Singapore Surpassed Hong Kong as New Haven For Ultra High Networth

Singapore-Not-Hong-Kong-is-New-destination-for-Ultra-Wealthy

High Net Worth Individual (HNWI) in China has set their sight on Singapore from Hong Kong with latest Extradition Bill and tax transparency agreements stimulate the shift in focus as fear heightened in shaking the stability of the financial systems.

The ultra wealthy see Hong Kong as threat after the government has signed the tax transparency agreement and include China as one of the jurisdiction; in contrast Singapore does not include the capital of China as well as Hong Kong is an attractive factor for a capital flight.

Singapore and Hong Kong has been competing with each other to become the preferred choice of Asian Financial Centre. This has also  made Singapore the natural destination by investor to shift their fund to.

Analyst noted that Singapore real estate is generally more affordable than its competitive peer, and has attracted ultra rich to invest their capital expecting a healthy appreciation in long term. Some of them have also committed to some units at The Garden Residences at Serangoon due to its superior location situated in the popular landed estate with extensive amenities already established to serve the residents in the area.

Reasonable pricing set out at this garden theme condo has promised a healthy sales activity at the showflat, and the consortium led by Hong Kong based developer, Wing Tai Asia is also a encouraging element through their track record of commitment to quality and workmanship.

 

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