BCG:10.6% Singaporean Households are USD Millionaires (AUM)!

[Porfirio Rubirosa]

In BT 10/9, "Singapore wealth story continues" by Geneieve Cua, based on Boston Consulting Group's latest wealth report Singapore has emerged as the market with the greatest concentration of millionaire households - defined as those with AUM (assests under management) of at least USD1million. They account for an "astounding" 10.6% of all households here said BCG.

Now based on the findings of this BCG report, what may be of more interest to Singaporeans in general would be:

1. Of this 10.6% of millionaires, how many fall into the Singapore citizen category;

2. And what is the profile of the Singapore citizen category for eg. politicians; civil servants; GLC executives etc.

 

[shOUTloud]

actually with the cost of condos, why not?

 

[Randee_Candee]

actually with the cost of condos, why not?

Better not let the boys @ helm hear that
Later all HDB cost 1mil, then we would have more than 80% in tat bracket

 

[madmansg]

is that before or after the market meltdown ?

 

[Porfirio Rubirosa]

I don't think owner occupied property is the basis. The criteria is based on min USD1 million assets under management . This is what makes the 10.6% really "astounding".

actually with the cost of condos, why not?

 

[Zombie]

The report looks into Singapore Households, instead of Singaporean (ie citizen + pr) Households.

Their interest is to identify the locations of funds for opportunities. They would not be very keen to know whether it belongs to a true blue Singaporean or a Foreigner.

I suspect some (great?) portion can be attributed to Foreigners who brought monies into Singapore for investments and registered them with a local residential unit they invested in.

 

[jw5]

I don't think owner occupied property is the basis. The criteria is based on min USD1 million assets under management . This is what makes the 10.6% really "astounding".

I don't think that the 10.6% is astounding at all.
What is more astounding is that the other 89.4% probably have an average net worth of 4 figures or less.

 

[madmansg]

I find it even more astounding singaporeans still willing to serve NS for free. REALLY AMAZING!

 

[Randee_Candee]

I find it even more astounding singaporeans still willing to serve NS for free. REALLY AMAZING!

I dun thk there is 2 way abt NS liability.
Luv it, hate it, its part of life s Singaporean.

In fact, it does make a man out of a boy.

 

[DerekLeung]

is that before or after the market meltdown ?

Unstated figures before saying the numbers of Households !

Whether before selling or asset rich !

Unstated figures did not mention how many owned multiple properties !


If this 50% of the 10% of the general population decides to free money by selling !

Is there enough takers or Foreign Talents to take it's place !