclusivity in their local property market.

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