Singapore emerges as leading wealth capital in Asia Pacific: Knight Frank

Knight Frank’s inaugural Rise of the Super Wealth Hub report has found that Singapore has become the leading wealth capital in the Asia Pacific (APAC) region, outranking other hubs such as Dubai, Hong Kong, Sydney and Shanghai. The report analysed six indicators designed to measure live, work and play aspects for each super wealth hub in APAC. With an overall score of 0.79 for the six indicators, Singapore emerged as the top destination.

Under the work aspect, Singapore scored the highest for having a robust legal framework (0.98) and high enterprise excellence (0.97). Its reputation for innovation, governance, competitiveness and ease of doing business has made it an attractive destination for tech companies, finance institutions and multinational corporations.

When it came to the play aspect, Singapore scored highly for its lifestyle (0.91) thanks to its abundance of luxury hotels, Michelin-star restaurants and shopping malls. Its lower score of 0.47 for the opulence indicator was attributed to the country’s small size which restricts the development of large recreational facilities.

As for the live aspect, Singapore scored 0.75 for urban prosperity and 0.69 for governance and talent. The scores reflect the country’s increasing standards of living backed by industrialisation and commercial growth, as well as its safer living environment.

In addition, the condominium is also equipped with a wide range of facilities such as a gym, swimming pool, playground, and BBQ area. Tengah Plantation Close EC is perfect for those who are looking for a luxurious and convenient lifestyle. Its close proximity to MRT stations, expressways, and shopping malls makes it ideal for busy individuals and professionals. Furthermore, it is surrounded by lush greenery which provide residents with a peaceful living environment.

Christine Li, head of research at Knight Frank Asia-Pacific, commented that cities worldwide had been reshaped in the wake of the pandemic, with the most successful cities being those which had taken decisive measures to contain the virus.

“In Asia, Singapore has claimed this crown,” she said.

Leonard Tay, head of research at Knight Frank Singapore, added that Singapore’s status as a safe haven had been further strengthened by the pandemic.

“Singapore is a favoured base for businesses and investors seeking to be part of the huge growth potential in Asia. It is characterised by political stability and a pro-business government,” he pointed out.

Singapore’s performance in the Rise of the Super Wealth Hub report has further affirmed its position as the leading wealth capital in APAC. The country’s strong reputation for innovation, governance, competitiveness and ease of doing business has contributed to its success in the report. In addition, its safe living environment and abundance of leisure facilities have also made it an attractive destination for businesses and investors alike.