Singapore’s rich kids end up with penthouses

Some Asians are rich, some are very rich.  There are stories about Singaporean students living in fancy condos which were bought by their parents.  For example, recently there was a story of a 24-year-old university student living in a USD 875,000 penthouse in Singapore. The apartment was bought by his parents.  Singaporeans, as many other Asians, are looking to purchase real estate as a way to accumulate and store wealth.  Many of the Asian families are also looking at buying real estate overseas.  

Read the full details here on Bloomberg.