Singapore’s MAS Chief Says Record Inflows Manageable
- North Asia’s wealthy contribute large portion of asset flows
- Island hub attracted $317 billion of new money last year
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Singapore can absorb record inflows of new money, the central bank chief said, allaying concerns of a real estate bubble even as rents and prices surge to unprecedented highs.
The Asian financial hub attracted S$448 billion ($317 billion) last year, 15.8% higher than the previous year, the latest data from the Monetary Authority of Singapore shows.