HDB to slow supply of flats from next year

[CY09]

In my own opinion, Malaysians and other FT are essential to our economy. Simple because many of them are willing to do jobs our locals tend to avoid and at lower wages (e.g. retail, F&B, IT related and I am not referring to construction and garbage collection). Without them, we would have to raise wages of this sector which in turn leads to higher COL.

As for housing, because these group of workers are not housed in dorms and with their lower wages are unable to rent private apts. HDB flats has become a viable option to house and let them work here.

Just a question, do you think the proposed MND rule will push HDB flat areas (with lower foreigners staying) to higher prices. This is because there will be increase in demand rental for this flats and thus drive HDB resale prices.

[Temperament]

Please don't send them back, Yeo.

We have similar culture and historical connections.

I even envision one day that we might be a same country again.



A Life not Reflected is a Life not Worth Living.

i think it's a possibility if one day Singapore collapse as a nation. Aka too many new citizens joining the disgruntled and dis-illusioned Singaporeans.

[chialc88]

cy, in theory yes but in practical, the $ effect of the increase will not be felt.

I dare to suspect that those current HDB block rented out to 20% foreigner not only does not command premium but has an lower than average rental value. that's why it's so popular with this group of tenants...




A Life not Reflected is a Life not Worth Living.

[chialc88]

T, don't says collapse lar...
sound so depressing...

Lets say situation had matured that Singapore seek to re-merge with Malaysia... ok?




A Life not Reflected is a Life not Worth Living.

[countonme]

I jus hope the authority close those loop holes that FTs/Msian are exploiting. Like buying HDB and renting them out while they go back stay in JB. And those rental income not declared, and thus tax revenue not collected. There are some progress, but more need to be done by the authority.

[pianist]

how cum the authority dun dare to show % wholly sublet by Malaysians?

or % wholly sublet to Malaysians?

after the gold buyback scheme by Malaysian followed by 'rigging' by Malaysian mgt in the 3 designated counters...the authority seems doesn't wake up?

[sgd]

T, don't says collapse lar...
sound so depressing...

Lets say situation had matured that Singapore seek to re-merge with Malaysia... ok?




A Life not Reflected is a Life not Worth Living.

Singapore leaders will never agree to re-merge in normal circumstances. However the only possibility of any re-merge in my own view is in a humanitarian situation whereby Malaysia agrees help Singapore by re-integrating and take back Singapore. Before any flames start consider 20-30 years time we will know when the ice caps melt totally and sea levels are predicted to rise.

If parts of bangkok are predicted to go underwater by 2030 what do you think about a small island nation like us surrounded by seawater are going to face? In india some coastal villages are already reclaimed by the sea, india is big country these climate refugee can at least be relocated but where we will relocated to if faced in similar situation.

[Bibi]

Well we have to appreciate them as well. They are willing to take some of the lower paying jobs in our manufacturing industry

They are willing to take lower pay because it is considered high back in their home town. Manufacturing Singaporean workers will say they suppressed the salary. Manufacturing Singapore boss will say they help keep business cost down.

So whether they are appreciated depends on which side of equation you are in.

So, it is better to give them a higher pay or rather send them back to malaysia so that our fellow singaporeans can get unsuppressed salary?

Whether it is better or not depends on which side of eqn u r in as mention previously. Middle income will prefer low wage foreigners stay. Low income will prefer them to go away. Likewise middle income might not prefer foreign professionals to stay as they do suppress middle income job salary while lower income dont care about foreign professionals. It is not sending all of them away, but i believe u do agree having too many of them do indeed suppress salary.

[yawnyawn]

Well we have to appreciate them as well. They are willing to take some of the lower paying jobs in our manufacturing industry

They are willing to take lower pay because it is considered high back in their home town. Manufacturing Singaporean workers will say they suppressed the salary. Manufacturing Singapore boss will say they help keep business cost down.

So whether they are appreciated depends on which side of equation you are in.

So, it is better to give them a higher pay or rather send them back to malaysia so that our fellow singaporeans can get unsuppressed salary?

Whether it is better or not depends on which side of eqn u r in as mention previously. Middle income will prefer low wage foreigners stay. Low income will prefer them to go away. Likewise middle income might not prefer foreign professionals to stay as they do suppress middle income job salary while lower income dont care about foreign professionals. It is not sending all of them away, but i believe u do agree having too many of them do indeed suppress salary.

I will just like to compare the real wage growth against the GDP growth in SG. A simple google search brings me to here

"According to the International Labour Organisation’s Global Wage Report 2008/09, between 1995 and 2000, Singapore actually had one of the highest average real wage growth among the developed countries, at 5.75%. But from 2001 to 2007, this dropped to only 1.8%.

In fact, you can see that between 1995 and 2000, Singapore’s average real wage growth had followed the GDP annual growth closely, but between 2001 and 2007, our real wage growth fell way below the GDP annual growth (Chart 5)."

[Image: photo-5-14.png?w=830]

Reference of the ILO wage report 08/09 given here.

Perhaps the garment of the day should have real wage growth as one of their many KPIs!

How i look at it is a matter of demand and supply. If the Msians are sent back, naturally supply of workers will be reduced. Salaries to hire new workers will go up since there is a greater demand for them. Net net citizens gain. I do not believe Singaporeans will not take up the offer if u pay a good amount of money to hire them to be blue collar workers.

Just to be kpo abit. Let's look at the salary of a bus driver in Hong Kong and Singapore.

A bus driver in Hong Kong has a base salary of HKD 8,500 (SGD 1,370) based on a Jan'13 report before a 8% payrise.

While in Singapore, a bus driver for SBST has a base salary of SGD 1,600 after a 16% payrise.

Not too shabby indeed. Looks like the garment may be listening to the peasants after getting a "shock" in GE2011.

[yawnyawn]

how cum the authority dun dare to show % wholly sublet by Malaysians?

or % wholly sublet to Malaysians?

after the gold buyback scheme by Malaysian followed by 'rigging' by Malaysian mgt in the 3 designated counters...the authority seems doesn't wake up?

I digressed too much in the previous post so to bring this back to topic,

HDB has leased two blocks of flats to foreigners before in 2009 via EM Services. Back then, it was for RWS to house their foreign employees and when questioned by in parliament. Khaw replied that this is an commercial arrangement between EM Services and RWS. Very smart indeed.

Basically, EM Services is a joint venture between the Housing & Development Board and Keppel Land Limited.

Personally i feel that the Minister is barking up the wrong tree. Has the congregation of foreigners evolved into such a big issue that requires the MND to intervene and impose a cap on the % of foreigners in HDB flats? If handled improperly, this may not go down well with the electorate(majority staying in HDBs) and with GE2016 looming in 2-3 years time...

just my 2 cents.