SINGAPORE is cutting down on its inflow of foreign workers indefinitely, in a new round of pandemic-related curbs unveiled on Friday night. The restrictions will affect an unspecified number of work-pass holders and their dependants - even those who had been granted prior approval to enter the country.
Imagine the increase in manpower cost if construction companies start hiring more locals instead of foreign workers on site? Companies will have to offer at least 5 times the pay of foreign workers to attract locals to work at construction sites. How will this affect property prices in future? Other countries have locals working on site, only Singapore kept property prices low by massively hiring foreigners.
Imagine the increase in manpower cost if construction companies start hiring more locals instead of foreign workers on site? Companies will have to offer at least 5 times the pay of foreign workers to attract locals to work at construction sites. How will this affect property prices in future? Other countries have locals working on site, only Singapore kept property prices low by massively hiring foreigners.