According to a new report by the Boston Consulting Group, BCG), Singapore has the highest percentage of millionaire households in the world.
15.5% of households in Singapore have more than US$1 million in investable assets.
Switzerland is a distant second at 9.9%, and Qatar in third place with 8.9%.
The 15.5% works out to be about 170,000 households, an almost 33% increase from the year before.
One reason for the increase would be due to the rapid increase in property prices in the past few years. Even though the report excludes residential property, people who dabble in additional properties would have seen a significant rise in their assets.
Another smaller factor could be Singapore’s Global Investor Programme, which grants permanent residency status to individuals who are able to invest S$2.5 million into businesses here.