Overview
The future of Singapore’s wealth story is expanding beyond wealth creation, and now includes wealth preservation, succession planning, and the aspirations of the next generation.
As a regional and international hotspot for business and private capital, Singapore has long attracted families seeking stability, connectivity, and the financial infrastructure to sustain wealth across generations.
These dynamics continue to see the city-state stand out in the latest annual edition of Savills’ report ‘Spotlight on Wealth’, published last week. Compiled across multiple gateway cities, the report also takes a closer look at Singapore’s position in the global landscape for next-generation wealth.
According to the Next Generation Wealth Hubs Index in the report, Singapore is ranked sixth globally and first in the Asia Pacific (APAC) region. The region comprises six cities in the top 30 index.
The Index identifies the locations best placed to attract and retain this generation of well-heeled investors. Savills defines ‘next generation wealth’ as individuals under 40 who have inherited significant wealth, are poised to benefit from the Great Wealth Transfer, or have built wealth through entrepreneurial success.
In compiling the index, over 100 wealth hubs - categorised under four key pillars - were analysed: business, governance and connectivity; wealth management and taxation; wealth clusters and local environment; and lifestyle.
The results comprise global powerhouses and emerging lifestyle destinations, as well as reveal locations where wealth is being created, managed, and settled. For property markets, the key considerations are both the scale of wealth transfer and where that capital settles.
For Singapore’s next generation of high-net-worth individuals (HNWI), some are not investing in property the way their parents did. But their investment portfolios are likely to be underscored by diversification featuring prime real estate, private markets, venture capital, equities and operating businesses.
That being said, real estate remains central to this discussion, serving as a store of wealth, for succession planning and capital preservation across generations.
As different sources of wealth get generated - now driven by the accelerated growth of technology and artificial intelligence companies - location decisions play an increasingly important role in wealth planning.
As a result, many affluent families are increasingly adopting multi-jurisdictional lifestyles, balancing residential, educational, and wealth interests across multiple markets. Shifts in the direction of global wealth reshape residential demand and create opportunities for locations that align with the priorities of internationally mobile wealth.
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Singapore’s next wealth challenge: retaining the next generation, not just attracting capital
As a regional wealth hub in APAC, Singapore benefits from highly favourable financial and economic conditions, as well as a stable political landscape.
Located at one of the busiest global crossroads, we are a key regional commercial centre that has among the lowest perceived public sector corruption in the world. With our tax-friendly policies, Singapore is also one of the most efficient places to do business.
Adding to our appeal is a combination of factors, including access to high-quality education, clear succession planning structures to sophisticated financial services. The bedrock of security, privacy and efficient infrastructure also supports its role as a long-term base for wealthy families across Asia.
According to Savills, rapidly developing economies like India and Vietnam generate most of their wealth through entrepreneurship, technology, manufacturing, financial services and real estate development.
On the other hand, Singapore focuses on wealth structuring, private banking, family offices and regional connectivity. Riding on the strong Singapore dollar, investors are also increasingly looking towards properties in Japan, including Hokkaido’s ski markets.
The Great Wealth Transfer: potentially a great relocation story
If younger wealth holders are even more globally connected than their parents were, what will make them stay in one place? A common thread running through the report’s top locations is the combination of established infrastructure, stability, connectivity and a compelling residential proposition.
In the APAC region, the wealth environment is typically characterised by the interaction between new wealth creation and family-led capital planning.
Unsurprisingly, established hubs such as Singapore and Hong Kong continue to lead in benchmarks of connectivity, business environments and family office activity. Meanwhile, emerging destinations like Bangkok, Kuala Lumpur and Ho Chi Minh City are catching up as wealth, talent and investment flows diversify across the region.
Sulian Tan-Wijaya, Executive Director, Deputy Head of Private Wealth / Head of Retail at Savills Singapore, says real estate remains an important part of wealth planning, but decisions are increasingly considered alongside family needs, business interests, succession planning and how different assets fit within a broader portfolio.
“Singapore is particularly well positioned in this respect because it connects wealth holders to opportunities across Asia while providing the ecosystem to support longer-term capital planning,” she says.
She adds that for families with business and investment interests spanning multiple markets, that connectivity can be especially valuable as wealth transitions from one generation to the next.
Buying ecosystems, not just homes
As wealth transcends borders and generations, capital deployment becomes more selective. For residential markets, the change in wealth dynamics also comes with changing preferences. The key drivers of residential demand and location decisions include lifestyle, wellness, flexibility, privacy, education, and global connectivity.
Rayson Yeong, Executive Director, Head of Private Wealth, Investment Sales & Capital Markets at Savills Singapore says: “Singapore’s position reflects its role as a key node for capital in Asia Pacific. For private wealth, connectivity is not simply about ease of travel; it is also about access to markets, investment opportunities and professional expertise across the region”.
Prime real estate remains popular as it provides flexibility, supports succession planning and creates access to global networks, education systems and business ecosystems.
Globally, Singapore ranks 10 out of 30 cities, coming in just under $2,000 average psf for prime real estate.
Across the world, the shift in global wealth - either across generations, or towards a new class of ultra-wealthy individuals and families - has spurred growing demand for branded residences, wellness-led developments, and turnkey properties that allow globally mobile buyers to transition easily between homes and jurisdictions.
For the next generation of investors, the most resilient winners are likely to be turnkey and highly serviced assets in markets with legal stability, lifestyle quality, privacy and long-term liquidity.
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