The Rise Of $100 Million Net Worth Individuals: Why Singapore’s Luxury Property Market Still Has Room For Growth
By Stacked Homes  •  November 7, 2022
At this stage of cooling measures, there’s growing concern that even Singapore’s stable climate might put off foreign property investment. The Additional Buyers Stamp Duty (ABSD) rate for foreigners now stands at 30 per cent; this is against a backdrop of soaring interest rates, and restrictions against land ownership (e.g., foreigners can’t own freehold landed properties without special permission). A recent report on centi-millionaires by Henley & Partners, however, suggests even these may be irrelevant in deterring the super-rich from Singapore’s shores. One of the major reasons is due to the migration of the super-rich. Given about 40 per cent of the world’s centi-millionaires are based in the US, it’s reasonable to assume that much of their wealth will be tied to the US dollar. Along with that comes risks such as political issues and the US national debt that’s approaching USD 31 trillion. For those who feel that the USD could never collapse, a recent example of the British Pound...
Read the full article
By Stacked Homes
The Stacked Homes editorial began in February 2017 to provide the latest news and analysis on property in Singapore.

Your email address will not be published.


Your Email Address will not be published

Read More Articles
More from thefinance