One of the main problems Singaporeans have been harping on is the high housing prices in Singapore. Most Singaporeans are either unable to afford a flat or have to take on loans up to 20-25 years to buy a flat in Singapore.
After a long time, the Singapore government had finally began to take action. A new stamp duty of up to 10% will now be imposed on foreign buyers of Singapore properties. It is hoped that this would cool foreigner demand and lower property prices for Singaporeans.
Personally, I have doubts on how effective this would be as property prices are already so high. It’s like closing the door of the barn after the horses had bolted but it’s a good beginning.
Of course, foreigners in Singapore are unhappy with the move with one foreigner named Norman Lu been quoted on Channelnewsaisa that he was very disappointed with the move and he has options which includes leaving Singapore "because I can easily find another job opportunity in another country”.
If Mr. Lu was trying to gain sympathy for the position of foreign buyers of property; man, did he mess up or what! Singaporeans have reacted badly to Mr. Lu comment about foreigners having the option of leaving Singapore. I assure Mr. Lu on this; we know that!
Frankly, Singaporeans do not expect any loyalty from foreigners working in Singapore. We know fully well that the vast overwhelming majority of foreigners here are economic migrants who came to Singapore in search of better jobs. Once the better economic opportunities in Singapore disappear, they would go too. Foreigners in Singapore have no real commitment to Singapore outside this being a place to make money.
Singaporeans accept this. However to have a foreigner working in Singapore complain about a stamp duty, which almost every other country in the world has, and say that he will leave because of it grated on the nerves. Simply put; foreigners have it good in Singapore. Some might argue they have it better than Singaporeans in our own country! So if Mr. Lu has an option of leaving Singapore due to a better opportunity elsewhere; please go!
I don’t this out of anger but simple acceptance. Singaporean don’t expect any loyalty from you to stick it out during bad times, so if you believe you have better opportunities elsewhere, we will not stop you. Please go…and don’t come back.