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Singapore’s young super-rich snap up island’s priciest homes
A younger generation of super-wealthy that made their money in not-so-traditional areas are increasingly buying up Good Class Bungalows. Their purchases are driving a surge in transactions and prices, even as cooling measures seek to tame the broader property market.
Older wealthy people “are unlikely to accept the current prices”, said Henry Lim, head of good class bungalows and prestige landed at Singapore-based real estate company PropNex Realty. But the new rich have more easily accessible funds, he said. “To them, it’s ‘If I can afford, I’ll buy.’”
