31 Aug '11, 11am

Value of high net worth individuals in S'pore to hit $740.84b

Value of high net worth individuals in S'pore to hit $740.84b

Singapore, based on a basket on 20 luxury goods and services, including wine and business class flights, that represent the discretionary purchases of high net worth individuals - defined as those with investable assets of more than US$1 million, excluding their primary residence. -- ST PHOTO: ALPHONSUS CHERN By Magdalen Ng In Singapore, there will be 129,000 high net worth individuals whose wealth will amount to US$616 billion (S$740.84 billion) in 2015. This was revealed in the Julius Baer Lifestyle Index, which observed that the cost of living in luxury outpaces the conventional consumer price index. Launched by the Swiss private bank on Wednesday, the index is based on an aggregate of price changes sample from Shanghai, Mumbai, Singapore and Hong Kong and based on a basket on 20 luxury goods and services, including wine and business class flights, that represent the di...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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