Singapore Market Buzz And Round Up
This post was written for www.hnworth.com, a site targeting high net worth individuals in Singapore.
Have fun reading !
The main buzz in Singapore would be the Sentosa Cove condos going at S$3 million dollar losses as reported in the Straits Times. This comes shortly after Finance Minister Tharman Shanmugaratnam opined in October that “prices were not at meaningful correction” yet.
So is it any wonder that Singaporeans added only 40 ultra high net worth individuals this year? A rate much slower than her peers in the region.
Given this diversion, no one is paying much attention to Singapore’s astounding GDP numbers that came out today led by the manufacturing sector. GDP grew by 3.1% for the 3rd quarter over previous one, much higher than the estimate of 1.2% that economists were predicting.