S’pore’s ultra wealthy population has grown yet again.
According to the Knight Frank 2018 Wealth Report, the number of Singaporeans with a net worth above US$50 million (S$65 million) surged to 1,400 in 2017.
This figure is up 18% from the 1,190 people the previous year.
Additionally, Singapore was also ranked the fifth wealthiest city in the world, and the wealthiest city in Asia.
The rankings were based on parameters such as wealth population and its rate of growth, property investments worth at least US$10 million, lifestyle, and future economic performance.
Singapore scored particularly well on the lifestyle element, which included components such as the number of luxury hotels, number and quality of top restaurants, and other atas indicators.
Which might be the reason why most of us ordinary Singaporeans don’t feel that wealthy.
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