Singapore ranks first in Asia Pacific and sixth globally in Savills’ Next Generation Wealth Hubs Index, which identifies locations that attract and retain the next generation of investors under 40. The city-state’s position in the global setting for next-generation wealth is highlighted in the latest annual edition of Savills’ report ‘Spotlight on Wealth’.
The report highlights Singapore as a leading global and regional center for business and private wealth, drawing families with its stability, connectivity, and robust financial systems that support long-term wealth preservation. It ranks over 100 wealth hubs across four critical areas: business and governance, wealth management, local environment, and lifestyle.
Singapore’s Next Generation Wealth Challenge
Singapore’s wealth narrative is evolving to include not just wealth creation but also preservation, succession planning, and the goals of younger generations. Unlike their parents, some young high-net-worth individuals are diversifying beyond property, investing in real estate, private markets, venture capital, equities, and businesses.
Real estate remains central to the discussion, serving as a store of wealth, for succession planning, and capital preservation across generations. As different sources of wealth are generated, driven by the growth of technology and artificial intelligence companies, location decisions play an increasingly important role in wealth planning. Many affluent families are adopting multi-jurisdictional lifestyles, balancing residential, educational, and wealth interests across multiple markets.
The challenge for many buyers is not access to information, but interpreting that information in a way that makes sense for their finances, goals, and stage of life. As a result, some are working with agents who share a data-driven and advisory-led approach to help readers think through decisions more objectively.
The Great Wealth Transfer
The Great Wealth Transfer is potentially a great relocation story, with younger wealth holders being more globally connected than their parents. What will make them stay in one place is a common thread running through the report’s top locations, which is the combination of established infrastructure, stability, connectivity, and a compelling residential proposition. In the APAC region, the wealth environment is characterized by the interaction between new wealth creation and family-led capital planning.
Established hubs like Singapore and Hong Kong continue to lead in benchmarks of connectivity, business environments, and family office activity. 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 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.
Sulian Tan-Wijaya adds that for families with business and investment interests spanning multiple markets, connectivity can be especially valuable as wealth transitions from one generation to the next. Rayson Yeong, Executive Director at Savills Singapore, notes that Singapore’s position reflects its role as a key node for capital in Asia Pacific, providing 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. The shift in global wealth 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.
The next generation of investors is likely to prioritize turnkey and highly serviced assets in markets with legal stability, lifestyle quality, privacy, and long-term liquidity. As the wealth environment continues to evolve, Singapore’s position as a next-generation wealth hub will be shaped by its ability to attract and retain the next generation of investors. According to the report, Singapore’s tax-friendly policies and stable political scene make it an attractive location for wealthy families. The city-state’s highly developed financial infrastructure and access to high-quality education also support its role as a long-term base for wealthy families across Asia.
The report notes that rapidly developing economies like India and Vietnam generate most of their wealth through entrepreneurship, technology, manufacturing, financial services, and real estate development. In contrast, Singapore focuses on wealth structuring, private banking, family offices, and regional connectivity. With the strong Singapore dollar, investors are increasingly looking towards properties in Japan, including Hokkaido’s ski markets. As the next generation of wealth holders continues to shape the wealth environment, Singapore’s position as a key node for capital in Asia Pacific will be closely watched.
Location Decisions and Wealth Planning
A writer who shaved their head in 2023 to raise awareness for a cause may have different priorities than a haematologist who treats patients in the region.