01 Apr '14, 5pm

Property still propels Singapore's rich lists, Singapore Property News, Singapore Property Guides & Articles

RICH lists might generate envy among many, but they do provide a useful snapshot of a country's economy. One look at Singapore's league table of the wealthy and it is clear that this is a nation where creativity and innovation take a back seat to bricks and mortar. You won't find any JK Rowling, the creator of Harry Potter, on the Singapore segment of Forbes' Billionaires list released last month. There is no one akin to the founders of Amazon or Google either. Singapore's rich have taken a more traditional path to their billions by that most basic of economic activity - real estate. Half of Singapore's 16 billionaires on the Forbes list derive their wealth from property development and hotels. And on Singapore's Top 50 Rich List, released by Forbes last August, nearly half were property tycoons too. Forbes wealth editor Luisa Kroll notes that "markets like Singapore with ...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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