Singapore's young super-rich snap up the priciest homes. What will you buy if you have that amount of money?
Good class bungalows, which are ornate mansions or villas that can date back to colonial times, have plot sizes of at least 15,000 square feet, and sit on leafy grounds in the primest districts.![]()
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Before, the buyers were often business people from traditional industries, traders, top lawyers and doctors. But in recent years, especially during the pandemic, startup founders, e-commerce executives and crypto investors have emerged as investors. And the new rich are driving prices higher.
The number of such houses sold last year tripled to 60 from 2019, with the average price per square foot rising to a record, according to data from property research firm Knight Frank.
Old and new wealthy people can have very different preferences. Older wealthy people "are unlikely to accept the current prices," said Henry Lim, head of good class bungalows and prestige landed at Singapore-based real estate company PropNex Realty. But the new rich want people to know they made the money and they don't try to make every cent they spend count.
How about you? If you have that amount of money, will you buy a luxury house? If not, what would you invest in?![]()
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Comment below to discuss with other mooers!![]()
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Ali mama : Crypto
江南公子 : Buy two commerical units to rent out, invest in some stocks, and keep rest in bank for emergency.
Mimako : buy house
Jamesim : Yes. How i wish i can.
BCTL : What is safer from buying properties in SG?
股质增升 : I will invest in gold.
MonkeyGee : That's a real investment. In USA we have to pay 3% on the value to live in our own property. lack of a better word in USA there is no true ownership. we all rent from the government
Lion cityerOP MonkeyGee: How much is it to rent from the US government?
Lion cityerOP 股质增升: Then I'll add some more diamonds. Haha.
Lion cityerOP BCTL: gold?
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