Sunday, March 10, 2013

S'pore will be 2nd most important city to the world's wealthy: report

Mar 7, 2013 -

Singapore is expected to become the second most important global city behind London for high-net-worth individuals (HNWIs) in 2023, according to The Wealth Report Attitudes Survey 2012 by Knight Frank.

The survey polled 400 private bankers and wealth advisors to provide insights into their clients’ attitudes on a broad range of topics including their homes, investments and ability to generate more wealth.

The city-state is currently the third most important location for HNWIs around the world and top in Asia. It is also the third most vital city for Europe and North America’s super rich.

“Singapore, Hong Kong and Shanghai are growing economies that offer a wide range of opportunities for wealthy investors. They will be instrumental as HNWIs seek new bases across key markets,” said Reignwood Group’s Chairman, Chanchai Ruayrungruang, who was interviewed for the report.

Meanwhile, online searches for luxury properties in Singapore last year saw the highest increase globally at 76 percent from 2011, followed by Bermuda (71 percent), Barbados (67 percent) and the Cayman Islands (63 percent). 

The average price for Singapore properties searched for stood at US$2.7 million (S$3.36 million).

The survey represents the views of about 15,000 wealthy clients with an average net worth of US$65 million (S$80.92 million) and overall wealth of almost US$1 trillion (S$1.24 trillion).

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)

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