World’s wealthiest find safe haven in Singapore real estate

Find out where the rich are buying secondary homes.

Ultra-high net worth individuals who choose to buy property outside their primary country of business are increasingly choosing to set up second homes in Singapore. Singapore clinched the seventh spot in a list of ten countries where ultra-high net worth individuals choose to buy their second homes.

According to Wealth-X and UBS, 3% of UNHWs have second homes in Singapore, at par with China and Hong Kong. Singapore and Hong Kong have an edge because of their proximity to Mainland China.

The top spot was clinched by the United States, which was selected by 24% of UNHWs. The United Kingdom, Switzerland, and France occupied the next three spots. The list’s rear was brought up by Monaco, Australia, and India.

“These countries are considered safe havens for the world’s wealthiest. Nonetheless, the importance of some of the world’s key markets outside of these regions – such as China, Hong Kong, Singapore and India – shows that the shift of wealth creation towards Asia is not only on its way, but is also attracting more foreigners, who hope to benefit from the strong growth potential the region continues to offer,” noted the report.