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Number of millionaires in Singapore up 5 per cent to 105,100: Report

Published on Jun 19, 2014 3:05 PM
 
Singapore's Central Business District (CBD) with skyscrapers which house offices and banks. The ranks of the wealthy in Singapore swelled to a new high last year, fuelled primarily by strong economic growth amid flat or slightly softer local equity and real estate markets. -- ST PHOTO: LIM YAOHUI

SINGAPORE - The ranks of the wealthy in Singapore swelled to a new high last year, fuelled primarily by strong economic growth amid flat or slightly softer local equity and real estate markets.

The number of high net worth individuals, or people with investable assets of at least US$1 million excluding their homes, jumped nearly 5 per cent or 4,600 to 105,100, according to the latest World Wealth Report by consulting firm Capgemini and Royal Bank of Canada (RBC) released today.

The total amount of wealth held by Singaporeans jumped 7 per cent or US$33.5 billion to reach US$522.5 billion.

 
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