Singapore Ranks 6Th Globally in Savills Next-Gen Wealth Index
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Singapore took sixth place globally and first across Asia-Pacific on Savills’ Next Generation Wealth Hubs Index released last Thursday, beating seventh-placed Hong Kong for young high-net-worth individuals.
The benchmark tracks capital destinations for individuals under 40 with a net worth of at least US$5 million as an estimated US$84 trillion transfers between generations over the next 20 years.
Savills evaluated more than 100 destinations across four core pillars: business, governance and connectivity; wealth clusters and local environment; wealth management and taxation; and lifestyle. Singapore gained ground through its concentration of private capital, tech networks and family office structures.
“Singapore’s combination of regional connectivity, established financial infrastructure and access to opportunities across Asia gives it an important role in these capital flows,” says Rayson Yeong, Savills Singapore’s head of private wealth, investment sales and capital markets.
The Global Benchmark and Asian Standings
United States cities dominated the upper tiers of the global ranking. New York took the top spot, followed by Miami, London, San Francisco and Los Angeles before Singapore broke into the sixth position.
Hong Kong placed immediately behind Singapore at seventh. The city continues to attract mainland Chinese capital through its low-tax environment, family office ecosystem and direct access to cross-border financial channels.
Other Asian commercial centers secured positions in the global top 30. Tokyo ranked 12th, Shanghai took 18th, Bangkok placed 25th, and Kuala Lumpur claimed 29th position.
Shifting Priorities Among Under-40 Millionaires
Younger wealth holders are reallocating capital based on different criteria than previous generations. Inheritors and tech founders below 40 prioritize education, wellness, lifestyle amenities and personal values alongside pure capital preservation.
“Tokyo ranked 12th, Shanghai took 18th, Bangkok placed 25th, and Kuala Lumpur claimed 29th position.”
This shift alters demand for luxury real estate and commercial investments. Established wealth management hubs must now offer cultural infrastructure and urban livability to retain international capital.
Singapore and Hong Kong serve primarily as structuring centers. Both territories handle private banking, cross-border investment platforms and corporate holding entities for assets distributed across Southeast Asia and mainland China.
Emerging Hubs and Manufacturing Wealth Creation
Wealth creation across the wider region is moving outward from traditional financial centers. Industrial growth in Vietnam and India is producing a new pool of entrepreneurs across technology, manufacturing, financial services and real estate development.
Secondary destinations across Southeast Asia are capturing lifestyle and residential demand. Phuket, Bali, Hoi An and Ho Chi Minh City recorded growing interest from mobile high-net-worth residents.
Rising consumer spending in urban centers like Bangkok and Ho Chi Minh City is pulling luxury retail operators and commercial landlords into faster expansion plans. Upgraded transport links and modern residential developments continue to back that inflow.
Capital Structuring Against Global Competition
Competition between Singapore and Hong Kong centers on family office registrations and fund management incentives. Both jurisdictions offer tax exemptions and residency pathways tailored to high-net-worth families.
Western hubs like Miami and London maintain strong pull through deep capital markets and established lifestyle assets. Asian hubs rely instead on proximity to fast-growing regional supply chains and regional wealth creation.
Private banks and property developers are tracking how the US$84 trillion intergenerational wealth transfer spreads across Asia over the coming decade.
Questions & Answers
Q.What criteria did Savills use to assess the destinations for its Next Generation Wealth Hubs Index?
What criteria did Savills use to assess the destinations for its Next Generation Wealth Hubs Index?
Savills evaluated over 100 destinations using four main pillars. These included business, governance and connectivity; wealth clusters and local environment; wealth management and taxation; and lifestyle factors.
Q.What factors contribute to Singapore's strong performance in attracting young high-net-worth individuals?
What factors contribute to Singapore's strong performance in attracting young high-net-worth individuals?
Singapore gained ground due to its concentration of private capital, strong tech networks, and family office structures. Its regional connectivity and established financial infrastructure also play a crucial role.
Q.How do younger wealth holders' priorities differ from previous generations?
How do younger wealth holders' priorities differ from previous generations?
Younger wealth holders, such as inheritors and tech founders, prioritise education, wellness, lifestyle amenities, and personal values alongside pure capital preservation, unlike previous generations.
Q.What is the primary competition between Singapore and Hong Kong in attracting high-net-worth individuals?
What is the primary competition between Singapore and Hong Kong in attracting high-net-worth individuals?
The main competition between Singapore and Hong Kong revolves around family office registrations and incentives for fund management. Both offer tax exemptions and residency pathways tailored to wealthy families.