Even with the global pandemic turning the world upside down, Singapore has become a haven for some of the richest people in Southeast Asia and the world.
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Image Credit: Courtesy of Larry Teo on Unsplash

While the wealthy tycoons in the Kevin Kwan novel, and movie, Crazy Rich Asians might just be fictional characters, there is some truth in that story. In recent years, some of the wealthiest families in the region have been flocking to Singapore?s sunny shores and made the city their home. As a result of the influx of wealth, there has been an increase in demand for high-end goods and services within the city-state, reshaping the local economy.
Singapore has always been a prime destination for wealthy families in the region looking for a short vacation. With the opening of the luxury integrated resort, Marina Bay Sands, in 2010, the many designer boutiques along Orchard Road, and range of world-class private clinics and hospitals, it isn?t hard to see the appeal. However, with the recent pandemic sweeping across the globe, Singapore has started to see an increase in the number of wealthy families migrating into the country and buying up real estate to weather the storm.

The country?s current status as a safe haven for super rich is due to Singapore?s strong reputation of stability and security, which are particularly salient issues given the current climate. According to data fr...