The trickle down effect is that these rich foreigners compete with locals for everything from homes to cars to food. Increased demand for a limited supply of all of the above will cause prices to skyrocket. S'porean buyers of landed homes will turn to condos, those who can no longer afford condos will buy HDB flats, and so on and so forth. The result is that prices of ALL types of properties will shoot up! So will the prices of cars. A lot of Sinkies don't realise this, and think they are not affected because they are HDB buyers and aspire to only own Cat A cars. These locals are daft.