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Thread: CM 7 is out!

  1. #1
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    Default CM 7 is out!

    Hey Guys,

    This time the CM is coming not from MAS but from MoM

    Read this:
    http://www.mom.gov.sg/foreign-manpow...s/default.aspx

    and its discussion in expats forum:
    http://forum.singaporeexpats.com/ftopic91377.html

    This is surely going to impact housing prices as well as rentals, expats will leave this place in droves and then locals are going be left high and dry, be warned

  2. #2
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    they upped the bar for expats coming here?

  3. #3
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    Quote Originally Posted by dtrax
    they upped the bar for expats coming here?
    Earlier people could get a 5 yr visa called PEP that is not tied to any employer with just 8k salary or even 4.5k salary(provided they stayed here for 2 years)

    Now you need to earn 12k a month to get the PEP and that too has been reduced to 3 yr visa.

    This will prompt many expats to consider going back since no stability.

  4. #4
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    we are screwing ourself.. .inflation will spike

  5. #5
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    Quote Originally Posted by minority
    we are screwing ourself.. .inflation will spike
    Seriously! Have you guys noticed off late, if you walk past any groceries chain like fairprice, Giant or any Food and Beverages establishments, you will notice, "We are hiring" signs. There is huge shortage of labour out there, due to the foreign labour tightening. This will increase cost overall as well as reduce rental demand.
    Last edited by revhappy; 06-11-12 at 23:04.

  6. #6
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    ooh.. lots will be affected. I personally know a few... and those are already planning next steps

  7. #7
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    This will impact the HDB rental market especially. Reason being prior to this, such pass holders are earning not that fantastic salary, a salary that couldnt afford them to rent a $3000 1bedroom private condo up to $8000 3 bedroom condo. This original group of people (mostly from filipinos or indians) form the bulk of hdb rental market.

  8. #8
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    Quote Originally Posted by revhappy
    Seriously! Have you guys noticed off late, if you want past any groceries chain like fairprice, Giant or any Food and Beverages establishments, you will notice, "We are hiring" signs. There is huge shortage of labour out there, due to the foreign labour tightening. This will increase cost overall as well as reduce rental demand.
    Bro, steady. Let's ask a simple question, who wanted less foreigners? Singaporeans right. We raised our voices and say foreigners are depressing our salary, we cannot compete. We say, they are stealing our jobs. I thot, that was wat I heard in the last election.

    So, now the govt react and there will be an impact, right? Will the impact be great? So what is the impact?

    No one clean the tables. Companies have difficulty hiring, so now need to hire locals. Locals will now want higher pay. This will translate to higher cost of goods. Inflation kick in. People will now want more pay. It's a vicious cycle.

    But who wanted it?

    So what next, says the govt. this part, I will leave it to you all to figure out. If u were the govt, what would u do when Singaporeans feel the impact and again start to complain?

  9. #9
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    so minimal impact, or if any, on private property rental.

  10. #10
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    Bro, this takes effect dec. when Singaporeans suffer, what do they do best? Complain to their MPs..... Then what happen?

    Think step by step.... There is always a solution to any problem. U think Singapore can function without foreigners??? Think like the govt.

  11. #11
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    Quote Originally Posted by leesg123
    so minimal impact, or if any, on private property rental.
    Actually the tightening is both at the low end as well as the high end jobs. The original post is about expats with salaries b/w 8k and 12k being impacted.

    Another thing that will happen is lots of companies will go bust due to labour costs, affecting commercial property as well.

    Many manufacturing companies will move up north and expats in these companies will be hit, as it is banks where most expats are working are not doing well.

    So its a sorry picture for private property as well.

  12. #12
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    Quote Originally Posted by chestnut
    Bro, this takes effect dec. when Singaporeans suffer, what do they do best? Complain to their MPs..... Then what happen?

    Think step by step.... There is always a solution to any problem. U think Singapore can function without foreigners??? Think like the govt.
    The thing is no matter what the gahmen do, people wont be happy. Even though they know clearly that growth and GDP will be impacted if they cut foreign labour, they have to do it otherwise next elections they wont be there. Reduced growth is better than some novice bunch of coalition parties ruling and screwing up everything altogether.

  13. #13
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    four letters. L P P L

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    Quote Originally Posted by revhappy
    The thing is no matter what the gahmen do, people wont be happy. Even though they know clearly that growth and GDP will be impacted if they cut foreign labour, they have to do it otherwise next elections they wont be there. Reduced growth is better than some novice bunch of coalition parties ruling and screwing up everything altogether.

    Like I say Singaporean we just complain too much and are never realistic. Want everything dont want to give.

    anyway pay the price guys.. thats what I told pple b4 the election. we are playing with fire.

  15. #15
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    Quote Originally Posted by revhappy
    Seriously! Have you guys noticed off late, if you walk past any groceries chain like fairprice, Giant or any Food and Beverages establishments, you will notice, "We are hiring" signs. There is huge shortage of labour out there, due to the foreign labour tightening. This will increase cost overall as well as reduce rental demand.

    its not just F&B, in construction , in serivce industry, all same. shortage. the jobs are going to Malaysia. Why? coz cannot get EP here. and those companies who got the enjoy and realize malaysia is cheaper? they never will return to singapore.

  16. #16
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    Finally Mr B will come say "I told u so!"


  17. #17
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    Quote Originally Posted by leesg123
    so minimal impact, or if any, on private property rental.

    Those OCR MM campers.. and OCR 1600psf folks will be crying.... coz have to stay themselves! no tenants .

    even can get will be poor yield.

  18. #18
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    5 years later citizens will complain to the government about structural unemployment. We are heading in the wrong direction. Government should still allow foreigners to come and work, but levy a higher personal income tax on them. This levy collected can go into benefits for the citizens.

  19. #19
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    Quote Originally Posted by hyenergix
    5 years later citizens will complain to the government about structural unemployment. We are heading in the wrong direction. Government should still allow foreigners to come and work, but levy a higher personal income tax on them. This levy collected can go into benefits for the citizens.
    what makes u think by then the foreigners want to come back? now the situation is right. US is down , Europe is down. Its easy to attract. 5yrs later u have to give them tax break to come. maybe even pay them to come.!

  20. #20
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    Quote Originally Posted by minority
    what makes u think by then the foreigners want to come back? now the situation is right. US is down , Europe is down. Its easy to attract. 5yrs later u have to give them tax break to come. maybe even pay them to come.!


  21. #21
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    Quote Originally Posted by revhappy
    Hey Guys,

    This time the CM is coming not from MAS but from MoM

    Read this:
    http://www.mom.gov.sg/foreign-manpow...s/default.aspx

    and its discussion in expats forum:
    http://forum.singaporeexpats.com/ftopic91377.html

    This is surely going to impact housing prices as well as rentals, expats will leave this place in droves and then locals are going be left high and dry, be warned
    Do you know anyone (Singaporean) because of the so call expats was forced to resign from their work. The gov have finally realize some of these so call expats are good for nothing and causing lot of unhappiness among the Singaporean and if the don't do sometime than the unhappiness will sure result in more vote losses in the next election.
    Last edited by Arcachon; 07-11-12 at 00:39.

  22. #22
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    Quote Originally Posted by Arcachon
    Do you know anyone (Singaporean) because of the so call expats was forced to resign from their work. The gov have finally realize some of these so call expats are good for nothing and causing lot of unhappiness among the Singaporean and if the don't do sometime than the unhappiness will sure result in more vote losses in the next election.

    I know of singaporean not wanting to hiring older Singaporean. Coz they consider older singaporean not useful and fear that the more experience person will take his job. I call this short sightness.


    Well when the MNC move to malaysia and the so call Singaporean no job. lets see who they got to blame.

  23. #23
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    Quote Originally Posted by Arcachon
    Do you know anyone (Singaporean) because of the so call expats was forced to resign from their work. The gov have finally realize some of these so call expats are good for nothing and causing lot of unhappiness among the Singaporean and if the don't do sometime than the unhappiness will sure result in more vote losses in the next election.

    Well the govement will still loose votes becoz of self induce high inflation and possible future structured unemployment.

    PPle just need to open their eyes look outside the well.

  24. #24
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    Quote Originally Posted by revhappy
    Hey Guys,

    This time the CM is coming not from MAS but from MoM

    Read this:
    http://www.mom.gov.sg/foreign-manpow...s/default.aspx

    and its discussion in expats forum:
    http://forum.singaporeexpats.com/ftopic91377.html

    This is surely going to impact housing prices as well as rentals, expats will leave this place in droves and then locals are going be left high and dry, be warned
    Huh.. what kinda CM is that?

    There is a whole bunch for foreigners dying to get here .. just hoping to get out of their miserable country.. and govt to trying to slow down this bunch..

    All it means is drive out the shitt from here and time to do a little clean up.
    whole bunch of good for nothing foreigners here.. all it means is time for them to go home...

    Singapore will still be there .. just better

    Losers will be HDB rental..gainer will be CBD condos with more 'elite' people wanna stay in singapore..

  25. #25
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    Last edited by Arcachon; 07-11-12 at 00:54.

  26. #26
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    Quote Originally Posted by rockinsg
    Huh.. what kinda CM is that?

    There is a whole bunch for foreigners dying to get here .. just hoping to get out of their miserable country.. and govt to trying to slow down this bunch..

    All it means is drive out the shitt from here and time to do a little clean up.
    whole bunch of good for nothing foreigners here.. all it means is time for them to go home...

    Singapore will still be there .. just better

    Losers will be HDB rental..gainer will be CBD condos with more 'elite' people wanna stay in singapore..
    Precisely, of course some lower end condo might be affected, as some of these 'fake' expat do like to rent condo cos worth it as can bath at the pool toilet, many many to a unit (3 share a room).

  27. #27
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    this is interesting development. let's see how things pan out in the next 6 months to 1 year.

  28. #28
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    Quote Originally Posted by minority
    Well the govement will still loose votes becoz of self induce high inflation and possible future structured unemployment.

    PPle just need to open their eyes look outside the well.
    Have you ever apply a job to work oversea as an expat.

  29. #29
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    Quote Originally Posted by Arcachon
    Have you ever apply a job to work oversea as an expat.
    very tough to get something in europe, the company has to jump through many hoops to justify why you should be employed over someone from the EU.

  30. #30
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    Singapore job opening so big, all Tom, Dick and Harry also can apply.

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