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Managing distortions from people parking money in Singapore property

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Leslie Yee

Leslie Yee

Published Mon, Aug 28, 2023 · 02:24 PM
    • Property in Singapore can be attractive to people looking for safe havens, including money launderers.
    • Property in Singapore can be attractive to people looking for safe havens, including money launderers. PHOTO: BT FILE

    IN DENSELY populated Singapore, living in a detached home in a Good Class Bungalow (GCB) Area can offer one a haven – a luxurious abode sitting on land of over 15,000 square feet, ensconced in leafy enclaves in prime locations.

    Living in a GCB also confers social status. These homes can be great for entertainment, personal wellness, family gatherings and business meetings.

    By affording privacy, these houses might also be useful for those engaging in shady activities who want to avoid nosy neighbours – or law enforcement.  

    Money launderingSingapore propertySingapore residential propertyThe Level GroundSpotlight

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