USD Millionaires - about 250,000 are in Singapore

[Chase]

 

[Chase]

Twice as many as Hong Kong

 

[Sialoquent]

no wonder coe so high because of so many of them here invited by pap traitor to cause higher cost of living
now I got another reason not to vote for pap evil people

 

[winners]

Now you know why the 61% exists. Quite a lot of Sinkies are also very well off.

 

[borom]

How many of these sinkies are local born and served NS?

 

[blackmondy]

Paper millionaire or have one million dollar in savings account?

 

[Chase]

Paper millionaire or have one million dollar in savings account?

US$1 million in financial assets, eg savings, bonds, shares, hahaha and CPF

 

[Chase]

Now you know why the 61% exists. Quite a lot of Sinkies are also very well off.

Common Reporting Standards ignore property ownership/values. Therefore rich people can buy singapore properties to park their wealth.

We have about 350,000 private properties.
We have about 1,100,000 HDBs.

I can safely add another 250,000 to the list if we include fixed assets. Likely we have over 500,000 people with US$1million worth of property + financial assets + CPF.

hahaha

 

[Chase]

How many of these sinkies are local born and served NS?

Honorable Towkay @JohnTan was in the list a year ago.

However, he bought 2 beautiful new condos for his children's Trust account in full cash lately, to avoid ABSD. Therefore, his financial assets fell slightly below US$1 million this year. Like a PAP poster boy who lived the dreams, he believes that local properties are a great way to grow his wealth.

 

[blackmondy]

So if limpeh "buy" a car that is worth $300,000 and a HDB flat that is worth $700,000, then I automatically become a millionaire lor? Can liddat say?

 

[Chase]

no wonder coe so high because of so many of them here invited by pap traitor to cause higher cost of living
now I got another reason not to vote for pap evil people

This year got election, maybe COE will not hit $200,000.

 

[blackmondy]

Common Reporting Standards ignore property ownership/values. Therefore rich people can buy singapore properties to park their wealth.

We have about 350,000 private properties.
We have about 1,100,000 HDBs.

I can safely add another 250,000 to the list if we include fixed assets. Likely we have over 500,000 people with US$1million worth of property + financial assets + CPF.

hahaha

But but our gahmen say our flat is an asset mah, so why exclude as personal wealth? Buay ngam leh....

 

[Chase]

So if limpeh "buy" a car that is worth $300,000 and a HDB flat that is worth $700,000, then I automatically become a millionaire lor? Can liddat say?

The moment you drive off the car from showroom, the scrap value is only a fraction of the car price.

However, it is indeed true that many older HDBs are worth $700-800K now. Many young people suddenly very filial to their seniors.

 

[Chase]

But but our gahmen say our flat is an asset mah, so why exclude as personal wealth? Buay ngam leh....

The survey excluded fixed assets.
https://www.bloomberg.com/news/arti...llionaires-count-expected-to-surge-62-by-2025

Anyway our government also said our HDB is worth zero in year 0 of the lease.

 

[50000]

wahhh, so if measure by per sq ft, SG should be No 1.

 

[JohnTan]

Honorable Towkay @JohnTan was in the list a year ago.

However, he bought 2 beautiful new condos for his children's Trust account in full cash lately, to avoid ABSD. Therefore, his financial assets fell slightly below US$1 million this year. Like a PAP poster boy who lived the dreams, he believes that local properties are a great way to grow his wealth.

Oppies who put their money in the stock market or crypto got wiped out!

 

[syed putra]

Twice as many as Hong Kong

Sinkie numbers bloated due to hongkie refugees, plus indons who park money

 

[syed putra]

Makes me wonder how new york with its high taxes attract so much money.