See millions of dollars in exotic cars in a flooded Singapore garage

Torrential rains flooded an underground parking structure of Singapore's St Regis Residences at Tanglin Road, causing major water damage to several exotic sports cars owned by residents of the luxury tower. Heavy rains also damaged a local mall, so no shopping therapy either.

Financial center, Asian Tiger, tax haven and proponent of spankings, the Republic of Singapore is home to one-third more millionaires than last year, thanks to a booming economy and strong stock market. Luxury cars were the strongest sector of automotive sales growth, with Rolls Royce and Ferrari leading the way.

With a 4,000 square foot suite at the St Regis luxury complex costing $10 million, it's no surprise residents' cars are similarly high on the F-U-money spectrum. But don't cry them a river just yet. Singapore is also home to some of the world's largest insurance companies.


(Hat tip to to Zareth!)

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