Tag Archives: Singapore Property

A country bordering on xenophobia?

Immigration and its impact on property prices were hot issues at the 2011 general election
By Khalil Adis

Beneath the façade of multi-racial and harmonious Singapore are rising tensions fuelled by years of massive immigration under the government’s plan to welcome “foreign talents” from developing countries.

Race and religion have always been a delicate issue which the government has taken great pains to address during the past 40 over years of nation building.

Memories of race riots post-independence are still fresh in the minds of post baby-boomers with the most notable being the 1969 incident between Malays and Chinese.

To foster greater interaction between the different races that make up Singapore, the government has taken pains to integrate them via a unique housing policy that ensures a well-balanced representation of Malays, Indians, Chinese and Eurasians in the different housing estates.

However, the simmering tension now is rather apparent with a united Singapore voice now feeling increasingly marginalised with the arrival of new immigrants from China, the Philippines, India and Myanmar who now have their own enclaves in the heartlands.

One particular incident caused the Singapore community to rally together when a Chinese resident requested a Singapore Indian family to stop cooking curry after mediation by a government agency.
The news story broke shortly after the general election and went viral on Facebook with Singaporeans asking, “shouldn’t a foreigner learn to integrate with locals instead of the other way round?”

There is also growing perception that locals are losing out to jobs and university placements to foreigners, which were contentious issues during the election. Some of the newly arrived immigrants do not appear to be able to speak proper English but are given a head start in Singapore. This raised questions on the quality of immigrants Singapore is trying to attract.

Sure, the influx of foreign labour has artificially pushed up Singapore’s GDP, making it the envy of many nations. However, this isn’t really solving productivity issues that Singapore as a developed country should already have in the first place.

Singapore’s public transport and housing are already bursting at their seams resulting in frequent fights on the MRT trains and high property prices. Some government leaders are also now questioning the effects of immigration on Singapore’s fabric as a nation.
But the question Singaporeans are asking is “shouldn’t this question be asked before immigration policies were implemented in the first place?”

Source: PropertyReport – 2012 Jul 3

Sleepy Joo Chiat to transform into boom town

The neighbourhood of Joo Chiat will undergo major transformation in the next few years, with new buildings and changing demographics to rejuvenate the sleepy area.

Smaller boutique condos with less than 100 units each are springing up, including the sold out 25-unit Studios@Tembeling at average prices of between S$1,200 psf and S$1,300 psf. The freehold Parc Seabreeze along Joo Chiat Road was also fully sold with its 94 units averaging S$1,300 psf.

Launched in 2010, the 127-unit Coralis condominium is 96 percent sold at an average price of S$1,400 psf. Meanwhile, the Red House Bakery, which has been closed for almost a decade, will be remodelled into a mixed-use project comprising homes and shops.

“They will add a new buzz in lifestyle and dining options,” according to Joseph Tan, Executive Director, Residential at CBRE.

“When One KM opens in mid-2014, it will bring in more brands to suit the tastes of the Y-Generation,” he added.

Projects in Joo Chiat offer freehold tenure and easy access to the city. The developments are also adjacent to various amenities such as CHIJ Katong Convent, Tao Nan School, Parkway Parade and East Coast Park.

But Tan Kok Keong, Head of Research and Consultancy at OrangeTee, added that “there are still people who like (Joo Chiat) for being less crowded”.

Long term, the area’s transformation could make it more appealing and “prices would also remain attractive for a freehold property there”, said Ong Kah Seng, Research Director at R’ST.

Source : CNA – 2012 Jul 2