Singapore millionaires rise by almost 33%

[YellowFlash]

most likely he put enough downpayment to pass front DSR or ABL

 

Bought with Tenancy, if rental higher than installment, DSR not affected. Only thing is that you need to have loads of cash for downpayment especially with current MAS ruling (60%)

[Tigershark1976]

all of us know that Sigaporean is asset rich.... add up the HDB+CPF+car... there are mant millionaire around... but million dollar cash?? I doubt there are a lot...

[Chemmie78]

all of us know that Sigaporean is asset rich.... add up the HDB+CPF+car... there are mant millionaire around... but million dollar cash?? I doubt there are a lot...

Have la....I think at least 3 people in this forum have already...you add those in sammayboy even more...

[PaiKia-Lee]

Not surprising that Singapore has the most number of millionarie per household, much more than Hong Kong. You see the great numbers of ferraris, lambo, Bentley, mercs, BMW in our normal estates and u will believe that Singapore has many millionairies.

[Lucaswh]

It is this kind of report that make my self esteem drop to a new low. sobs.

[Thaiyotakamli]

all of us know that Sigaporean is asset rich.... add up the HDB+CPF+car... there are mant millionaire around... but million dollar cash?? I doubt there are a lot...

rich in asset, CPF, car but also rich in debt, depreciation and most of the cash stuck inside till u turn 60+

[Thaiyotakamli]

i am the 67% cat:)

[KARTer]

Ministers counted??

 

Congratulations Singapore!

 

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Jun 1, 2011

Singapore millionaires rise by almost 33%: Study

Around one per cent of households have 39 per cent of the globe's wealth according to a study published on Tuesday, with Singapore's millionaires rising by almost 33 per cent in 2010. --ST PHOTO: ABDUL AZIZ HUSSIN

 

WASHINGTON - AROUND one per cent of households have 39 per cent of the globe's wealth according to a study published on Tuesday, with Singapore's millionaires rising by almost 33 per cent in 2010.

 

Over 15 per cent of households in Singapore have over a million dollars in assets under management, well ahead of the Switzerland and the oil-rich Arabian Gulf states.

 

The number of millionaire households across the globe increased 12 per cent in 2010, according to The Boston Consulting Group report, increasing millionaires' share of wealth from 37 per cent in 2009, pointing to increased inequalities in the wake of the global downturn.

 

Despite being at the epicentre of the global financial meltdown, the United States had by far the most millionaires last year, with 5.2 million millionaire households, and increase of 1.3 per cent from the previous year.

 

Japan was second with 1.53 million and China third with 1.11 million.

 

But it is emerging markets in Asia that can expect to see the biggest growth, increasing their share of wealth by 2.9 percentage points in 2010. -- AFP

 

[Chemmie78]

i am the 67% cat:)

 

Pls la...you drive Merc E250...think you are borderline millionaire at least...hehe

[Greatbirdlegend]

Ministers counted??

 

Of course my friend.

But don't just think it's the ministers la.

You should know that we have a lot of superscale civil servants in this country.

We're no. 1 when it comes to this.

[Jpcc]

i thought 33% is year on year growth. I.e. compare May 2010 with May 2011, it has 33% more than last year.

Not 33% of the population.

 

Anyway, more statistics required on how many millionaires are locals and how many are PRs or foreigners. Many CBD dwellers should be millionaires.

[Thaiyotakamli]

Pls la...you drive Merc E250...think you are borderline millionaire at least...hehe

but i sold my E250 liao....

moreover i stay HDB one, how to get into a million unless got a condo

[Thaiyotakamli]

Of course my friend.

But don't just think it's the ministers la.

You should know that we have a lot of superscale civil servants in this country.

We're no. 1 when it comes to this.

I think if u count ppl who own more than 10m, all the minister will still be included

[Windwaver]

TOTO winners included?

[Chemmie78]

but i sold my E250 liao....

moreover i stay HDB one, how to get into a million unless got a condo

 

I remember reading about some hdbs sold at 1million...more than some of my condos...

 

Why you sell your E250? how much, why never sell to me at a discount?

[Chemmie78]

I think if u count ppl who own more than 10m, all the minister will still be included

of cos la...let's say on average each earns 1 million a year...a term of 5 years 5 million leow...minus tax and expenses chow chow also have 3 to 4 million....

[Thaiyotakamli]

I remember reading about some hdbs sold at 1million...more than some of my condos...

 

Why you sell your E250? how much, why never sell to me at a discount?

sell mine 190k, its one year old car, high mileage one le. sell E250 due to lack of space, so get something bigger

[Thaiyotakamli]

of cos la...let's say on average each earns 1 million a year...a term of 5 years 5 million leow...minus tax and expenses chow chow also have 3 to 4 million....

if the person bought a lambo for a million and ferrari for 900k, i think he left with less than a million due to dep, fuel, tax, maintenance, etc

wad am i talkin about?? lol