As a result, housing and other construction projects have faced prolonged delays. With more than 110,000 expatriates and 7,000 multinational companies operating here, citizens of the world will also feel at home forging a career in Singapore. Every year, the expatriate population in Singapore seems to continue to increase. This is because many foreigners and expats are interested in coming to this country every year.
According to many countries, Singapore is a very welcome place for foreigners. So it will be interesting to start a new journey here, either alone or as a family. For an English-speaking expatriate living in Singapore, there are many international schools to choose from, including many that follow the International Baccalaureate (IB) curriculum. Expat wives, husbands and children embrace Singaporean life using community forums and joining summer camps to help children make friends.
Most expats cite child care and school fees as one of their main expenses while residing in Singapore. In Singapore, expats can get a fixed-rate or variable-rate mortgage for up to 60 to 80% of the value of the property. Still, Singapore has made it easier for travelers to enter and seems more attractive to expats living in Hong Kong's rival financial hub, which has much stricter rules due to its zero COVID strategy. Expats looking for similar living conditions to those they enjoy in their home country will find that property prices are very high here, whether they rent or buy.
But COVID has sparked introspection among many relatively well-to-do expats in Singapore, where foreign workers make up one-fifth of the 5.5 million population. Expatriate companies and professionals have been attracted to the business-friendly country, one of the safest places in the world with a high quality of life, political stability, skilled labor, ease of travel and low taxes. Many Singapore-based insurance plans that cater to expats also have higher premiums than what locals usually pay. According to a Bloomberg report, Singapore has always been a popular destination for expats, thanks to low taxes and its role as a regional hub for many industries.
The data suggest that Singapore is not yet reaping the benefits of the exodus of expatriates from Hong Kong, although this could change when the city-state fully reopens its borders while Hong Kong continues to impose severe restrictions. Since every year, many expats move to this country and take up a new job or conduct new business.
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