Cash Rich Buyer

We see signs like this everywhere. You think people don't simply paste notes in neat and tidy Singapore, but the reality is that Singapore's like other countries.



It puzzles many locals how some people can be so rich and afford to pay so much cash for houses when the prices are now sky high!



Probably this piece of news published on WSJ explains.

http://blogs.wsj.com/scene/2011/06/02/singapore-the-place-to-meet-a-millionaire/

It says Singapore has the highest concentration of millionaires in the world. Higher than Switzerland it seems. Is the report accurate it says 16% of households have at least 1 million in assets. Well I am not one of them.

Well, we know for sure the Members of Parliament in Singapore get that much a month!