LT,
I believe every new residency applicant these days needs a guarantor. I think it has less to do with having enough money than it does to provide a straight forward legal means to recoup debt should the applicant come here, run amok, leaving a bunch of unpaid water, electricity, rent bills. Additionally, if one gets all drunked up, drives down the sidewalk laying waste to numerous innocents then flees the country before the "justice system" has a chance to "make things right", one's guarantor might receive a knock on the door.
I needed a guarantor which my lawyer readily agreed to be for an extra US$ 500 each. I think this service may be what ups the lawyer's fees for some applicants to the point where others here find them to be extravagant.
Regardless, for someone who has not lived here before, It's really hard to find someone local willing to act a guarantor apart from one's lawyer, so you end up paying whatever they feel like charging.