Population: 3.9 million.
Singapore is a city with the world's highest concentration of millionaires. Property prices have boomed since the economy rebounded in 2009. The city state's open door policy towards top end foreign economic contributors, who traditionally gravitate towards prime areas, forcing rental demand to be high. Investor demand is also strong because Singapore has the highest concentration of millionaire households in the world. 16% with over $1million, and their capacity to buy residential property is obviously high.
Foreigners without Permanent Residency status are generally only permitted to purchase private apartments and condominiums. New land for development is limited and price growth in the luxury homes market is likely to be sustained.
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