Savills Dynamic Wealth Indices reveal that Singapore is the top location for corporate relocations based on  corporate tax and business environments, volumes of foreign direct  investment, and economies and knowledge bases. Seoul, New York,  London and Abu Dhabi round up the remaining top five places. 

Personal tax incentives, existing high concentrations of HNWIs, and a good  quality of life put Dubai, Abu Dhabi, Singapore, Zurich and Auckland  respectively in the top five positions for individuals looking to relocate. 

Flows of global wealth are increasingly influencing where high net worth  individuals (HNWIs) and footloose companies choose to locate. The locations are impacted by a fluid geopolitical and economic environment,  and changing government policies, taxes and incentives, alongside quality  of life factors.

The Savills Dynamic Wealth Indices identify the cities that are performing  well at attracting and developing wealth and investment from individuals and  businesses – and highlights some key factors shaping their location  decisions.  

“Against an increasingly changeable geopolitical and economic backdrop,  global wealth flows are evolving, as HNWIs and businesses adapt their  decisions on where to locate,” explains Paul Tostevin, Director, Savills  World Research.  

“Traditional predictors of global wealth flows, such as government policies,  taxes and incentives, and the presence of either innovative talent pools or  existing communities of similar individuals, have always been key drivers of  dynamic footloose companies and individuals, and will continue to play a  major role, but a sense of place, and a high quality of living, are  progressively the deciding factor when making location decisions.” 

Ashley Swan, Executive Director, Commercial & Industrial, Savills  Singapore says, “The results of the indices endorse Singapore’s standing  among corporates and illustrate the overall business friendly environment,  strong government policies and tax incentives that MNCs can gain access  to once they establish a presence here. In addition, investment in  infrastructure along with a relatively large pool of talent further enhances Singapore’s standing on the international stage.” 

George Tan, Managing Director, Livethere Residential, Savills  Singapore adds, “Singapore offers high net worth individuals and families  an ideal blend of political stability, tax efficiency, a strong legal framework,  world-class education and healthcare. With luxury residential options and a  thriving business ecosystem, it has become a top global destination for  those seeking wealth preservation, global connectivity and a premium  lifestyle.”

Savills notes that six of the top 12 locations feature in both the corporate  and individual Dynamic Wealth Indices – highlighting how business and  personal priorities can often overlap as businesses want to locate in  destinations that can provide the necessary talent to sustain them, following  skilled workers who tend to prioritise a better quality of life. While lifestyle  factors appeal chiefly to the individual, the knock-on effects of creating talent  clusters – or HNWIs bringing their businesses with them when they relocate  - make them a magnet for corporate wealth, too. 

Alan Cheong, Executive Director, Research & Consultancy, Savills  Singapore comments, “With increasing economic and political ruffle  featherings, finding a stable environment for residency and investment  becomes more challenging for the ultra-high net worth individuals and their  families. While the competition has upped the ante to attract them,  Singapore remains a serious contender. For those with permanent  residency status, its real estate still offers good value for money.” 

Ruben Koh, Senior Director, Head, International Residential Sales,  Savills Singapore says, “Cities with a favourable tax regime, strong  knowledge and tech base, and stable economic fundamentals attract the  best businesses. This, in turn, draws talent and high net worth individuals  who seek to capitalise on these incentives and innovations.”  

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