Whereas one company executive might have left in the past, now "they're all going," she said. Now Pei said she's noticing a lot of these people are not coming back. Usually ppl wont post embedded links when copy pasting. According to the European Chamber of Commerce, nearly 50 per cent of European companies are planning to move out. "Booking pace from Hong Kong has dipped slightly in February and March but remained higher than previous months," said Giselle Makarachvili, the company's chief executive officer. In the past year, Singapore has clamped down on issuing work permits to skilled foreign talents. This means benefits such as financial and logistical support. But deeply entrenched locals are leaving too, she said. Some 80% of Hmlet Homes' customers from Hong Kong are families with young children, the CEO added. Though her oldest son is completing his master's degree in Hong Kong, she said she and her husband likely won't return, even to maintain their permanent residency status. Singapore was also the most popular global destination for outbound flights, second only to Shanghai. Non-resident employment income is taxed at a flat rate of 15% or according to the prevailing progressive resident tax rate, whichever is higher. In Hong Kong, people arriving need to quarantine for at least seven days in a hotel and take multiple Covid tests, vaccinated visitors will no longer need to take any Covid tests, speech by Chief Executive Carrie Lam in late March, imposed strict measures from January in a bid to slow the spread of the virus. Forum members and moderators are responsible for their own posts. Some hold British National Overseas passports , a document available to those born before Hong Kong reverted to China in 1997; others do not. The next consideration is the size of the home. Singapore is home to thousands of expats from around the world. 64,900 BNOs applied for the visa. In the past, maybe I could have entertained staying long enough to be a Hong Kong PR, but for now, I think with the current situation, it's unlikely that I will do so. All foreigners who intend to work in Singapore must obtain a valid work visa, which companies are obligated to screen for before formally inviting employees on board. Others have moved to the United Kingdom and Canada, said Kutt. Highlighting unique property views for every Singaporean, Know the value of your property in seconds, 11 Lorong 3 Toa Payoh, Jackson Square Proptech Innovation Centre Block B, #04-17, Singapore 319579, Talk to us today. SINGAPORE After eight years in Hong Kong, Jonathan Benarr is giving up that city for a new set of attractions in Singapore. ", "Well, fast forward [two years], Singapore is a shining light," he said. A Bloomberg report in April shared another reason why foreigners intending to move from Hong Kong to Singapore had to do a U-turn (or look elsewhere). Air traffic from Hong Kong to Singapore was building even before the latest Covid surge, which saw new infections rise to a record of more than 56,000 on Thursday. "Sales have picked up as more Hong Kong businesses move to Singapore. Malaysia . If you've visited Hong Kong and experienced a culture shock of how seemingly unfriendly the locals are, you're not alone. Before Covid, "absent shippers" were rare, she said, but due to the number of requests, Silk Relo created a service whereby an on-site team member acts on behalf of a client who can't be present for a move. Singaporeans based in Hong Kong have made extended trips back home in recent months, citing the relative freedom that people in the Southeast Asian city now enjoy compared with Hong Kong. Hong Kongers snap up property in Penang, Singapore amidst unrest. That figure rose further in March, jumping more than 110% from February, official data shows. You can also WhatsApp us at 9755 1009! Hong Kong Protests Won't Spread to Singapore Argument An expert's point of view on a current event. Hong Kong's population fell by 1.6 per cent, or 121,500 in the year to June 2022, according to government data. Some arrivals from Hong Kong are making bookings for as short as two weeks, while others are intending to stay for 12 months, according to data from Hmlet and Far East Hospitality. including young adults moving out of their parents' homes and people looking for interim housing because of construction delays. 199. 1.Hong Kong residents moving to Singapore, snapping up rental homes Author: www.cnbc.com Date: 11 days ago Rate: 3(515 reviews) Rate One Singaporean, who works in finance in Hong Kong and declined to be named, said it was a good opportunity to visit loved ones, especially when the Covid situation in the Chinese city worsened earlier this year. The most recent ruling by Singapores Ministry of Manpower on February 18 2022 also requires Employment Pass applicants to secure roles that pay a minimum of $5,000, or $5,500 if they work in financial services. Employees are also allowed to remove their masks when not interacting with one another or with customers. However, that methodology is based only on applications for. 12 Are hongkongers moving to UK? "The main thing was the restrictions," said a Singaporean who works in the banking industry, who requested anonymity as he did not have permission to speak to the media. Under Britain's BNO visa program, people fleeing from oppression in Hong Kong are trying to make the most of their new lives in the UK. You may also refer to the latest Announcement on Updates to Border Measures amid COVID-19 Outbreak under our Overview page for the latest changes to the travel requirements. These restrictions have prompted some of these firms to look farther, such as Dubai, London or Sydney, as possible relocation destinations beyond Singapore. In March 2022, Financial Times reported that some international schools in Singapore received more inquiries from Hong Kong residents than usual but were unable to meet the unprecedented demand. Australian Krystle Edwards said she's lived in Hong Kong for 12 years and wants to stay, but she and her husband are going to decide whether to leave by September. Hong Kong is witnessing an intensifying exodus of locals and expatriates, one that started in 2019 amid pro-democracy protests that sometimes involved violence. As an icing on the cake, expatriates who relocate with us receive free cleaning and home contents insurance so that you can collapse into your bed immediately after your long journey. Both cities are also recognised as two of the four Asian Tigers. This is the first time in eleven years that the annual growth of the rental index reach a double-digit percentage, said Nicholas Mak, Head of Research and Consultancy from ERA Realty. Far East Hospitality has received a mix of bookings from both travelers and businesses looking for interim accommodation for their employees, according to Tan Chia Hui, head of operations for hotels and serviced residences. This article will cover everything expatriates need to know, from securing a work visa to school registration, among other things to expect, so that they can transition smoothly into life in Singapore. Hong Kong lost 93,000 residents in 2020, followed by another 23,000 in 2021. Yet that is roughly the same number of people who departed Hong Kong during the first two weeks of March alone, according to the city's Immigration Department. Singapore is seldom the first choice for Hong Kongers seeking migration. Well also send you relevant content that you can use for your own research, so you no longer have to spend hours searching online for the information that you need. head of operations for hotels and serviced residences, Far East Hospitality, Why real estate investors are flocking to Singapore. Changi Airport received 7,931. To be clear, interest from Hong Kong is not the only reason for rising rents. To be sure, Hong Kong residents arent coming to Singapore to sight-see. Hong Kongers who are considering a move to Singapore will find themselves in good company. Like Hong Kong, Singapore has been known as an international business hub and a bridge between the East and the West. We want to hear from you. Hong Kong vs. Singapore travel rules In Hong Kong, people arriving need to quarantine for at least seven days in a hotel and take multiple Covid tests. Singapore has a Chinese majority population, many HongKonger had migrated and settled down in Singapore since 1997. One such move was the increase of the minimum monthly salary threshold for Employment Pass (EP) and S-Pass applicants from September this year. Hong Kongers who are considering a move to Singapore will find themselves in good company. It has been reported that most Hong Kong Americans were born in either Hong Kong, the US, or Guangdong, China. The Hong Kong government estimates that last year about 7,600 people left the city for good, roughly one-third the number who sought police-record printouts. A report based on a telephone survey of 507 Hong Kong residences by the Asia Pacific Foundation of Canada was provocatively titled "Hong Kong: Canada's Largest City in Asia.". Simply tell us about your specific housing needs and we will MATCH you with the right home! Singapore-based co-living start-up Hmlet said there was an "exponential" increase in bookings in January 2022, "which we attribute to demand from Hong Kongers anticipating the imminent tightening of public health protocols.". Hong Kong-born Kam Lun Yeung said his family is moving to Sydney, where he lived as a child. Well guide you through everything from lease signing, deposit payment coordination and legal stamping of documents. "Heaps are in Thailand they just packed up and went to Phuket or [Koh] Samui. Tesla itself has easily 5x also. Authorities in Malaysia, Australia. They need to have a job here to get an Employment Pass, S-pass or work permit, shared Mak. Fake account to boost visits to website? Many people and companies are moving to Singapore, though some expatriates are returning home and Hong Kongers are applying for residency under new visa programs launched in Canada and the United Kingdom. Kutt said this is "absolutely" happening, as evidenced by the number of moves occurring without clients present. This means parents caught in between having their child drop out of school midway have to find a willing debenture buyer in the secondary market (usually through a brokerage agency). Sign up for free newsletters and get more CNBC delivered to your inbox. "Anecdotally, we know that perhaps there are some of those based in Hong Kong looking to relocate to Singapore, and this is contributing to the increase in rents," said Leonard Tay, head of research at real estate agency Knight Frank Singapore. Charlotte Parsons and . Let's look at Singapore. Mar 28, 2022. "In the last couple of years people have thought about leaving, but in the last six months there's been an absolute mass exodus," said Pei C., who has lived in Hong Kong for 17 years. All education providers in Singapore are required to register as a Private Education Institution so that they align sufficiently with a mainstream syllabus either in Singapore or abroad. 2022 CNBC LLC. If Hong Kongers move to Singapore, their main concern is how and whether they have a job here and whether they can get PR status in Singapore. Some of the clients Sun talked about are looking at the luxury home segment or prime location. Singapore has a population of 5.64 million people living on 719 km of land, while Hong Kong has a population of 7.45 million people living on 1,106 km of land. And BTOs will adjust selling prices. The corporate bookings are typically for a period of one to three months, and for bigger units with between two and four bedrooms, she added. It shared one example of a European bank with plans to designate its Marina Bay financial district office as the backup centre for Hong Kong (so it could relocate staff to Singapore). . Dive Deeper: Condo Renting 101: Where to Look, Sizes and Cost. For most Hong Kongers, Chinese nationalism is more important than human rights or democracy. Some expatriates in Hong Kong moving to S'pore as Covid-19 situation in territory worsens The teenage asylum-seeker Hei Yin Ngan, 19, travelled to the UK in June 2021 and is seeking asylum.. Get this delivered to your inbox, and more info about our products and services. Another Singaporean, who wanted to be known only as Leung, said he bought a one-way ticket to Singapore when Hong Kong announced in February that it planned to test its entire population for Covid three times. The very top all live on HK island around the Peak, Mid-Levels, Repulse Bay and around the American International School. It's expected that between 123,000 and 153,000 Hong Kongers will arrive in Britain this year. "", was what a complete stranger said to me brusquely on my first trip to Hong Kong. Two-fifths had under HK$25,000. Its a tough call, especially if theyve prepaid a high debenture. "In the past, maybe I could have entertained staying long enough to be a Hong Kong [permanent resident], but for now, I think with the current situation, it's unlikely that I will do so," he said. It is entirely possible that some Hong Kongers rent-first-settle-down-later approach could have contributed to our month-to-month increase in our rental market. Authorities also recently lifted the 10.30 p.m. cut-off for alcohol sales, and allowed bars and karaoke lounges to reopen again. In March last year . So private property price on the set to rise again? The Hong Kong government estimates that last year about 7,600 people left the city for good, roughly one-third the number who sought police-record printouts. This increased by 40.7 per cent to 38 homes in 2021. Due to the riots in Hong Kong many . My wife gets to know his mother well during their stay in Sg. Rents for their houses and apartments may now average US$20,000/month. She cited L'Oreal, Moet Hennessy and VF Corporation the latter which owns brands such as Timberland and North Face as examples, while noting there are more who haven't made their decisions public yet. Thousands of others, locals or expats, are relocating to safer locations in the region. While Singapore is a vibrant city that holds much promise, starting a new life overseas is never easy. Current Situation: Recently the US has announced they will be seperating Hong Kong from the mainland China in the immigration process. They will want a home much larger than their Hong Kong home, Lee said. They all got villas, some have even put their kids in school there, and they said they'll come back to Hong Kong in August or September.". All trending upwards. The cooling measures announced in December 2021 require that foreigners pay 30 per cent Additional Buyers Stamp Duty (ABSD) for any property purchase (including their first). But this year, they say they've had enough. There is a mixture of clients those moving over with their families and others who are single, business executives. Work pass documentation and processing is largely handled by employers in Singapore, so Hong Kongers are highly advised to secure a job locally before booking a flight down. For a Hong Konger seeking greener pastures offshore, Singapore is probably one of the first countries that come to mind. Ranging between US$10k (S$14,000)to US$10m (for top international schools) per child, a parent who decides to relocate their child out of the school to another school (eg. CNBC also reported a major uptick of Hong Kong applicants at co-living spaces in Singapore, with an overwhelming majority of them comprising of Hong Kong families with children. A total of 2.9 million people registered and so can apply for the. Now Hong Kong's ever-chipper lifestyle websites, once dominated by articles about the city's best dim sum and foot massages parlors, are focusing on moving to-do lists and farewell gift guides. In view of the COVID-19 pandemic, please refer to Hong Kong SAR official COVID-19 website for the relevant boarding, quarantine, and testing arrangements before departing from Singapore to Hong Kong. According to the Programme for International Student Assessment conducted by the Organisation for Economic Cooperation and Development, Singapore students consistently outperform their international peers in the skills of reading, maths, and science. Then they lasted through nearly two years of pandemic. They are keen to rent or buy homes as they plan to work in Singapore in the mid to long term. Thats why Ohmyhome offers a full suite of home relocation services to take away a significant burden from expatriates such as yourself, so that you can fully focus on physically moving to your new home. "Those were the ones that I would say rocked me to the core," said Kutt, who has lived in Hong Kong for more than 30 years. We visited HK and my son bought a gift for this friend. By Phil Rosen January 14, 2021 In 1949, over one million people left Shanghai in fear of China's new government led by Mao Zedong and the Chinese Communist Party. It's great that Hong Kong's rules are going to be less extreme, but there's still a long way to go, said Leung. #41. "What was once a progressive city, just feels like it's no longer interested in being part of the international conversation," he said. A surge in departures is accelerating a "brain drain" of professional talent a situation which hit fever pitch around March, as omicron-driven Covid cases skyrocketed across the city. 18,433 views Nov 13, 2021 619 Dislike Share Ms Karman K 10.8K subscribers Singapore is a great country to live in but there were a few things that would've made my life a little easier, had I. "Singapore is seldom the first choice for Hong Kongers seeking migration. Owing to political turmoil and strict pandemic measures over the past few years, international businesses are shutting down offices in Hong Kong and shifting operations offshore. To be clear, interest from Hong Kong is just one piece of the puzzle. While the enquiries and interest have increased, it does not necessarily mean that the residents plan to migrate to Singapore would succeed or have materialised. From July through mid-August, when street protests turned. The Briton is currently packing up his apartment in Hong Kong and moving to Singapore permanently. Dont put off your relocation plans any longer. "We do consider [Hong Kong] home, and it is difficult leaving especially considering how much we have invested emotionally in the city," he said. I think most of them would be looking at the same factors as other foreign buyers such as political stability, safe country, business friendliness, and their ability to adapt to our culture and language, she added. Kay Kutt, CEO of the Hong-Kong based relocation company Silk Relo, agreed, saying people are attracted to the ease of business, family friendliness, tax incentives and open borders of Singapore. However, masks are still required at nightlife venues such as bars and clubs when capacity exceeds 75%. This indicates that while guests may relocate for work, they are looking to bring their families along as well. But that's "not something to celebrate," said Leung, who works in a financial institution and returned to Hong Kong in April. One year after Britain opened its door to Hong Kongers, those who have arrived are still coming to terms with the contours of their new lives.Read more: tri. Singapore is the obvious alternative, but moving there isn't as easy as it seems BY Simon Willis February 21, 2022, 8:08 PM PST VF Corporation went. The resulting hard line in Hong Kong has created a mass exodus, with more than 100,000 Hong Kongers leaving in the last three years thousands of whom came to Canada. At the time, Bloomberg reported a surge from anxious expatriates sizing up schooling options beyond the former British colony to send their children to. We have a team of professionals that are familiar with the Hong Kong market and well-equipped to handle any concerns that Hong Kongers have with regard to their relocation needs. Singapore-based international schools like Tanglin Trust School and EtonHouse International School were reported to have received an increase in inquiries from parents in Hong Kong. China concerned about keeping Hong Kong as offshore financial center: Professor. Stifled by strict Covid restrictions in Hong Kong, residents from the financial hub are continuing to move to its rival, Singapore. Is so, HDB resale price trend will also follow too. It has since . 15 Is it expensive to stay in Hong Kong? "This indicates that while guests may relocate for work, they are looking to bring their families along as well," she said. However, she shared that some may have bought homes and the caveats logged under China or foreign (unspecified). March 2022 saw 137 scheduled flights from Hong Kong to Singapore, the highest number recorded since March 2020. The report cited Singapore-based Tanglin Trust School, a non-profit with 2,800 students and annual fees of up to S$46,965, receiving as many applications in January and February 2022 compared to the whole of last year. Singapore, however, has gradually. She and her family moved to the Netherlands, where her husband is from. Other companies are staying in Hong Kong, but downsizing their offices, and moving regional headquarters to Singapore, said Ang. He has done his sums, seen a migration consultant, set aside HK$500,000 (S$88,315) to move. Locals are making plans for an exodus as protests show little sign of ending. Yet, the majority of Hong Kongers in 1997 still supported placing Hong Kong under the rule of Beijing. One commercial tenant representative for a large property company, speaking anonymously, said companies were making a subtle shift to Singapore, opening subsidiary offices. (Ethnic Chinese comprise over 90% of Hong Kong's 7.4m population and over 70% of Singapore's 5.6m. In the first three quarters of 2021, 88,800 Hong Kongers applied for British National (Overseas) visas. The office of Hong Kong Chief Executive Carrie Lam did not immediately respond to a request for comment, but Lam said on April 26 that the government's Covid rules balance health and economic interests with public tolerance levels. Got a confidential news tip? However, there was a jump in the number of Hong Kongers buying properties in the past year. They will probably have to sell their home in Hong Kong to finance their purchase here. Pei estimates that 60-70% of her friends have left in the past six to 12 months, which includes people with businesses and family in Hong Kong as well as those who were once deeply committed to staying. The only winner is the gahment. all these foreigners/PR will need to pay ABSD when they buy properties in Singapore. SYDNEY, Nov 1 (Reuters) - Australia will introduce two permanent residence visas for Hong Kong citizens who have been living in Australia, the government said on Monday. Try to secure work before moving to Singapore, the government enforce strict rules on local to expat ratios and if a local can do the work, the local will secure the job. About 9,000 Hong Kong. KUALA LUMPUR: From luxury Singapore apartments to Malaysian seafront condos, Hong Kong investors are shifting cash into Southeast Asian property, demoralised by increasingly violent protests as well as the China-US trade war. You have to collate all your identity, financial and medical documents and allow time for visa processing and flight booking. Sure good thing for all friends and comrades here. Silk Relo and Asian Tigers are also seeing an "uptick" in moves from Hong Kong to Japan, South Korea and Thailand, said Kutt. Although masks are still required for indoor activities, wearing a mask is now optional at well-ventilated outdoor venues such as bus stops and open-air corridors. Eatology started offering Hong Kongers science-backed meal plans in 2015, seeing the need for a more practical and sustainable diet that works well with customers' lifestyles. According to a recent Bloomberg report, nearly 50% of European companies in Hong Kong plan to move all or half of their workforces out of the city. Tom Grimmer, "Rivalry Between Singapore and Hong Kong is Heating Up," Financial Post, June 28, 1995. In fact, according to Ohmyhome research, the number of Hong Kong arrivals to Singapore has been increasing exponentially since October 2021, doubling month-on-month between January and March 2022. When things stabilised in HK, they moved back. Singapore and Canada. Companies are eyeing Hong Kong's exits. In 2020, there were 27 homes bought by Hong Kongers. Others may be looking at city-fringe homes that are near the CBD. While Hong Kong has recently eased its Covid-19. Those with a lot to lose, because of their economic standing, army or political background were eager to leave. Hong Kong citizens purchased just 12 apartments in Singapore in the first half of 2019, down from 32 in the first six months of 2018. "We're seeing companies choosing Tokyo," she said, which she indicated was surprising given that Tokyo has historically been a place for companies solely looking to access the Japanese market. Similarly, the Canadian International School, which has 3,200 students across two campuses in Lakeside and Tanjong Katong (and charges fees of up to S$41,700 a year) received seven times more inquiries in 2022 than in the previous six months. The trigger, she said one echoed by numerous people who spoke to CNBC for this story was the highly-publicized policy that separated Covid-positive children from their parents earlier this year. 2022 CNBC LLC. Searching for a job overseas is hard enough. Singapore is also an excellent location for expatriate professionals thanks to its liberal tax regulations. Many expatriates went home for a few months this year. You must log in or register to reply here. For the past 60 years, Hong Kong's population has grown nearly every year, from some 3.2 million people in 1961 to 7.5 million in 2019, according to Hong Kong's Census and Statistics Department. LIfe in Singapore has largely returned to pre-pandemic norms. With the worlds freest economy at 84.4 points (according to the 2022 Index of Economic Freedom), the Lion Citys thriving economy is led by manufacturing, wholesale trade, finance and other sectors, all of which are undergoing rapid digital transformation. The 53-year-old Hong Konger loves his homeland, but a mixture of its changing politics and a sense of adventure has led him to seek out a new life for his family in Belfast. Lockdown and quarantine policies coupled with a merry-go-round of school closures caused many expatriates to return home to the United States, United Kingdom, Australia and other countries for good, said Kutt. more than 100,000 applying to move as of March. . For many decades before the handover of Hong Kong in 1997, the Hong Kongers had been aware of the atrocities committed by the mainland Chinese. A Division of NBCUniversal. In Singapore, limits on social gatherings have been scrapped and social distancing is no longer required. Expect the HR staff to coordinate with you for these: Whether youre moving by yourself or relocating with your entire family, theimmigration processis quite seamless once you have these requirements ready. It is a much safer and stable place for them. "Everyone's going to Singapore," said Pei, especially those working in finance, law and recruitment, she said. On April 26 2022, the Singapore government announced that safe distancing would no longer be required for group activities. Millions have taken to the streets during four months . The new visa scheme could bring over 300,000 Hong Kongers and their dependents to Britain in the next five years. Lisa Terauchi grew up in Hong Kong, but left just shy of her 45th birthday, after her husband lost his job as a captain with Cathay Dragon, a Hong Kong-based airline that shuttered operations in late 2020. In total, some 5.4 million Hong Kongers could ultimately be eligible. Many dont believe Singapore aiming more than 6.9M population. With covid changing people's expectations of work and financial stability, most people in Hong Kong and . Under the terms of Hong Kong's return to China in 1997, Beijing promised to preserve the city's way of life, including civil liberties and political freedoms not available in mainland China . He said that at that point, he felt "the government [had] totally lost it, I have to get out of here.". According to Sun, there has not been a significant increase in buyers from Hong Kong over the past few months. It is a clean and safe place to live and explore. It gets even harder if youre a parent looking for a school that best fits your child. Through data-driven and customer-centric methods, our Super Agents have helped expatriates identify homes and seal the deal at affordable prices within just three to four weeks. Youre logging out from your Ohmyhome account. Complementarity Assessment Framework (COMPASS) points system. "Singapore was where you went if you were a bit boring or you had a family. In Hong Kong, people arriving need to quarantine for at least seven days in a hotel and take multiple Covid tests. The 34-year-old Hongkonger is set on emigrating to Singapore with his wife and two young daughters. Hong Kong began allowing groups of four to gather at any one time, and restaurant operating hours were extended to 10 p.m. visa programs granting eligible Hong Kong residents the right to reside within their jurisdictions. Data is a real-time snapshot *Data is delayed at least 15 minutes. However, "the 2019 protests to the currentpandemic situation and seeing friends leaving already made our decision a little bit easier.". The earliest inhabitants of Hong Kong are indigenous villagers, who have lived in the area since before British colonization. 137 scheduled flights from Hong Kong to Singapore. "I mean, is it even worth it anymore?" But early estimates show this year will see far more people go. Its no secret that job opportunities abound in Singapore. But early estimates show this year will see far more people go. Terauchi said she has friends who are leaving, some who have lived there longer than she did. As for documentation requirements, all international students must obtain an official Students Pass to be eligible for registration at local institutions. With Singapore loosening Covid-19 and border restrictions, the rival financial hub was reported by South China Morning Post to be a top choice for expats and Hong Kongers leaving Hong Kong. "[Hong Kong] just feels backwards," said Benarr, who is group director of real estate at hospitality company The Mandala Group. Director of marketing and communications at Singapores Tanglin Trust School has said that the number of Hong Kong applicants within the first two months of 2022 has already exceeded all of 2021, showing that Hong Kong families are actively looking to settle down in a new environment. Rental prices in Singapore were already moving higher during the pandemic due to demand from various sources, including young adults moving out of their parents' homes and people looking for interim housing because of construction delays. The scheme is open to Hong Kong residents who claimed British National (Overseas), or BNO, status before the handover in 1997. Our Super Agents are always available to provide virtual or in-person tours and will walk you through the unit while answering all your questions. . Two years later, with Covid-19 restrictions like the zero-Covid-19 policy (and lengthy school shutdowns) frustrating many local and foreign Hong Kong residents, the enquiries seem to have increased. Our smart-data matching technology will filter our available listings based on your preferences from location and property type, to the number of rooms and budget and well WhatsApp them to you once we find a match. In the past year, however, there has been an increase in Hong Kongers moving here for a short period to avoid Covidrestrictions in their country. Dont forget these stocks have up more than 50% since pandemic. Singapore's rising property prices driven by supply constraints: PropertyGuru, during the first two weeks of March alone, separated Covid-positive children from their parents, Hong Kong residents are flocking to Singapore, snapping up rental homes, 'Hong Kong is not going to be under the rule of law': Over 100,000 apply for new visa to Britain. This is to "enable the city to continue addressing the social and development needs of Hong Kong and the individual circumstances of our people," she said. The top choice is Hong Kong's democratic neighbor . In Hong Kong, parents have to pay debentures, a form of advance loan to secure priority admission into international schools. The median monthly household income for Hong Kongers was under HK$29,000 (now about US$3,700) in 2019. Many people and companies are moving to Singapore,. A net 71,000 people left Hong Kong in February, and there are more flights to Singapore than anywhere else aside from Shanghai. Singapore's population and geographic area in comparison to Hong Kong's are 75% and 65% respectively. "Based on our observation, most bookings from Hong Kong are for permanent relocation to Singapore," Hmlet's CEO said. Singapore was also the most popular global destination for outbound flights, second only to Shanghai. Around 70% of bookings from Hong Kong at Hmlet Homes were for three-month stays, the minimum required. Saw this online lol seems interesting that they're moving to SG and settling down here Wonder what this will do to the property market here since prises keep going up and up. Although students are allowed to apply to be exempt from studying an official Mother Tongue Language (usually Chinese, Malay, or Tamil), students are strongly encouraged to learn a second language as part of Singapores bilingual curriculum. During the pandemic, both countries launched visa programs granting eligible Hong Kong residents the right to reside within their jurisdictions. Most of them tend to rent a place for a short while, said Lee Sze Teck, Senior Director (Research) from Huttons Asia. "A lot of parents, understandably, freaked out, so they booked themselves on the first flights out," she said. JustCo said it hasn't observed a substantial increase, but that international financial institutions in Hong Kong are seeking flexible workspaces in Singapore. In the past year, however, there has been an increase in Hong Kongers moving here for a short period to avoid COVID restrictions in their country. Inquiries from Hong Kong jumped 25% from December 2021 to January 2022, Hmlet said. It may not display this or other websites correctly. "I am seeing, with regret, a flight from Hong Kong to Singapore, which guarantees more rights for finance and business," says Petricca. Some people are riding out Hong Kong's tight Covid restrictions by taking extended vacations, said Edwards. For example, EP applicants minimum salary threshold will go up from S$4,500 to S$5,000 (S$5,500 for the financial sector). Singapore's plans to move away from a "Zero Covid" strategy -- which is crucial for Hong Kong's desired bubble with mainland China -- also influenced the decision, according to the Straits. When youre ready, you can book an appointment with us. No matter how we can debate, I always ask myself a few logic: This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Their exposure to multicultural environments from a young age also means that Singaporeans students are better able to embrace and include students from other countries and regions. So its highly possible that many Hong Kong residents while inquiring about or renting in Singapore are waiting for the right time or circumstance, before making these life-changing decisions for their families and themselves. This will allow people who are entering Singapore to avoid testing fees and pre-departure tests, which have been an administrative burden on travelling individuals in recent times. Chinese in Malaysia is definitely more Chinese than Chinese Singaporean, and partly due to the unfair treatment that they are facing as a minority racial group in Malaysia. We dont call them Super Agents for nothing. "I've not physically seen anyone who's that excited about moving to Saudi Arabia yet " but places in the Middle East, including the United Arab Emirates, are "trying to mirror what Dubai has done over the last couple of years.". Edelyn Chua. "We couldn't be too harsh with our people and the people's tolerance has always been one of the factors that we need to consider in devising the best public health measure for Hong Kong.". "Saudi Arabia is trying to fight for a slice of the pie" too, said Ang. Our agents are amongst the top 1% of over 30,000 CEA-certified agents in Singapore, with more than 10 of them ranking within the top 30. "A lot of families that I know have gone away for like three or four months," said Edwards. Source: Ohmyhome Research, STB Hongkongers (Chinese: ), also known as Hong Kongers, Hong Kongese, Hongkongese, Hong Kong citizens and Hong Kong people, typically refers to residents of the territory of Hong Kong; although may also refer to others who were born and/or raised in the territory.. This marks the third consecutive year of decline and the biggest drop in the last six decades. Ohmyhome was founded by sisters Rhonda and Race Wong; the latter was also part of 2R, a former cantopop duo in Hong Kong. The 34-year-old Hongkonger is set on emigrating to Singapore with his wife and two young daughters. With such qualified agents, you wont have to worry about negotiating tenancy terms or drafting a legally tight rental offer in your Letter of Intent. The Hong Kong government did not have data, but the Security Bureau estimated 7,000 people may have emigrated in 2019, 1,300 to Canada. "The first and foremost consideration is getting a loan to buy a home in Singapore.. Singapore so safe and good who dont want come? "I noticed, especially I think it was March, the number of calls [from] long-standing old Hong Kong families they have high net worth, might have multiple homes, they're choosing to pack up and go," said Kutt. Dive Deeper: Simple Relocation Checklist for Foreign Talents Moving to Singapore. The encounter with HK ppl by me and my friend are that they are very superficial. Hong Kong "was no longer the country I had grown up in, it was no longer the country I remembered," she said. Hong Kong homeowners may sell as much as HK$150 billion ($19.3 billion) worth of property this year when residents emigrate to the U.K. She said that is especially true for American and European employers that already have a presence there. In 2018, Hong Kong's GDP was US$362.99 billion, and Singapore was US$364.1 billion. This group almost never get to learn or to speak Chinese. And though they are looking forward to more freedom of . Hardly anyone has time to handle all the documentation and queries involved in home hunting between all of that. All Rights Reserved. "Hong Kong was always the fun place to be," he told CNBC. Because at Ohmyhome, were always on your side, always by your side. Of course, while most Hong Kong residents are renting, making inquiries, researching and deciding whether to invest in property long-term here to settle down, there are two other major factors that may delay or reverse their plans completely. Co-working firm WeWork said its Singapore locations saw a nearly 13% jump in sales and inquiries from Hong Kong-based companies in the fourth quarter of 2021 compared to the third quarter. HONG KONG (Bloomberg): Frustrated and anxious about the government's handling of Covid-19, some Hong Kongers are looking to flee, even if it's just to wait out the worst of the outbreak. For a better experience, please enable JavaScript in your browser before proceeding. "Interestingly, we also noted a group of members whose original travel intent was for business but eventually converted to permanent stays," Makarachvili added. Got a confidential news tip? Bloomberg News, Bloomberg News. Get this delivered to your inbox, and more info about our products and services. A Division of NBCUniversal. There are signs that rental demand has grown further. The government refusal to expand public housing and let the property dictate by rich property tycoon. A follow-up Bloomberg report cited that a net 71,000 people have left Hong Kong in February 2022 the biggest outflow since the pandemic began. Many fathers remained to work, she said, but many are now asking their employers for transfers to leave. Confirm la. In response to CNBC's request for comment, Hong Kong's Information Services Department pointed to a speech by Chief Executive Carrie Lam in late March, where she said Hong Kong needs to balance between virus risks and Covid measures. On the subject of people leaving Hong Kong, Lam said it's their "individual freedom to enter and to exit.". Hong Kong itself is a fine example: under British rule, it enjoyed property rights and the rule of law, which made it a magnet for Chinese refugees fleeing the Communist regime, and for investment in finance and manufacturing that led to Hong Kong's GDP per capita rising by a factor of 63 between 1960 and 1997, when it was handed over to China. Three children under the age of 5 have died . They stuck it out during the political protests of 2019. Right before "the handover" to China in 1997, many Hong Kongers left for Singapore, my birthplace, fearful of an uncertain Communist future and lured by Singapore's immigration policy that gives preferences to ethnic Chinese. Some of those arrivals intend to settle down in Singapore and have turned to co-living spaces or serviced apartments, according to industry players. Hong Kongers who are considering a move to Singapore will find themselves in good company. Following China's move on June 30 to impose the security law on Hong Kong with no local government debate, many prominent activists have been arrested, charged or fled into exile in the U.K. and . August 14, 2021. Linda Yeung, "Singapore calling," South China Morning Post, June 25, 1995. Similarly, Leung said he is not in a rush to move back to Singapore, but is open to the idea. However, the movement of Hong Kongers has "not yet caused a discernible . Hong Kongers especially believe they are going to have to delay their retirement, with 48% claiming that their ideal retirement at the moment would be between ages 60-69, marking a significant increase from the 50-59 range of 2020. With the recent news that Hong Kong may allow in-person classrooms to resume in stages from mid-April, some parents may change their minds and return to Hong Kong instead. Three children under the age of 5 have died in Hong Kong's outbreak, a disproportionately large number that has local parents anxious, though pediatricians say it could just be a grim coincidence. There are two grades of expats in Hong Kong. Dubai is also absorbing talent from Hong Kong, said Kerry Consulting's Ang. French lender Societe Generale is temporarily moving about a dozen traders from Hong Kong to Singapore, Bloomberg reported last month. Singapore allows qualified Hong Kongers to wait five years before they must physically migrate, which may account for the low residency rate. Hong Kong lost some 93,000 residents in 2020, followed by another 23,000 in 2021. Before 2011, property prices were moving faster than income. Call us at 6886 9009 to secure an appointment with any of our Super Agents or message us in the chatbox at the bottom, right-hand corner of the screen. Rents for private homeclimbed 4.2% in the first quarter of this year, compared to a rise of 2.6% in the previous quarter,according to the Urban Redevelopment Authority. Serviced apartments provider, Ascott Ltd., which operates luxurious apartments at Ascott Orchard, Citadines Mount Sophia and Lyf One-North, was reported to have been fielding more enquiries, including from Hong Kong, since January. These would . This article was first published in 99.co. The remaining 30% of bookings were for longer-term stays of between six and 12 months. All Rights Reserved. But early estimates show this year will see far more people go. Enquiries by Hong Kongers at Immigration@SG LLP, an immigration consultancy in Singapore, rose by roughly a quarter in the past two months compared with earlier in the year, said a company. We want to hear from you. Stifled by strict Covid restrictions in Hong Kong, some residents from the Chinese financial hub have moved to Singapore, and there are signs that rental demand has gone up. Mid-level skilled staff and technicians can also apply to work in Singapore via the S Pass, which has a lower minimum salary requirement of $3,000 or $3,500 for financial service employees. Finally, Singapore is stepping down the use of its contact tracing app, TraceTogether. Serviced apartments managed by Far East Hospitality also saw a spike in inquiries and bookings around the end of February, though that has since slowed, the company told CNBC. Singapore, however, has gradually dropped quarantine requirements since September. Based on agents feedback, we received more enquiries from clients in Hong Kong. Many Hong Kongers now in their 30s to 50s left for the United States, Canada and Australia with their parents during that period, but they returned when China's economy took off and Hong Kong's . she said. "We get more calls from our clients who are sharing with us that they're going to move the entire Asia Pacific office into Singapore," she said. Released in . Children aged 12 years and under must also be vaccinated for measles and diphtheria, and obtain a Verification of Vaccination Requirement from the Health Promotion Board before they can apply for a Students Pass. The chart below displays the first choice of location among Hong Kong residents in our sample who stated that they had thought about moving. . Some people interviewed by the Japan Times cite inflation concerns, expensive housing, limited study options, and an overall lack of opportunity. They feared it would limit their opportunities. Hong Kong lost residents in 2020 and 2021, but this year is expected to far surpass both years in terms of the numbers of people leaving for good. Hong Kongers prefer moving to US, Singapore 07 December, 2022 Asian public most fearful about the risk of pandemics and infectious diseases in global survey in Leadership by Aditi Sharma Kalra Singapore's Latest News December 07, 2022 Asian public most fearful about the risk of pandemics and infectious diseases in global survey in Leadership Small companies are "taking the entire team and putting them into Singapore.". Private home rentsclimbed 4.2% in the first quarter of this year, compared to a rise of 2.6% in the previous quarter,according to the Urban Redevelopment Authority. Mak added that they are likely to wait until they get their Singapore PR status before buying a property in Singapore. The city tightened restrictions further in February, though they were eased slightly last Thursday. "There's not much evolution in how [Hong Kong] is handling it, and therefore it doesn't really give us much hope that there will be any form of reform or change in the government's strategy," he said. My son has a classmate who's family moved over to Sg after 1997. Even before Covid-19 was declared a pandemic in March 2020, Hong Kong was already in crisis with pro-democracy street protests, curfew rumours and disruptions to commuters due to the controversial extradition bill of 2019. (Bloomberg) -- Singapore is becoming a popular escape for Hong Kongers frustrated and anxious about the government's handling of Covid-19. "We don't have enough people to serve what's going on in the marketplace. Continue? Hong Kong lost 93,000 residents in 2020, followed by another 23,000 in 2021. Most if not all, will not be able to obtain a loan in Singapore. She asked to be identified with her last initial because of sensitivities surrounding the topic in Hong Kong. 14 What billionaires live in Hong Kong? The result is that 9 in 10 Singaporeans are at least conversational in two languages. There are over 230,000 Hong Kong Americans residing in America. Read by 200,000 Homies. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Hong Kong continues to safeguard "human rights and freedoms" but that "one has to observe the law in exercising freedom," she said. Co-living start-up Hmlet saw a 25% increase in bookings in January 2022 from December 2021, while serviced apartments managed by Far East Hospitality saw a spike in inquiries and bookings around the end of February. From 2015 to 2019, the city gained an average of 53,000 new residents per year. Unfortunately, some bankers and hedge fund managers are already having second thoughts. Some are Singaporeans shifting back to Singapore while others are expatriates who were working in Hong Kong and are being relocated here, said Christine Sun, Senior Vice President of Research and Analytics at OrangeTee & Tie. The programme pointed out that while 44.8 percent of Hong Kongers live in public housing, the percentage is much higher in Singapore -- 81 percent live in an HDB (Housing & Development Board) flat. He remained in Singapore for about a month, where he said there was "some degree of normalcy.". "You've just reopened the bars and the clubs, and people are being treated like adults.". Singapore Isn't The Next Hong Kong Claims of political contagion are establishment. The best/worst part is, they are very accustomed to the small space and high housing prices. The simple and short answer is: Money, you have to have a lot of money to emigrate to Taiwan or Singapore, it also takes time and a lot of efforts and paperworks. March 2022 saw 137 scheduled flights from Hong Kong to Singapore, the highest number recorded since March 2020. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Immigration from Hong Kong to Canada is "booming," according to the Canadian immigration website, CIC News. Hong Kong Residents Moving to the U.K. . You are using an out of date browser. Roslan Rahman/AFP/Getty Images With Singapore loosening COVID-19 and border restrictions, the. In 2020, there were 27 homes bought by Hong Kongers. The most vital role for your Singapore-based company is to assist you in securing a work pass from the MOM, which lets you take residence in Singapore for business or professional reasons. More over we beat Covid19 like a a hero and our leaders are all number 1. They are pretty self contained. March 2022 saw 137 scheduled flights from Hong Kong to Singapore, the highest number recorded since March 2020. Leung regularly crosses the border into Malaysia to visit family, which would not be possible if he were in Hong Kong. Large companies are also relocating to Singapore, said Cynthia Ang, an executive director at the recruitment firm Kerry Consulting. In its 40-year existence, the past three years have been the busiest years on record for Silk Relo's sister moving company, Asian Tigers, she said. The population of the city fell at. Singaporeans and PRs pay 0 per cent and 5 per cent ABSD respectively for their first Singapore-based property. The Singaporean who works in banking and remained in Singapore for a month said he doesn't plan to leave Hong Kong immediately, but Covid and political upheaval in the city have made him think about his long-term plans to stay. From Tuesday, vaccinated visitors will no longer need to take any Covid tests. Enter your best email below to join in. Why are Hong Kongers so rich? HONG KONG (Reuters) - Hong Kong residents are buying more houses and apartments to lease out for income in Britain, property agents say, a trend that coincides with what many expect to be a wave . As Singapore continues to push for its hire local policy, it will also be making it progressively stricter for foreign talent when it comes to having their visas or employment passes approved. Hong Kong has a dynamic zero strategy for Covid and imposed strict measures from January in a bid to slow the spread of the virus, which included a ban on dining in from 6 p.m. daily. Some Singaporeans were also motivated to return to visit their home country to see family and friends. According to my friend who is a Hongkonger, a friend of him has moved to Taiwan recently, and it cost him more than USD 200,000 (And it will be more Continue Reading Quora User Singapore) risks losing his or her debenture. Visitor arrivals from Hong Kong to Singapore nearly doubled from January to February this year, according to Singapore's tourism board. ", Families are transferring to Singapore, she said, but small- and medium-sized businesses are also on the move. In Cantonese, the phrase literally translates to, "don't obstruct the . "If something comes along, the numbers are right, it aligns with my career goals, why not right? Available daily 9 AM to 9 PM (GMT +8), Rental Prices Strengthened in 1Q22 | Ohmyhome Insights, Uncovering the Growth Potential in Farrer Park, 137 scheduled flights from Hong Kong to Singapore, safe distancing would no longer be required for group activities, Employees are also allowed to remove their masks, Covid-19 testing requirements have been removed, Simple Relocation Checklist for Foreign Talents Moving to Singapore, Immigration and Checkpoints Authority(ICA), The Property Podcast You Need to Listen to in Singapore Is Here: Welcome to Real Estate, Real Advice by Ohmyhome, How to Calculate Property Tax in 2022 with Annual Value and Property Tax Rate (UPDATED), 5 Sustainable Living Tips You Can Easily Start at Home, Health, travel, contents/property insurance papers, Visa papers/work passes and/or passes for family, Birth certificates/adoption papers of children (if any) and photocopies, Copies of credit card/bank card numbers and contact numbers, Passport and photocopies, additional passport-sized photos, Marriage certificates and photocopies, if applicable, Medical and dental records and any medication details, Pet passport, medical records, and travel documents, if applicable, Requirements and process of application of the appropriate visa at the, List of required customs, duties, and taxes to be paid, as well as the contraband rules to be followed when moving to Singapore as required by, Medical and health insurance requirements, including vaccinations, A transnational moving company to transport possessions. 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