News Forum - Singapore home sales down 22%, as expat workforce hits 12-year low

[Thaiger]

Home sales in Singapore have fallen to their lowest rate in nearly 2 years, as cooling policies and rising property taxes slowed the residential market. The number of foreign white-collar professionals working in the city-state has also reached a 12-year low. The poor property sales reflect a lack of consumer confidence after the Singapore government raised taxes on high-end residences in February and strove to cool a spike in property prices last year, according to a report by the Bangkok Post. Last month, the number of new private condominiums sales dropped to 527 units. That’s 22% lower than the previous […]

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[AlexPTY]

Pretty expensive place to be an expat

[BigHewer]

8 minutes ago, AlexPTY said:

Pretty expensive place to be an expat

Absolutely. Property is a killer. I had a friend who rented a 2 bedroom condo in Ang Mo Kio (not central) for USD1600 per month. Moved to Johor Bahru across the Malaysian border and got a three storey house for USD800. Commute increased from 20 to 90 minutes but worth it. 

I couldn’t imagine living there.

[Marc26]

8 minutes ago, BigHewer said:

Absolutely. Property is a killer. I had a friend who rented a 2 bedroom condo in Ang Mo Kio (not central) for USD1600 per month. Moved to Johor Bahru across the Malaysian border and got a three storey house for USD800. Commute increased from 20 to 90 minutes but worth it. 

I couldn’t imagine living there.

Try Hong Kong

A decent 2 bdrm condo is 10kusd/mo

 

I got offered a great job in Singapore, trading US/Canada for a hedge fund, they would have paid for accomodation, etc

 

But I was younger and would have had to work Friday nights and have Sunday off, seems foolish now that was a worry.....

[BigHewer]

4 minutes ago, Marc26 said:

Try Hong Kong

A decent 2 bdrm condo is 10kusd/mo

I got offered a great job in Singapore, trading US/Canada for a hedge fund, they would have paid for accomodation, etc

But I was younger and would have had to work Friday nights and have Sunday off, seems foolish now that was a worry.....

Yeah Hong Kong is ridiculous. Luckily not in my sphere of travel / transit. Haven’t been there since 1998 and no intention to return. Singapore however…

[Cathat]

It often works out cheaper to keep expats in 5 star hotel suites when working in singapore even long term.

Some of the oil majors used rent entire hotel floors yearly due not only to the insane cost but also the ridiculous one sided contract's many landlords demanded.

Probably still the same.