Indians see twofold rise; Most ethnic Chinese PRs are from Malaysia

THE number of Singapore permanent residents has almost doubled in the last 10 years, from 287,500 in 2000 to 541,000 this year.

Most of the increase is accounted for by immigrants from Malaysia and the Indian subcontinent, according to census data released by the Department of Statistics yesterday.

The share of Indians in the PR ethnic mix climbed from 14.9 per cent in 2000 to 20.4 per cent this year.

In absolute numbers, they more than doubled, from 42,700 to 111,000.

The share of Chinese in the PR ethnic mix dropped from 76.1 per cent to 61.4 per cent, although the total number increased from 218,800 to 332,000.

For PRs of Malay ethnicity, the share dropped from 4.1 per cent to 3 per cent, although actual numbers went up from 11,800 to 16,000.

Most of the ethnic Chinese PRs in Singapore hail from Malaysia.

Over the 10-year period, the number of Malaysia-born Chinese in Singapore – permanent residents and Singapore citizens combined – went up by 81,000, while that of China-born Chinese went up by just 13,000.

Analysts noted that the new data may help correct a misperception on the ground.

Said political observer Eugene Tan of Singapore Management University: ‘This whole idea that we are being overwhelmed by mainland Chinese has no basis. The numbers should tell us that many from China are here only as foreign workers and, as the Prime Minister has said, we have to distinguish them from new immigrants.’

As for the large number of Malaysia-born Chinese PRs, Mr Tan said this could be due to the fact that many Chinese in Malaysia are ‘dissatisfied with the state of affairs there’, and see Singapore as a more ideal place to live.

Commenting on the surge in PRs from India, Dr Terence Chong of the Institute of Southeast Asian Studies suggested that this could have something to do with the fact that Singapore has ‘more openings in professions that see higher Indian convergence, perhaps due to language competencies or specific industry training.’

The IT industry is one which attracts a large number of Indians.

On the whole, experts agreed that the increase in the number of PRs was significant and had implications for social cohesion.

It shows that ‘the complexion of Singapore society is changing fairly rapidly’, said Mr Tan.

‘We were already seeing it in schools, in the public transport system, and in the housing market. The figures confirm it.’

Dr Chong was not optimistic about the implications for social harmony, since those qualifying as PRs, he argued, have a higher income and education level than working-class Singaporeans.

He said: ‘All this will invariably lead to higher rates of misunderstanding, resentment and suspicion in the years to come. They (citizens and PRs) will have to find ways of bridging the gulf between them.’

Source: Straits Times, 1 Sep 2010

It’s the largest single launch ever; five private developer sites for sale

THE largest number of new HDB flats in a single launch was released yesterday, while five sites for private developers were put up for sale by the Government.

The moves to bump up new home supply come a day after measures were unveiled to curb property speculation.

The 3,032 new flats comprise 1,408 build-to-order (BTO) units in Yishun and 1,624 balance homes spread over 10 non-mature towns or estates.

PropNex chief executive Mohamed Ismail expects the BTO flats to be five to six times oversubscribed, and says the balance units will be at least eight times oversubscribed.

The supply of balance flats comes from differing sources, including flats left over from earlier BTO exercises.

They are popular with buyers as they have either been completed or have shorter waiting periods, or are in more mature estates, said Mr Ismail.

There are 1,081 four-room balance flats priced from $190,000 to $380,000. The rest are two- to five-roomers and executive units. Prices start from $104,000 to $126,000 for a two-roomer.

The flats are in a range of estates, including Hougang, Punggol and Sengkang.

The BTO flats are in Yishun Riverwalk. The 254 studio apartments will cost $63,000 to $87,000. The rest are three- to five-room flats, with the 652 four-roomers priced at $214,000 to $268,000.

The HDB expects high application rates for the balance homes based on the previous sale, so people will have a greater chance of success if they target a BTO flat. The first sale of balance flats was held last October, with 2,132 units offered.

The launch yesterday brings the total number of new HDB flats offered this year to 12,876. The HDB will offer more than 16,000 new flats this year and up to 22,000 next year.

The private sector was catered for as well yesterday, with one confirmed site placed for sale in Petir Road and four other plots made available if developers are keen. All the sites are near projects that have been launched in the past year or so.

The 2.3ha Petir Road site has a maximum gross floor area of 47,763 sq m and can yield about 430 flats. It is next to the fully sold Tree House, launched in April.

An industry expert said the site may attract bids ranging from about $320 to $355 per sq ft per plot ratio, which works out to $164.5 million to $183 million.

One of the other sites is at the junction of West Coast Link and West Coast Crescent and next to the fully sold The Vision condo, which was launched earlier this year.

An Alexandra Road site is beside Ascentia Sky, which was launched last year, while a plot in Tanah Merah Kechil Road is near Optima@Tanah Merah, which sold out in three days in August last year.

A plot at the junction of Pasir Ris Drive 3 and Elias Road is near Oasis@Elias, which was launched last year.

Experts told The Straits Times that while most of these sites are attractive, their sale may not be triggered just yet as the cooling measures would have dampened sentiment.

‘Developers will adopt a wait-and-see approach. They will want to observe the responses to the upcoming launches before they act on these land tenders,’ said Jones Lang LaSalle’s South-east Asia research head Chua Yang Liang.

Source: Straits Times, 1 Sep 2010

SINGAPORE’S population has crossed the five million mark for the first time but the rate of increase of new foreigners, including permanent residents (PRs), has slowed sharply.

Between June 2009 and June 2010, the pool of PRs expanded by only 7,800.

This increase is just 1.5 per cent compared to 11.5 per cent in the previous 12-month period when there were 55,000 more PRs, according to advance estimates of the 2010 Population Census released by the Statistics Department yesterday.

Similarly, the pool of non-residents – including foreign workers and their families – also grew more slowly during this period: 4.1 per cent versus 4.8 per cent.

But the plunge is even steeper when placed against the 19 per cent jump between June 2007 and June 2008.

Analysts like research fellow Leong Chan Hoong say the foreigner slowdown is a deliberate move by the Government, prompted by the groundswell of anxiety among Singaporeans over competition for jobs, places in schools and universities, as well as rising home prices.

Said Dr Leong, of the Institute of Policy Studies: ‘These figures will be reassuring to Singaporeans…But we still need a steady and sustainable growth of immigrants to support the economy.’

As a result of the slowdown in foreigners, Singapore’s population rose only marginally to 5,076,700 in June this year.

The increase is just 1.8 per cent compared to 3.1 per cent in June 2009 when the population was 4,987,600.

About two-thirds of the 5.08 million – or 3.23 million – are citizens. The rest are foreigners and among them, 541,000 are PRs and 1.31 million non-residents.

The population, however, is below the 6.5 million figure that the Government said in 2007 it was using for planning purposes.

Minister Mentor Lee Kuan Yew subsequently said 5.5 million was enough, ‘an optimum size for the land that we have, to preserve the open spaces and the sense of comfort’.

The influx of foreigners has become an increasingly contentious topic in recent years and on Sunday, Prime Minister Lee Hsien Loong devoted a large part of his National Day Rally address to the issue.

Mr Lee urged Singaporeans to be open to foreigners, who are a source of talent, help prop up the ailing birth rate and keep the economy humming to create jobs for Singaporeans.

He also announced measures to further reinforce the Government’s policy that citizens come first.

These include a $9,000 National Service award for soldiers and a tightening of rules to cool the sizzling market for private property and Housing Board flats.

The new moves are on top of several policy changes last year to sharpen the distinction between PRs and citizens, such as giving citizens more benefits and subsidies in health care, housing and education.

These steps have, however, not deterred foreigners.

A Gallup poll released last month shows Singapore as a top destination for migrants, so much so that its population would triple if everyone who wanted to move here was allowed to.

The new census, done every 10 years, was conducted from March to August this year and the full report will be released progressively from 2011.

The figures released yesterday show Singapore is ageing.

The median age of residents, made up of citizens and PRs, went up from 34 years in 2000 to 37.4 years in 2010.

On the other hand, the number of working residents supporting an elderly person has declined.

This old-age support ratio in 2000 was 9.9 residents aged 15 to 64 for each resident aged 65 years and older.

Now, the ratio is 8.2 per elderly person. And if PRs are taken out of the equation, the ratio is 7.2 per elderly person.

Hence, the inflow of PRs has reduced the pace of ageing for the citizen population, noted sociologist and Nominated MP Paulin Straughan.

She added: ‘Caring for the elderly will be an increasing strain on the family and the state. With fewer PRs, it becomes even more critical to get more out of Singaporeans in the drive to increase productivity.’

Source: Straits Times, 1 Sep 2010

SOME home buyers who signed their option to purchase on Aug 30 or after this year may try to escape the brunt of tighter financing rules by bending the rules.

Experts, however, have warned against this as they may fall foul of the law.

Unlike those who signed their options before Monday, buyers with one outstanding home loan on Aug 30 or after will have to make a down payment of 30 per cent of the property’s price, in contrast to the 20 per cent that previously applied.

And at least 10 per cent of their down payment must be in cash – up from 5 per cent before – but the remainder can come from their Central Provident Fund (CPF) accounts.

Property agents contacted by The Straits Times yesterday report that some buyers are delaying the exercise of their option in the light of the new rules.

Some are considering backdating their option to purchase so that they are covered by the old rules.

Unlike exercising an option, there is no need for a lawyer to be present when an option to purchase is signed, making collusion between buyer and seller possible, said PropNex chief executive Mohamed Ismail.

But the window to do so is small, since a buyer is usually given 14 days from signing the option to decide whether he wants to proceed with the purchase by exercising the option.

Mr Ismail said that PropNex had a clear stance of not backdating options to purchase.

Mr Steven Tan, executive director of residential at

OrangeTee agency, also said that he discouraged any form of backdating as it could lead to legal complications.

The changes to tighten home financing were announced by the Ministry of National Development (MND) on Monday. Also announced was an extension of the period in which sellers’ stamp duty applies, to within three years of a home purchase, up from one year previously.

The amount of duty will be staggered, with those selling their property sooner having to pay more.

The full duty imposed for a sale within one year is 1 per cent for the first $180,000, 2 per cent for the second $180,000 and 3 per cent for the balance.

A sale in the third year would incur one-third of these charges.

The seller’s holding period will be based on the time that elapses between the seller first buying the property and a buyer exercising an option to purchase or signing a sale and purchase agreement, whichever is earlier.

Source: Straits Times, 1 Sep 2010