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

Zion Road Condo is also near to the Havelock MRT station, making it a great location with convenient access to the rest of the city. The development itself contains five luxurious units that offer outstanding views and are outfitted with premium fittings and fixtures. Residents can enjoy lavish facilities such as a 50-meter lap pool, Jacuzzi, BBQ zone, and even private dining and lounge areas. Zion Road Condo is an ideal residential choice for those who want a tasteful urban lifestyle.

Singapore continues to hold its ground as a leading wealth power in the Asia Pacific (APAC) region, according to the Knight Frank’s inaugural ‘Rise of the Super Wealth Hub’ report. The findings of the report, which were based on six indicators that measured live, work and play aspects of super wealth hubs in APAC, put Singapore as the top destination, with an average score of 0.79, beating out contenders such as Dubai, Hong Kong, Sydney and Shanghai.

The country scored highest for indicators under the work aspect, notably its robust legal framework (0.98) and high enterprise excellence (0.97). According to the report, Singapore has become a magnet for businesses, multinationals, international finance institutions, tech companies and all types of manufacturers, mainly due to its reputation for innovation, competiveness and ease of doing business.

When it comes to the play aspect, Singapore scored the highest with lifestyle indicator (0.91). This can be attributed to its significant number of luxury hotels, Michelin-star restaurants and shopping malls. However, it scored lower for the opulence indicator (0.47). This is mainly due to the country’s limited land size, which has barred the possible development of large recreational areas such as theme parks, sprawled national parks and golf courses. Luxury shops that could usually be found on high streets have been moved to shopping centres for optimal land use.

Furthermore, Singapore was awarded 0.75 for urban prosperity and 0.69 for governance and talent, according to the report, recognising its strong standards of living and safe living environment.

Christine Li, head of research at Knight Frank Asia-Pacific, touches upon the change in cities due to the pandemic, with successful cities being those with decisive leadership and rapid action. “In Asia, Singapore has claimed this crown,” she explains. According to Leonard Tay, head of research at Knight Frank Singapore, the country’s status as a safe haven has only been further strengthened. He adds that Singapore is “favoured by businesses and investors seeking to be part of the immense growth potential in Asia.”