It shows how older money is still interested in the trophy houses — there are only about 2,500 on the island — after younger buyers emerged in the technology and cryptocurrency boom.
As prices for some of Singapore’s most prestigious homes soar to records, the latest purchase by a China-born restaurant tycoon underscores just how strong demand remains among the world’s super-rich buyers.
Sean Shi, one of four co-founders of China’s largest hotpot chain, Haidilao International Holding, paid $50 million for a so-called good class bungalow in a prime area near the Botanic Gardens in September, local media The Straits Times reported. It’s at least the third such luxury residence bought by one of the co-founders — at least three of whom are now Singapore citizens — or their family members.
