Shawn, whose loft-style apartment in Singapore’s leafy central Bukit Timah region was paid for entirely by his mother, is one of a lucky few. But his ranks are growing as families seek to work around cooling measures, including raised stamp duties on second and third homes, by buying properties for their children.
Singapore rich kids end up with penthouses as parents skirt tax
(July 31): Not many 24-year-old university students live in a S$1.2 million ($875,000) penthouse, kitted out with a Herman Miller Aeron office chair and Lelit espresso machine. Especially not in Singapore, one of the world’s most expensive property markets.
