Ultra-rich Asians and Chinese citizens eye Singapore luxury homes amid coronavirus pandemic asiaone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asiaone.com Daily Mail and Mail on Sunday newspapers.
The average home price in Seoul, South Korea, rose by 22% year over year in 2020.
That s the biggest price increase of any major city in Asia, per a new report from Knight Frank.
Home prices in New Zealand, Turkey, and Russia also saw major increases.
Home prices in Seoul are taking off.
The South Korean city saw a 22% increase in home prices from Q4 2019 through Q4 2020, according to a new report from global wealth consultancy Knight Frank.
It s the biggest price increase among all major cities in Asia, and it far eclipses the next-highest price change amongst cities in the region. No other Asian city tracked a greater than 10% increase in the same time period.
According to Knight Frank’s Wealth Report, while private home prices in Singapore’s prime districts dipped 0.2% in 2020 as travel restrictions kept foreign buyers away, demand is expected to recover this year as such properties remain relatively affordable, and as the vaccine roll-out continues and borders reopen.(File pic: Singapore s iconic Merlion)
SINGAPORE: Singapore has become one of the world’s most sought-after locations for buying investment homes as its safe-haven reputation has been further strengthened by successfully managing the coronavirus pandemic and supporting businesses.
According to Knight Frank’s Wealth Report, while private home prices in Singapore’s prime districts dipped 0.2% in 2020 as travel restrictions kept foreign buyers away, demand is expected to recover this year as such properties remain relatively affordable, and as the vaccine roll-out continues and borders reopen.
Hereâs How Much Wealth You Need to Join the Richest 1% Globally
Feb 24 2021, 9:48 AM
February 24 2021, 9:48 AM
February 24 2021, 9:48 AM
(Bloomberg) Joining the ranks of the richest 1% is never easy, but itâs especially hard in Monaco.
(Bloomberg) Joining the ranks of the richest 1% is never easy, but itâs especially hard in Monaco.
You need to be worth almost $8 million to make the cut in the Mediterranean principality, where residents typically donât pay income taxes, according to research on more than two-dozen locations by Knight Frank.
Switzerland and the U.S. have the next highest entry points, requiring fortunes of $5.1 million and $4.4 million, respectively, according to the property brokerâs 2021 Wealth Report. In Singapore, $2.9 million will get you over the threshold.
Joining the ranks of the richest 1% is never easy, but it's especially hard in Monaco. You need to be worth almost $8 million to make the cut in the Mediterranean principality, where residents typically don't pay income taxes, according to research on more than two-dozen locations by Knight Frank.