Property
Guru – 8 hours
ago
By Romesh Navaratnarajah: 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).
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this
story.
