Singapore millionaires rise by almost 33%: Study
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Jun 1, 2011
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
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They have brand new Ministers, therefore millionaires increased.
One HDB already $0.5 million, even public housing residents are millionaires.
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hard to be a million hairs.
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no wonder housing prices so sky high
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HDB flats are 99 year lease.
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Nowadays HDB flats costs like condominium.
Got ppl pay 600 k to 700 k to buy five room flat.
Blame those PRs for speculating the prices up.
I got one five room flat or government executive condo already half of one million.
Dont forget bank account.
Just get some Expensive cars and maybe some stocks millionaire le.
Got some extra private condo surely can meet my target.
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Originally posted by charlize:
HDB flats are 99 year lease.
Yah and getting smaller but more expensive. -
Originally posted by Almond Cookies:
Nowadays HDB flats costs like condominium.
Got ppl pay 600 k to 700 k to buy five room flat.
Blame those PRs for speculating the prices up.
I got one five room flat or government executive condo already half of one million.
Just get some Expensive cars and maybe some stocks millionaire le.
Got some extra private condo surely can meet my target.
SG people invested so much in their housing....when the property bubble burst, will be chaos....
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Originally posted by Demon Bane:
SG people invested so much in their housing....when the property bubble burst, will be chaos....
Riots lor.Like hong kong the property become negative property.
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Originally posted by Almond Cookies:
Riots lor.Like hong kong the property become negative property.
Yeap, someday it'll happen ! But for now, prices of properties are still escalating !!! Many have become millionaires !
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Sad to say, not one of us at sgforums are one of those millionaires.
Haiz.
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15% in sg got million ar.. knn.. why i dun have...mi still far far far away from it leh....
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that only mean that the income gap has increased tremendously
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Millionaires rise by 33%
If only the happinness of the people increased by the same amount....
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That's why many people still buying houses even @ exorbitant prices !!!
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how many of them are new MPs and foreigners?
asset rich but not cash rich
i may own a $500,000 flat but struggling to pay off
pffft
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Originally posted by laurence82:
how many of them are new MPs and foreigners?
asset rich but not cash rich
i may own a $500,000 flat but struggling to pay off
pffft
Got cash? People still buy properties to rent out....so that's why many are asset rich....
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Originally posted by Fcukpap:
that only mean that the income gap has increased tremendously
Our GINI coefficient quite high.Our growing income gap also.
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later sg become like india.
the rich very rich
the poor very poor
the poor live in slums.
the rich live in the entire hdb building
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more millionaires only mean more poor people coz its takes a lot of poor people to make a person a millionaire.
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Originally posted by Jiani:
later sg become like india.
the rich very rich
the poor very poor
the poor live in slums.
the rich live in the entire hdb building
No only Opp parties SMC/GRC are slums according to SM Goh.Insome disparity becomes very serious,
My auntie salary stuck at 1 thousand plus for years bo increase while inflation increases.
The rich gets richer.
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Originally posted by dragg:
more millionaires only mean more poor people coz its takes a lot of poor people to make a person a millionaire.
Yah a lot of poor factory workers make money for their boss. -
yeah....the poor gets poorer....
thats why i aim for stardom
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Originally posted by Jiani:
yeah....the poor gets poorer....
thats why i aim for stardom
Jesus is more precious than Gold, eternal life. -
That explain how and why many people buy DBSS flats at exorbitant prices !