• Wealthy parents in Singapore are buying penthouses for their kids as taxes rise, and it mirrors a change in luxury real estate happening on the other side of the world

    1 month ago - By Business Insider

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    In March of 2019, Singapore was ranked as one of the most expensive cities in the world for the sixth year in a row .
    In an effort to avoid the new and increased tax on homes in Singapore that are not used as permanent residences, parents are buying luxury homes in their children's names, Bloomberg reported.
    The trend extends to Canada , where buyers are renting mansions to college kids to avoid a new empty-home tax.
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    Singapore is one of the most expensive cities in the world .
    Unsurprisingly, wealthy buyers dominate its housing market...
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