View of Marina Bay Sands Resort in Singapore.
Singapore’s ultra-wealthy population surged to 1,400 individuals in 2017, up 18 percent from 1,190 the year before, according to Knight Frank’s 2018 Wealth Report unveiled today.
The report defines ultra-wealthy individuals as those with US$50 million (S$65.8 million) or more in
net assets.
Over the next five years, Singapore’s super-rich population is expected to grow by 11 percent to 1,550 in 2022.
Globally, the number of ultra-wealthy individuals rose by 10 percent year-on-year to 11,630, taking the overall population to 129,730.
Knight Frank attributed the rise in affluence to the booming global economy, which is lifting GDP as well as stock and property markets.
Check out luxury properties for sale in Singapore.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
