PHOTO: Forbes Global Properties

The US-based global media giant Forbes entered Australia’s highly competitive prestige property market overnight with the launch of Forbes Global Properties, spearheaded locally by renowned trophy-home seller Ken Jacobs.

Far from the more traditional marketing platform that is central to most real estate brands, Forbes is expected to be a game-changer for the Australian market given it is based on an invitation-only consortium of leading real estate firms from around the world connecting high-net-worth buyers with the finest homes for sale.

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

Fairwater 560 New South Head Road POint Piper
The Fairwater estate in Point Piper was sold by Ken Jacobs for an Australian house price record of $100 million.

Forbes is best known for the business magazine and its lists and rankings of the richest people in the world, and the world’s top companies, most powerful people and the world’s billionaires.

“This is an evolution of the top end of Australia’s real estate market,” said Mr Jacobs, who was tapped to join the Forbes start-up as a partner.

“It signals the internationalisation 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.”