FTs are now worried about the rising rental costs in Singapore. Prices are going up because expats from Hong Kong are fleeing to our country due to their tight Covid-19 rules. As the competition for residences gets stronger, our rental rates are also increasing the fastest in 10 years.
A 32-year-old British national is saying that rental is too expensive. She has been staying in Sentosa Cove with her family for 6 years and was shocked that landlords are asking for $9500 per month.
She is caught in a dilemma because she likes staying at Sentosa Cove. “Sentosa is a desired spot for young families, where we have easy access to the seas”.
Meanwhile, Singaporean families don’t get to enjoy such luxury. We are already worried about rising costs of food and daily necessities. How can we ever dream about living in Sentosa?
Our country will see more FTs as we welcome expats from Hong Kong and ease our border restrictions. We are already reporting the first increase in 2 years for the employment of non-residents. What is going to happen to them as they compete with one another for expensive properties?
More importantly, what is going to happen to us as our government open their legs to FTs again?