Everyone I know is leaving or already left

[Brah]

This year is surely turning into if it hasn't already become the next 2008-2009, and while everywhere is affected, for many MNCs, it will adversely affect Singapore with yet more jobs leaving.

Even Citi are ramping down here, and they were reversing the trend by re-sourcing work back from India to here.

[Wd40]

Yupp, our time in Singapore is already over, we are just trying to somehow carry on with the momentum of being here for so long. Good thing is atleast there is respite from rents not going up anymore. If rents were in the same trend as in 2009-2011, by now they would be 50% higher and that would have put the final nail on the coffin and we would have left SG. But now, somehow topline is not increasing but bottom line too is not going up, so it's somehow OK if you can hold on to something to stay afloat. If not it's okay, it gives us an opportunity to try something new in another place and in hindsight it may be a blessing in disguise. So I would just say, go with the flow.

I have wonder if any longtime bankers on this forum are still here, BillyB, JayCee, Chris Pilgrim, Brian Singapore?

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[rajagainstthemachine]

Am I the only one who's positive despite all the doom and gloom? I don't have to deal with crowds, high rentals and queues. Its starting to resemble the Singapore I knew and loved in 2004.
Now if only the taxi prices came back to that level I'd be overjoyed.

[Wd40]

Am I the only one who's positive despite all the doom and gloom? I don't have to deal with crowds, high rentals and queues. Its starting to resemble the Singapore I knew and loved in 2004.
Now if only the taxi prices came back to that level I'd be overjoyed.

If your job is safe you will hardly notice anything. I guess you have never had to change your job in SG. This is my 4th job in SG. 1st job last 5 years, it was awesome. The last 2 years I have worked in 3 companies, so I know exactly how the market is. The 30 days they give you to look for a new job is totally useless, it takes 6-12 months to find a proper job here. 3-6 months for even 1/2 decent job.If you are in Banking IT, then God save you.

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[The Ref]

If you are in Banking IT, then God save you.

[x9200]

Am I the only one who's positive despite all the doom and gloom? I don't have to deal with crowds, high rentals and queues. Its starting to resemble the Singapore I knew and loved in 2004.
Now if only the taxi prices came back to that level I'd be overjoyed.

I wonder where do you see these effects, I mean less crowd and no queues. Also back in 2004, I paid like $1500 for a 3BR condo in CCK while now, the same condo, only 10++y older is ~$2700. And I feel the food quality is irreversibly worse and ppl on the streets less friendly. The only thing that still keeps me alive is the price per 1TB of the hard-drive nicely and progressively dropping down all these years.

[Wd40]

Also 2004, you could easily buy a house here, you, me anyone could buy. Try buying now.

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[rajagainstthemachine]

Am I the only one who's positive despite all the doom and gloom? I don't have to deal with crowds, high rentals and queues. Its starting to resemble the Singapore I knew and loved in 2004.
Now if only the taxi prices came back to that level I'd be overjoyed.

I wonder where do you see these effects, I mean less crowd and no queues. Also back in 2004, I paid like $1500 for a 3BR condo in CCK while now, the same condo, only 10++y older is ~$2700. And I feel the food quality is irreversibly worse and ppl on the streets less friendly. The only thing that still keeps me alive is the price per 1TB of the hard-drive nicely and progressively dropping down all these years.

Haven't you noticed many restaurants have started to close by 10pm, 9:30 is usually last order.
Many malls in orchard etc have declining audiences. I don't see the crowds I used to see in many of the usual hangouts. Chijmes, CQ, bq. Have you seen bq on a Sunday night? I understand nobody wants to drink on a Sunday night but this wasn't the case many moons ago.
It was just my general observation, you can see on Craigslist rentals coming down to 1500 already for a 2 bed room apartment.

[Brah]

Yupp, our time in Singapore is already over, we are just trying to somehow carry on with the momentum of being here for so long. Good thing is atleast there is respite from rents not going up anymore. If rents were in the same trend as in 2009-2011, by now they would be 50% higher and that would have put the final nail on the coffin and we would have left SG. But now, somehow topline is not increasing but bottom line too is not going up, so it's somehow OK if you can hold on to something to stay afloat. If not it's okay, it gives us an opportunity to try something new in another place and in hindsight it may be a blessing in disguise. So I would just say, go with the flow.

+1 for everything in this post

[earthfriendly]

If more than half of Singaporeans harbour some suspicion (no matter how idle or misinformed) that life elsewhere might be more relaxed, more enjoyable, more vibrant - just more - it does not bode well.[/i]

http://forums.hardwarezone.com.sg/eat-d ... 71194.html

It is a sad state of affair when a single person, from the familee, can have such enormous influence on the destiny of a nation. Like his father, the present prime minister has been very effective in killing his competition. Headed the most cunning govt in the world. Has little interest in the POV of his citizens. A master in instilling fear and doubt on its citizens regarding the ability of the opposition parties (or maybe Singaporeans are easily intimidated due to a unique brand of brain-washing "learned helplessness"). These, I mostly paraphrase from a closed FB group for Singaporeans in USA. Oh boy, wow, did not know there exist such a huge dissent from these overseas Singaporeans. Or maybe just that group. I generally have little interest in politics but it is interesting to read their thoughts. It ignited a fire in me .

Anyway, many have settled quite nicely into the American fabric. And quite a number of them have have carved out a successful career and life here. They appreciate that the country is humanely run with plenty of room to explore and breathe! Won't be surprise when words get back to SG. One way to stem this outflow is to stem the flow of information and create something like north Korea. T'is , my kindly suggestion to the ruling party who are scratching their head on how to keep the Singaporeans within its shore. Free advice from me. No charge .

Ok, back to these Singaporeans in USA. I suspect many do end up within the Asian enclaves but there are many of them living in small town America with little Asian presence. And they are thriving and loving it . Because me love ultra cities. People indulging in lifestyles not easily accessible back in SG, guns, hunting, building shipyard, music, arts, extended road trips with young kids to explore their new found home. Plenty of US-SG intermarriages. Quite a few couples are Asian male+white female and gay couples.

Hard to turn back the clock after you have taken the red pill (Matrix - another reference from that SG FB). The overseas Singaporean unit was set up to entice them home. I doubt it experiences much success. Money down the drain. That unit actually reports directly to the Prime Minister's office. Ironically, it was his draconian style, if he has been more inclusive of them in the first place, then they won't be so disenchanted and opt to leave. And now got to spend so much $$$$$ to lure them back. He created his own demise. The govt is going all out to woo hi-tech workers/ engineers from USA (to return home and assist in the implementation of Smart Nation) as they have been deemed the flavor of the month by the Great Leader. But once you outlive your usefulness, then what? Anyway, a Smart Nation needs to be headed by Smart Leaders, not the fear-mongering and can't-adapt-to-new-reality type.

[x9200]

Haven't you noticed many restaurants have started to close by 10pm, 9:30 is usually last order.
Many malls in orchard etc have declining audiences. I don't see the crowds I used to see in many of the usual hangouts. Chijmes, CQ, bq. Have you seen bq on a Sunday night? I understand nobody wants to drink on a Sunday night but this wasn't the case many moons ago.

Nope, I don't see any of those, perhaps because I am not a frequent visitor of restaurants and such recently, but frankly, I would be surprised if your observations (or reasoning) are correct. Think about it in the population numbers, how many people would need to disappear to see such impact. CQ, Chijmes etc. don't have their crowd made of FT alone. There are tourists and there are locals too and how many of the FT frequenting the place could have moved out of the country? More than 30%? I doubt. And with 30% I don't think you would notice the difference unless you are talking only about places that cater for FT.

[rajagainstthemachine]

Haven't you noticed many restaurants have started to close by 10pm, 9:30 is usually last order.
Many malls in orchard etc have declining audiences. I don't see the crowds I used to see in many of the usual hangouts. Chijmes, CQ, bq. Have you seen bq on a Sunday night? I understand nobody wants to drink on a Sunday night but this wasn't the case many moons ago.

Nope, I don't see any of those, perhaps because I am not a frequent visitor of restaurants and such recently, but frankly, I would be surprised if your observations (or reasoning) are correct. Think about it in the population numbers, how many people would need to disappear to see such impact. CQ, Chijmes etc. don't have their crowd made of FT alone. There are tourists and there are locals too and how many of the FT frequenting the place could have moved out of the country? More than 30%? I doubt. And with 30% I don't think you would notice the difference unless you are talking only about places that cater for FT.

we decided to go to BQ on a Sunday at 8:30 pm for some food. the street behind it houses several eating places normally catering for all audiences. you would normally think such places would be open at this time of the day, but a large majority of them were shut.
Several places in Orchard same.. I can more or less places where I've been frequently going to and I don't see the same crowds anymore. Maybe they all flocked off to another part of Singapore where I don't go.

[Wd40]

Here are the official numbers:
http://www.mom.gov.sg/documents-and-pub ... ce-numbers

As of end 2015, if you notice, the number of EP holders hasn't increased a lot from 2011, just a paltry 13k odd. These are the people who are the potential tenants for the HDBs and condos.

The S Pass holders have increased much more, these people mostly rent rooms.

This kind of explains why rents are falling so much. With new supply coming online and demand falling, rents are bound to fall.

This year too I dont see the trend changing. If anything we might have a fall in the number of EP holders this year.

[x9200]

Thanks WD40.
So you can see Raj, nothing in the statistics supports your feeling. Perhaps there is simply some decline in the No of the tourists?

[rajagainstthemachine]

possible or people are not frequenting establishments that much anymore.