The large number of foreigners coming to work in Singapore’s two Integrated Resorts (IRs) are contributing to the demand for HDB flats especially in the Telok Blangah area.
The Resort World Sentosa, run by Malaysia’s Genting Group was reportedly looking for hundreds of HDB flats for rent.
It did not reveal the number of foreigners it is hiring though an official statement released to the press promised that Singaporeans will be given “priority” in the job recruitment.
Resort World had announced that it will be hiring 20,000 people. It did not state the number of foreigners it will be recruiting.
Filipino President Gloria Arroyo said in April this year that around 5,000 new jobs would be made available to Filipinos in the island resort of Sentosa in Singapore. (Source: GMA news)
Official figures provided by the Ministry of Manpower lump citizens together with permanent residents as “resident” workforce and there is no way to determine the exact percentage of jobs which have gone to the locals.
Property experts say that though the influx of foreigners have led to a spike in demand for HDB flats, overall rentals are likely to remain steady due to the large stock of flats available for rent islandwide.
Foreigners slotted to work at the soon-to-open integrated resort (IR) there are scouting for rental units.
The two IRs are scheduled to be open next year. Marina Bay Sands was supposedly to be opened in December this year, but was postponed due to the financial difficulties of its parent company in Las Vegas.
The current average monthly rental in Telok Blangah for a three-room HDB flat is about $1,700 while a four-room HDB flat goes for about $2,000.
The asking prices for flats in Tanjong Pagar have risen to $2,300 a month for a three-room flat to $2,800 a month for a five-room flat.
The Resort World Sentosa, run by Malaysia’s Genting Group was reportedly looking for hundreds of HDB flats for rent.
It did not reveal the number of foreigners it is hiring though an official statement released to the press promised that Singaporeans will be given “priority” in the job recruitment.
Resort World had announced that it will be hiring 20,000 people. It did not state the number of foreigners it will be recruiting.
Filipino President Gloria Arroyo said in April this year that around 5,000 new jobs would be made available to Filipinos in the island resort of Sentosa in Singapore. (Source: GMA news)
Official figures provided by the Ministry of Manpower lump citizens together with permanent residents as “resident” workforce and there is no way to determine the exact percentage of jobs which have gone to the locals.
Property experts say that though the influx of foreigners have led to a spike in demand for HDB flats, overall rentals are likely to remain steady due to the large stock of flats available for rent islandwide.
Foreigners slotted to work at the soon-to-open integrated resort (IR) there are scouting for rental units.
The two IRs are scheduled to be open next year. Marina Bay Sands was supposedly to be opened in December this year, but was postponed due to the financial difficulties of its parent company in Las Vegas.
The current average monthly rental in Telok Blangah for a three-room HDB flat is about $1,700 while a four-room HDB flat goes for about $2,000.
The asking prices for flats in Tanjong Pagar have risen to $2,300 a month for a three-room flat to $2,800 a month for a five-room flat.
