Average wealth in Singapore up 6.8% to $351,998: Credit Suisse
After dipping in 2011, total wealth in Singapore rose 8.7 per cent over the past year to reach US$1.1 trillion (S$1.37 trillion) by mid-2013, private bank Credit Suisse has said in its latest Global Wealth Report.
Most of the rise was due to Singaporeans' high savings rate and asset price increases.
Average wealth per adult also increased, by 6.8 per cent over the past year to US$282,000 (S$351,998). This makes Singapore the second wealthiest nation in Asia Pacific in terms of average wealth per adult, after Australia.
The report defines wealth as the value of financial assets plus real assets - mainly real estate - minus household debt.