View Full Version : Immigration Policy and Property
Just wondering what will happen to property bought for investment?:scared-3:
Just some of the recent Changes I have seen in Immigration Policy.
- Someone who is here for more than 7 years and > 15-18K combined family salary been rejected PR.:beats-me-man:
- A big banks' IT positions are not allowed to bring foreigners. Was applied EP, was at > 8K salary.
Till nowI have observed it for people from specific country. Not sure if its happening for all nationality.:cool:
Doesn't look like coming days will be good for property especially given incoming supply.
Some Idea whats going on @ MOM and ICA? Will they be opening the floodgates again in next few years?:confused:
Or will it be slow and steady abyss for rental properties?
That too in face of one of the British bank moving almost all of their IT operations to India :scared-1:. Whats the Govt intention?
buttercarp
13-04-12, 22:55
As long as there is influx, there will be a demand for property.
If not PR, can still buy condo although subjected to the ABSD.
If they don't buy, then they rent which is good for those who bought for investment.
As long as there is influx, there will be a demand for property.
If not PR, can still buy condo although subjected to the ABSD.
If they don't buy, then they rent which is good for those who bought for investment.
You missed the point.
- Banks moving junior IT positions. i.e. No OCR rental support.
- No EP for junior positions . I guess <8-9K will be new Minimum.. i.e. no OCR support again.
With already so much OCR property coming online. How the rental will be supported. :beats-me-man:
What influx you talking about?
buttercarp
13-04-12, 23:32
You missed the point.
- Banks moving junior IT positions. i.e. No OCR rental support.
- No EP for junior positions . I guess <8-9K will be new Minimum.. i.e. no OCR support again.FT
With already so much OCR property coming online. How the rental will be supported. :beats-me-man:
What influx you talking about?
I dunno.... but I tot still got FT coming in?
My opinion. Policy is in a current state of flux due to the rude awakening last GE. The knee jerk reaction was to immediately address the core complaints of foreigners stealing our jobs and making property price out of our reach... So there. Consequences? Wait until after landslide win in next GE then talk la. Our minister salary already drastically reduced...
ikan bilis
13-04-12, 23:54
PR rejected or not rejected by ICA, i think those backend IT jobs will still be moved to india... :D
I dunno.... but I tot still got FT coming in?
Can we somewhere get the latest data on the population figured?
I would be surprised to see any rise in PR/FT. I would expect a decline in next Quarter due to no. of companies moving job overseas.
One of the Bank is already giving option- go India or get a pink slip :scared-5:
PR rejected or not rejected by ICA, i think those backend IT jobs will still be moved to india... :D
and the joke of the year is after it is move to india , it is outsource to malaysia
phillipines and singapore because of working attitude time differenced cost n for the lack of a better word quality.
some banks has begin to insource n contractors are within the bank hired payroll.
they gotton wise when they found out the problem n time cause by outsouring is more then the 15 ~ 20% saves.
a case of been dumb founded by smart talkers who are highly confident when selling solutions
At the end of the day, the influx of foreign workers will be maintained and the quality will be upped. Another concern the the foreign workers are gradually given less attractive packages, including housing.
My colleague is a PR and just got rejected in his application to be a citizen, he and his family. Then his friend also got rejected in her application to be a PR. I guess it is true that the govt just wants to prove a point, i.e. they are listening to the citizen's complaints. :rolleyes:
phantom_opera
14-04-12, 07:55
Go changi city point koufu foodcourt on a weekday lunch hours n check it out
will see tons of foreigners pack & go in next 1-2 yrs....50% of them should be gone....
so you will see suddenly they stop paying rental....you can have their deposit, they probably already empty & cash out all your furniture & electrical....& the unit in a big mess....burn a big hole to renovate again yet can't rent & sell after that....then they just pack & head towards changi airport....
spore will be a much better place without all these xxxxxx......most original sporean will not fight for spore anymore unlike 10-20 yrs ago, no more stand up for spore as spore don't stand up for them...only for a small little group....
no more respect to the govt & ministers, because is not respectable....
with skill, do & plan for yourself & your family.....;););)
Go changi city point koufu foodcourt on a weekday lunch hours n check it out
don't scare me...
what do you see there? :scared-3::scared-4:
don't scare me...
what do you see there? :scared-3::scared-4:
Changi city point leh. Not changi point. Why scared?
will see tons of foreigners pack & go in next 1-2 yrs....50% of them should be gone....
so you will see suddenly they stop paying rental....you can have their deposit, they probably already empty & cash out all your furniture & electrical....& the unit in a big mess....burn a big hole to renovate again yet can't rent & sell after that....then they just pack & head towards changi airport....
spore will be a much better place without all these xxxxxx......most original sporean will not fight for spore anymore unlike 10-20 yrs ago, no more stand up for spore as spore don't stand up for them...only for a small little group....
no more respect to the govt & ministers, because is not respectable....
with skill, do & plan for yourself & your family.....;););)
Another stupid rant....... common u can do better bullshit than this .
Another stupid rant....... common u can do better bullshit than this .
a real moron.....
phantom_opera
14-04-12, 11:36
Pinoys and Indians everywhere, next is Burmese
Friend, we are in the global world now and not like 20 years ago. Even our national football and swimming teams have foreigners. We will lose if we remain stubborn to keep foreigners out. We are competing in a different league these days unless we want low GDP.
will see tons of foreigners pack & go in next 1-2 yrs....50% of them should be gone....
so you will see suddenly they stop paying rental....you can have their deposit, they probably already empty & cash out all your furniture & electrical....& the unit in a big mess....burn a big hole to renovate again yet can't rent & sell after that....then they just pack & head towards changi airport....
spore will be a much better place without all these xxxxxx......most original sporean will not fight for spore anymore unlike 10-20 yrs ago, no more stand up for spore as spore don't stand up for them...only for a small little group....
no more respect to the govt & ministers, because is not respectable....
with skill, do & plan for yourself & your family.....;););)
Friend, we are in the global world now and not like 20 years ago. Even our national football and swimming teams have foreigners. We will lose if we remain stubborn to keep foreigners out. We are competing in a different league these days unless we want low GDP.
Ur script sound like MIW....
Any difference to our pay is GDP increased or decreased 10 fold? Nah, only benefit/affect some minority.
Cheers!
Singapore is already in the super league as we are no longer a third world and even losing the benefit of a developing nation. There is limited choice going forward. These FTs or even labours also come here to spend money to boost our economy besides working here.
Ur script sound like MIW....
Any difference to our pay is GDP increased or decreased 10 fold? Nah, only benefit/affect some minority.
Cheers!
rattydrama
14-04-12, 13:05
50% left and still got 500% on the Q. Now dopting play hard to get strategy.
You look at those big engineering consultantcy firm, maybe 80% are all foreigners, they have the qualifications, big ones and willing to be paid lesser. They are staying here for good.
No way they can get the same living standard and income in their home country.
will see tons of foreigners pack & go in next 1-2 yrs....50% of them should be gone....
so you will see suddenly they stop paying rental....you can have their deposit, they probably already empty & cash out all your furniture & electrical....& the unit in a big mess....burn a big hole to renovate again yet can't rent & sell after that....then they just pack & head towards changi airport....
spore will be a much better place without all these xxxxxx......most original sporean will not fight for spore anymore unlike 10-20 yrs ago, no more stand up for spore as spore don't stand up for them...only for a small little group....
no more respect to the govt & ministers, because is not respectable....
with skill, do & plan for yourself & your family.....;););)
Singapore is already in the super league as we are no longer a third world and even losing the benefit of a developing nation. There is limited choice going forward. These FTs or even labours also come here to spend money to boost our economy besides working here.
U still havnt answer what are the tangible benefits for commoners in high GDP? High GDP is just a number to justify the high pay of the decision makers. The real income for the majority declines in most cases of high GDP growth.
phantom_opera
14-04-12, 13:41
The truth is Singapore is pro-business, at the expense of the lowest strata of the society
The garmen keeps refusing to set minimum wages ... import of cheap labor from SEA countries simply depress the wages of cleaners, restaurant service staff, factory workers etc
It is very good to grow your net worth in Singapore if you are already rich or belong to the upper middle class with family income exceeding 12k per month
It is a nightmare to be a fragile old man without financial support from anybody
Only politics can change all these, high COE / property prices may eventually upset the middle class enough to throw PAP out of the window if they are not careful to re-balance their inclination in favoring the rich
Singapore society can never be gracious ... if you know what I mean
The truth is Singapore is pro-business, at the expense of the lowest strata of the society
The garmen keeps refusing to set minimum wages ... import of cheap labor from SEA countries simply depress the wages of cleaners, restaurant service staff, factory workers etc
It is very good to grow your net worth in Singapore if you are already rich or belong to the upper middle class with family income exceeding 12k per month
It is a nightmare to be a fragile old man without financial support from anybody
Singapore society can never be gracious ... if you know what I mean
Not that I pro-PAP. The problem is our neighbouring countries cost of living is lower and currencies are weaker than Singapore. Companies will also find it very expensive to start or expand in Singapore. Iskandar is a threat to Singapore and will take off if min wage is implemented. The better strategy is to have assistance schemes to help lowest income group.
.......
The garmen keeps refusing to set minimum wages ... import of cheap labor from SEA countries simply depress the wages of cleaners, restaurant service staff, factory workers etc
....
It is a nightmare to be a fragile old man without financial support from anybody
.....
would people WILLINGLY pay more for their daily cup of kopi-o, knowing that it is for a good cause?
Not that I pro-PAP. The problem is our neighbouring countries cost of living is lower and currencies are weaker than Singapore. Companies will also find it very expensive to start or expand in Singapore. Iskandar is a threat to Singapore and will take off if min wage is implemented. The better strategy is to have assistance schemes to help lowest income group.
a old singaporean lecturer going over to iskandar to teach.
hearsay from him, a few uni are setting up there..
Unfortunately, it is not meant for the commoners. Just my frank opinion. They could help them by giving vouchers and hope that they can after themselves by having their scheme in place. like annuity, buy-back housing scheme, etc. It much better than other developed countries. It is a fact of life.
U still havnt answer what are the tangible benefits for commoners in high GDP? High GDP is just a number to justify the high pay of the decision makers. The real income for the majority declines in most cases of high GDP growth.
Garment is trying to redistribute the wealth with all these taxation schemes. Sandwiched class is the worst of them all. :beats-me-man:
The truth is Singapore is pro-business, at the expense of the lowest strata of the society
The garmen keeps refusing to set minimum wages ... import of cheap labor from SEA countries simply depress the wages of cleaners, restaurant service staff, factory workers etc
It is very good to grow your net worth in Singapore if you are already rich or belong to the upper middle class with family income exceeding 12k per month
It is a nightmare to be a fragile old man without financial support from anybody
Only politics can change all these, high COE / property prices may eventually upset the middle class enough to throw PAP out of the window if they are not careful to re-balance their inclination in favoring the rich
Singapore society can never be gracious ... if you know what I mean
Can start buying properties across. The day will come where older Singaporean will be staying there with so high cost of living in Singapore.
a old singaporean lecturer going over to iskandar to teach.
hearsay from him, a few uni are setting up there..
Can start buying properties across. The day will come where older Singaporean will be staying there with so high cost of living in Singapore.
They alrewdy start to raise ane double the price liao for foreignere.!!!
They have planned for it but not implemented yet as announced two days ago. Raise to RM1mil for foreigners. Better buy properties that are more than a mil in good location. no foreigners can buy those resale at below RM1mil if this rule goes through.
They alrewdy start to raise ane double the price liao for foreignere.!!!
Friend, we are in the global world now and not like 20 years ago. Even our national football and swimming teams have foreigners. We will lose if we remain stubborn to keep foreigners out. We are competing in a different league these days unless we want low GDP.
I think having "quality" FT is more important.
and going to the internet to get programing code for what out import talent are doing is frightfully dangourous, because no one know how his coding works.
that is not consider talent but a failure by HR and the failure of the people to keep on accepting these practice for fear of having them send home for the sense of guilt.
My colleague is a PR and just got rejected in his application to be a citizen, he and his family. Then his friend also got rejected in her application to be a PR. I guess it is true that the govt just wants to prove a point, i.e. they are listening to the citizen's complaints. :rolleyes:
for every one that kena rejected a few thousand already pass thru over the years and they have earned and SAVED BIG money and NOW they are out in force to BUY BUY BUY....:hell-hath-no-fury: ..beware :D
Immigration crucial in baby-scarce Singapore: government paper
By Imelda Saad | Posted: 24 April 2012 1416 hrs
SINGAPORE: Singapore needs to continue attracting immigrants to slow down the decline and ageing of its citizen population, according to a paper released by the National Population and Talent Division.
By 2030, the number of elderly citizens will triple to 900,000, representing about 30 per cent of the population.
Compounding this is Singapore's low Total Fertility Rate (TFR) of 1.2, well below the replacement rate of 2.1.
In its latest report, the National Population and Talent Division sets out five scenarios: one, if the TFR goes up to the replacement rate of 2.1; two, if the TFR is at the current 1.2 and with no immigration; and the rest, with the current fertility rate but with an inflow of 15,000, 20,000 or 25,000 new citizens each year.
The scenarios are not predictions or forecasts, but illustrations of the growth and change in population that will occur if certain assumptions about future demographics trends prevail over a projected period.
Without immigration, the paper shows that citizen deaths will exceed births in 13 years. By 2025, the population will also start to age and shrink, with the median age being 45 - up from the current 39 years.
The citizen workforce will also start to shrink, with fewer working-age citizens supporting each elderly citizens.
Currently, there are 6.3 working-age citizens supporting each elderly citizen.
By 2030, this ratio will drop to 2.1 is to 1.
With more exiting the workforce, economists say the burden of taxes will fall on the smaller pool of working adult citizens.
Associate Professor Tan Khee Giap, co-director of Asia Competitiveness Institute at the Lee Kuan Yew School of Public Policy, said: "There is a trade-off here, that all Singapore citizens...must accept that if they want to be helped, to be subsidised when they are old...as less Singaporeans are now paying tax in support of the ageing population...then you must grow the economic cake. And if you want to grow the economic cake with less Singaporeans, you must accept foreign workers."
The paper points out that immigration will help slow down the decline in the pool of working-age citizens. With no immigration and at the current fertility rate, this pool will hit about 1.3 million in 2060. With 20,000 or 25,000 new citizens each year, this figure will be bumped up to about 2 million.
Immigration will also help to slow down the rate of ageing among the population. With no immigration and at the current fertility rate, the median age of citizens will be 47 in 2030. But if 20,000 or 25,000 citizenships are granted each year, the median age will go down to about 44 years of age, the same year.
Taking in 20,000 to 25,000 new citizens each year will also bump up the citizen old-age support ratio slightly from 2.1 to 2.4 working citizens for every elderly citizen, in 2030.
Singapore has been granting between 18,000 and 20,000 citizenships to foreigners over the past three to four years.
blackapple
24-04-12, 21:53
Immigration crucial in baby-scarce Singapore: government paper
By Imelda Saad | Posted: 24 April 2012 1416 hrs
Singapore has been granting between 18,000 and 20,000 citizenships to foreigners over the past three to four years.
Are you sure the number is 18000 to 20000 ?
Imagine a FT become a citizen, he will bring along his family of 3. Thus every years, the new citizen grown by 72000 or 80000. Do not be fool.
They are talking about those who are elgiible to pay taxes and not their dependents.
Are you sure the number is 18000 to 20000 ?
Imagine a FT become a citizen, he will bring along his family of 3. Thus every years, the new citizen grown by 72000 or 80000. Do not be fool.
Given our state of affairs (low fertility rate and aging population), the scale tips heavily towards the government's pro-immigration policy. Many forum members here are beneficiary of this policy from 2005 to 2010 when they bought properties during this period.
Import orphans from other countries and brain wash them in state run "human farms"..... :scared-3:
This is one of the developed country's challenges. Less people to support the aging population and therefore pay more tax. :scared-3:
In 2008, the minimum investment in Malaysia for foreigners was RM 250k.
In 2010, it has raised to RM 500K.
In 2012, it is going to be RM 1M?
In 2016, it is going to be RM 2M???
I have a couple of friends bought the property in the range of < RM 1M. Only one guy bought > RM 1M.
Need to "fire sell" now (The appreciation is about 50%).
Thanks,
Richard
There will be while paper on population growth coming end of this year.
Anyone has any hint?
Thanks,
Richard
speculator
24-04-12, 22:41
There will be while paper on population growth coming end of this year.
Anyone has any hint?
Thanks,
Richard
the hint was already published today. :D
Govt "test water" first before they publish the numbers. Last time Mr Mah straightway said 6.5mil and they got "slightly burnt" in 2011 result. This time they "test water" first. :)
https://www.nptd.gov.sg/content/dam/nptd/Occasional%20Paper%20-%20Citizen%20Population%20Scenarios.pdf
recap in 2007.
Mah Bow Tan explained why we need 6.5 mil.
http://www.pap.org.sg/articleview.php?folder=PT&id=1758
https://www.nptd.gov.sg/content/dam/nptd/Occasional%20Paper%20-%20Citizen%20Population%20Scenarios.pdf
If you are given a multple choice exam which you have no clue, the best bet would be C:
A: Increase the birth rate to 2.1
B: No immigration
C: 15K per year
D: 20K per year
E: 25K per year
Why don't they have the more sustaible 5K choice?
Thanks,
Richard
https://www.nptd.gov.sg/content/dam/nptd/Occasional%20Paper%20-%20Citizen%20Population%20Scenarios.pdf
If you are given a multple choice exam which you have no clue, the best bet would be C:
A: Increase the birth rate to 2.1
B: No immigration
C: 15K per year
D: 20K per year
E: 25K per year
Why don't they have the more sustaible 5K choice?
Thanks,
Richard
You either with us our against us :p
Only thing to watch would be deterioration of quality of life here.
Already infrastructure is getting bad. Is there any option of throwing out all these oldies to Malaysia?:cheers5:
http://www.singstat.gov.sg/stats/keyind.html
Total Live-Births
39,630
With total births at 40K per year, the gap is about 10k. (I remember 10 years ago, the Primary One students were 50K).
If the goverment still wants to "grow" the population, 15K seems to be the barely mininum.
But 15K/40K = 37%
That is still a high percentage. If you count PR and foriengers, locally born Singaporens will become sadly minority.
It is time to focus on the quality rather than quantity.
Thanks,
Richard
I need to recalculate the percentage number taking the resulting total population.
Here are the local born singapore percentage.
A. 100%
B. 100%
C. 40K / (40K + 15K) = 72%
D. 40K / (40K + 20k) = 66%
E. 40k / (40k + 25k) = 61%
Still feel Choice C will be the hinted answer.
If 50K is the sustaiable number, why don't we increase the local births to 45K and import another really good 5k. So the ratio will be:
A+: 45K / (45K + 5K) = 90%
I believe most Singaporeans will accept this A+ ratio.
Thanks,
Richard
Import orphans from other countries and brain wash them in state run "human farms"..... :scared-3:
LIKE!!!!!!!!!!
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