expatriates harder to live

Singapore has dropped in rankings to 3rd place for the most desirable countries for expatriates to work and live in.

The Global HSBC survey has decided to rank the republic 3rd after Germany and China amid rising concerns on job security as well as integration of the expatriates to the local community. As Singaporeans have been showing concern about the rising number of foreigners in the country and attributed this to the rising cost of housing and other necessity cost, the government start to impose restrictions on its foreign labour policies.

In particular, employers will have to deposit their job vacancy advertisements into the job banks for 14 days before they are allowed to hire foreigners.

Foreigners have been finding it hard to integrate to the local community. One such expatriate has been comparing her stay in Singapore to her stay in Thailand. She has advised that the Thais are very friendly as she was introduced to her roommates by a fellow roommate.

As there is now restrictive policy on foreigners, there remains to see if prices of The Hillford Launch will be affected as there are many foreigners living around in the Bukit Timah area.

foreign buyers

Despite the hefty Additional Buyer Stamp Duty on foreigners buying Singapore Properties, foreigners still account for 9% of Singapore condominiums for the 1st nine months of 2013.

The single largest group of property buyer were from China, which alone account for more than 30% of the foreigners that bought Singapore properties. Next to follow very closely is the Indonesians, who felt that Singapore property provide a safe haven for the high inflation rate in certain parts of the country

Surprisingly, despite the introduction of the ABSD, the percentage of foreigners who bought Singaporean property increase from 8% to 9%. Research might indicate that the ABSD has more impact on Singaporeans instead who are still required to pay ABSD for multiple properties.

Research has also shown that some China buyers have shift their interest from Singaporean Residential properties to the commercial sector as the price has increase quite a bit despite the cooling measures.

The Hillford Condo might receive a different response due to the very affordable price that it is launching. This might attract more local buyers who have always been very interested in the Beauty World and Upper Bukit Timah area