Pepsi, Unilever and P&G moved people out of Hong Kong into Dubai, she said. 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. 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. "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. But early estimates show this year will see far more people go. 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 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. "A lot of families that I know have gone away for like three or four months," said Edwards. On April 26 2022, the Singapore government announced that safe distancing would no longer be required for group activities. . She said her friends used Singapore as a base for short-term business or personal trips to the U.S. and Europe since Singapore doesn't require fully vaccinated travelers to be quarantined. 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. 15 Is it expensive to stay in Hong Kong? 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. Hong Kong's population fell by 1.6 per cent, or 121,500 in the year to June 2022, according to government data. With covid changing people's expectations of work and financial stability, most people in Hong Kong and . Changi Airport received 7,931. In Hong Kong, parents have to pay debentures, a form of advance loan to secure priority admission into international schools. Why are Hong Kongers so rich? "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. Hardly anyone has time to handle all the documentation and queries involved in home hunting between all of that. 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. Three children under the age of 5 have died . 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. While Hong Kong actress Cecilia Cheung, who relocated to Singapore last year, has sent her two sons to an international school in Singapore, she also sang praises of the country's education. A net 71,000 people left Hong Kong in February, and there are more flights to Singapore than anywhere else aside from Shanghai. 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. 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. Inquiries from Hong Kong jumped 25% from December 2021 to January 2022, Hmlet said. 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. Malaysia . March 2022 saw 137 scheduled flights from Hong Kong to Singapore, the highest number recorded since March 2020. Singapore and Canada. 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. 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. 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. 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. That figure rose further in March, jumping more than 110% from February, official data shows. "It gets to a point where it's just too much.". 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. This increased by 40.7 per cent to 38 homes in 2021. While Hong Kong has recently eased its Covid-19. Roslan Rahman/AFP/Getty Images With Singapore loosening COVID-19 and border restrictions, the. The encounter with HK ppl by me and my friend are that they are very superficial. Like Hong Kong, Singapore has been known as an international business hub and a bridge between the East and the West. 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. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. These would . And BTOs will adjust selling prices. Singapore is also an excellent location for expatriate professionals thanks to its liberal tax regulations. visa programs granting eligible Hong Kong residents the right to reside within their jurisdictions. 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. To be clear, interest from Hong Kong is just one piece of the puzzle. "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. 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. 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.". Usually ppl wont post embedded links when copy pasting. She asked to be identified with her last initial because of sensitivities surrounding the topic in Hong Kong. Locals are making plans for an exodus as protests show little sign of ending. 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. 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. Authorities also recently lifted the 10.30 p.m. cut-off for alcohol sales, and allowed bars and karaoke lounges to reopen again. 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. Hong Kong continues to safeguard "human rights and freedoms" but that "one has to observe the law in exercising freedom," she said. 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. Got a confidential news tip? 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. All Rights Reserved. The best/worst part is, they are very accustomed to the small space and high housing prices. A net 71,000 people left Hong Kong in February, and there are more flights to Singapore than anywhere else aside from Shanghai. 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. 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. 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. 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. In March last year . If you've visited Hong Kong and experienced a culture shock of how seemingly unfriendly the locals are, you're not alone. Some people are riding out Hong Kong's tight Covid restrictions by taking extended vacations, said Edwards. Hong Kong lost some 93,000 residents in 2020, followed by another 23,000 in 2021. All Rights Reserved. While it seems that Singapore should be the obvious choice for Asias top finance hub besides Hong Kong, strict visa requirements and hiring restrictions have hampered the influx of bankers intending to move here. 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. Most if not all, will not be able to obtain a loan in Singapore. she said. It is a much safer and stable place for them. The government refusal to expand public housing and let the property dictate by rich property tycoon. Most of them tend to rent a place for a short while, said Lee Sze Teck, Senior Director (Research) from Huttons Asia. Being an international finance centre, the city is able to generate more wealth for its residents, said Joseph Tsang, chairman of property agency JLL in Hong . But early estimates show this year will see far more people go. In total, some 5.4 million Hong Kongers could ultimately be eligible. On a year-on-year basis, the rental index rose 12.1 per cent. 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. Read by 200,000 Homies. Most of them tend to rent a place for a short while," said Lee Sze Teck, Senior Director (Research) from Huttons Asia. "You've just reopened the bars and the clubs, and people are being treated like adults.". "Interestingly, we also noted a group of members whose original travel intent was for business but eventually converted to permanent stays," Makarachvili added. To be sure, Hong Kong residents arent coming to Singapore to sight-see. 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. 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. "We do consider [Hong Kong] home, and it is difficult leaving especially considering how much we have invested emotionally in the city," he said. 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. The overall residential rental index increased by 4.3 per cent QoQ last quarter. Hong Kong announced in February that it planned to test its entire population for Covid three times. 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). Dubai is also absorbing talent from Hong Kong, said Kerry Consulting's Ang. Source: Ohmyhome Research, STB Theres also the option of studying in private education institutions that cater to expatriate communities. 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. Confirm la. He remained in Singapore for about a month, where he said there was "some degree of normalcy.". The scheme is open to Hong Kong residents who claimed British National (Overseas), or BNO, status before the handover in 1997. Thousands of others, locals or expats, are relocating to safer locations in the region. #41. Some people interviewed by the Japan Times cite inflation concerns, expensive housing, limited study options, and an overall lack of opportunity. 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. "We don't have enough people to serve what's going on in the marketplace. Before 2011, property prices were moving faster than income. Unfortunately, some bankers and hedge fund managers are already having second thoughts. 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. 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. 13 Is Singapore richer than Hong Kong? She said that is especially true for American and European employers that already have a presence there. August 14, 2021. Singapore is seldom the first choice for Hong Kongers seeking migration. 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. At the time, Bloomberg reported a surge from anxious expatriates sizing up schooling options beyond the former British colony to send their children to. Singapore's population and geographic area in comparison to Hong Kong's are 75% and 65% respectively. 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 . 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. 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 . 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). Let's look at Singapore. Hong Kongers snap up property in Penang, Singapore amidst unrest. This is where EP applicants are rated based on various criteria, ranging from salary to skills and qualifications, and the hiring firms diversity and support for local employment. 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. (Ethnic Chinese comprise over 90% of Hong Kong's 7.4m population and over 70% of Singapore's 5.6m. 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). Continue? Hong Kong lost 93,000 residents in 2020, followed by another 23,000 in 2021. In 2020, there were 27 homes bought by Hong Kongers. 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. This indicates that while guests may relocate for work, they are looking to bring their families along as well. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. 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. It gets even harder if youre a parent looking for a school that best fits your child. 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. 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. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. "Based on our observation, most bookings from Hong Kong are for permanent relocation to Singapore," Hmlet's CEO said. 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. 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. 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. Simply tell us about your specific housing needs and we will MATCH you with the right home! 2022 CNBC LLC. Some school debentures are refunded in full once the child completes his or her education while others may not or see them depreciate to zero over time. A Division of NBCUniversal. They will want a home much larger than their Hong Kong home, Lee said. The 34-year-old Hongkonger is set on emigrating to Singapore with his wife and two young daughters. 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. This article was first published in 99.co. Whereas one company executive might have left in the past, now "they're all going," she said. 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. However, masks are still required at nightlife venues such as bars and clubs when capacity exceeds 75%. Hong Kong began allowing groups of four to gather at any one time, and restaurant operating hours were extended to 10 p.m. 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. This included enquiries on placements in international schools like the Singapore American School and the Canadian International School in Singapore. Linda Yeung, "Singapore calling," South China Morning Post, June 25, 1995. 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. 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. head of operations for hotels and serviced residences, Far East Hospitality, Why real estate investors are flocking to Singapore. 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 . Got a confidential news tip? 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. 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. Charlotte Parsons and . 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. 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. All trending upwards. 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. 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 As for documentation requirements, all international students must obtain an official Students Pass to be eligible for registration at local institutions. One such move was the increase of the minimum monthly salary threshold for Employment Pass (EP) and S-Pass applicants from September this year. Mothers and children left Hong Kong upon news that governmental policies were separating parents from their children who tested positive for Covid-19, said Pei, a long-time resident of Hong Kong. Sure good thing for all friends and comrades here. Visitor arrivals from Hong Kong to Singapore nearly doubled from January to February this year, according to Singapore's tourism board. Theres also the Complementarity Assessment Framework (COMPASS) points system due to start in September 2023. "If this continues on in Hong Kong for, I don't know, the next year or so, I think it will be a strong enough reason to leave," he said. 2022 CNBC LLC. A Division of NBCUniversal. Sign up for free newsletters and get more CNBC delivered to your inbox. The top choice is Hong Kong's democratic neighbor . including young adults moving out of their parents' homes and people looking for interim housing because of construction delays. Large companies are also relocating to Singapore, said Cynthia Ang, an executive director at the recruitment firm Kerry Consulting. Current Situation: Recently the US has announced they will be seperating Hong Kong from the mainland China in the immigration process. Other companies are staying in Hong Kong, but downsizing their offices, and moving regional headquarters to Singapore, said Ang. "I mean, is it even worth it anymore?" 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. more than 100,000 applying to move as of March. Immigration from Hong Kong to Canada is "booming," according to the Canadian immigration website, CIC News. Well guide you through everything from lease signing, deposit payment coordination and legal stamping of documents. 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. From 2015 to 2019, the city gained an average of 53,000 new residents per year. March 2022 saw 137 scheduled flights from Hong Kong to Singapore, the highest number recorded since March 2020. 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. A total of 2.9 million people registered and so can apply for the. There are over 230,000 Hong Kong Americans residing in America. 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. They will probably have to sell their home in Hong Kong to finance their purchase here. Searching for a job overseas is hard enough. 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. Dont forget these stocks have up more than 50% since pandemic. One commercial tenant representative for a large property company, speaking anonymously, said companies were making a subtle shift to Singapore, opening subsidiary offices. Singapore, however, has gradually. This includes finding a suitable home to rent, arranging virtual home tours (if needed), negotiating prices on their behalf, and securing the best deals for their needs. Residents of Hong Kong are leaving the city in droves in 2022 not because they want to, several told CNBC, but because Covid restrictions and what they see as an erosion of democratic norms are pushing them to leave. Some of the clients Sun talked about are looking at the luxury home segment or prime location. Terauchi said she has friends who are leaving, some who have lived there longer than she did. 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.. 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. Hong Kongers who are considering a move to Singapore will find themselves in good company. Get this delivered to your inbox, and more info about our products and services. This group almost never get to learn or to speak Chinese. However, she shared that some may have bought homes and the caveats logged under China or foreign (unspecified). Hong Kong is witnessing an intensifying exodus of locals and expatriates, one that started in 2019 amid pro-democracy protests that sometimes involved violence. 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. "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.". The app has been crucial for close contact tracing over the past two years, but will only be required for events with more than 500 people from 26 April 2022. 199. 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). . "Hong Kong was always the fun place to be," he told CNBC. But this year, they say they've had enough. 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 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. 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. According to Sun, there has not been a significant increase in buyers from Hong Kong over the past few months. During the pandemic, both countries launched visa programs granting eligible Hong Kong residents the right to reside within their jurisdictions. 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. "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.". 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 . 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. SINGAPORE After eight years in Hong Kong, Jonathan Benarr is giving up that city for a new set of attractions in Singapore. They stuck it out during the political protests of 2019. 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. Many fathers remained to work, she said, but many are now asking their employers for transfers to leave. There are signs that rental demand has grown further. Forum members and moderators are responsible for their own posts. Hong Kong residents who qualify for the scheme will be allowed to stay in Britain for five years and then apply for "settled status" and citizenship. Dive Deeper: Condo Renting 101: Where to Look, Sizes and Cost. The first and foremost consideration is getting a loan to buy a home in Singapore. Ohmyhome was founded by sisters Rhonda and Race Wong; the latter was also part of 2R, a former cantopop duo in Hong Kong. Singapore allows qualified Hong Kongers to wait five years before they must physically migrate, which may account for the low residency rate. 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. The new visa scheme could bring over 300,000 Hong Kongers and their dependents to Britain in the next five years. 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. However, there was a jump in the number of Hong Kongers buying properties in the past year. Millions have taken to the streets during four months . About 9,000 Hong Kong. The very top all live on HK island around the Peak, Mid-Levels, Repulse Bay and around the American International School. We want to hear from you. I also never imagined Meta, AMZN and TSLA to be half price. Edelyn Chua. You must log in or register to reply here. 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. 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. Rival . While Singapore is a vibrant city that holds much promise, starting a new life overseas is never easy. Enter your best email below to join in. 14 What billionaires live in Hong Kong? 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. 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. 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. "Saudi Arabia is trying to fight for a slice of the pie" too, said Ang. Because at Ohmyhome, were always on your side, always by your side. Limits to group sizes, which were previously capped at 10, have also been lifted. -. ", "Well, fast forward [two years], Singapore is a shining light," he said. 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 2018, Hong Kong's GDP was US$362.99 billion, and Singapore was US$364.1 billion. "Sales have picked up as more Hong Kong businesses move to Singapore. 12 Are hongkongers moving to UK? "Singapore was where you went if you were a bit boring or you had a family. "", was what a complete stranger said to me brusquely on my first trip to Hong Kong. You are using an out of date browser. LIfe in Singapore has largely returned to pre-pandemic norms. From July through mid-August, when street protests turned. They are pretty self contained. You will find that Hong Kong has disappeared, leaving only a bunch of Hong Kongers, each of whom has Victoria Harbour in their heart and Lion Rock in their mind, and shared memories of Hong Kong movies, pop music and culture stowed away between the hills and waters. It may not display this or other websites correctly. Because we know first hand how hard it is to move abroad, well also throw in advice on how to apply for various services such as utilities, landline and the internet. 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. 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. But early estimates show this year will see far more people go. He has done his sums, seen a migration consultant, set aside HK$500,000 (US$64,000) to move. Two-fifths had under HK$25,000. 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. Authorities in Malaysia, Australia. He has done his sums, seen a migration consultant, set aside HK$500,000 (S$88,315) to move. Authorities in Malaysia, Australia. Both cities are also recognised as two of the four Asian Tigers. When youre ready, you can book an appointment with us. 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.". 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. However, the movement of Hong Kongers has "not yet caused a discernible . This means benefits such as financial and logistical support. The only winner is the gahment. all these foreigners/PR will need to pay ABSD when they buy properties in Singapore. In Singapore, limits on social gatherings have been scrapped and social distancing is no longer required. ", Families are transferring to Singapore, she said, but small- and medium-sized businesses are also on the move. For most Hong Kongers, Chinese nationalism is more important than human rights or democracy. Mar 28, 2022. It is a clean and safe place to live and explore. Those with a lot to lose, because of their economic standing, army or political background were eager to leave. But that's "not something to celebrate," said Leung, who works in a financial institution and returned to Hong Kong in April. 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. March 2022 saw 137 scheduled flights from Hong Kong to Singapore, the highest number recorded since March 2020. When things stabilised in HK, they moved back. The Briton is currently packing up his apartment in Hong Kong and moving to Singapore permanently. 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. 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. 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. We want to hear from you. "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. We can simplify your home-finding journey by arranging viewings at your convenience. Hong Kongers who are considering a move to Singapore will find themselves in good company. This increased by 40.7 per cent to 38 homes in 2021. The city tightened restrictions further in February, though they were eased slightly last Thursday. Youre logging out from your Ohmyhome account. The next consideration is the size of the home. 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. Bloomberg News, Bloomberg News. 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. JavaScript is disabled. Singaporeans and PRs pay 0 per cent and 5 per cent ABSD respectively for their first Singapore-based property. Around 70% of bookings from Hong Kong at Hmlet Homes were for three-month stays, the minimum required. . Due to the riots in Hong Kong many . French lender Societe Generale is temporarily moving about a dozen traders from Hong Kong to Singapore, Bloomberg reported last month. She and her family moved to the Netherlands, where her husband is from. And though they are looking forward to more freedom of . 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. China concerned about keeping Hong Kong as offshore financial center: Professor. 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. The influx of Hong Kongers may result in an uplift of asking prices." - Ella Sherman. Hong Kong lost 93,000 residents in 2020, followed by another 23,000 in 2021. "Singapore is seldom the first choice for Hong Kongers seeking migration. Singapore was also the most popular global destination for outbound flights, second only to Shanghai. PRACTICAL DIFFICULTIES OF RELOCATION JustCo said it hasn't observed a substantial increase, but that international financial institutions in Hong Kong are seeking flexible workspaces in Singapore. There are two grades of expats in Hong Kong. It has been reported that most Hong Kong Americans were born in either Hong Kong, the US, or Guangdong, China. 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. "The first and foremost consideration is getting a loan to buy a home in Singapore.. Now Pei said she's noticing a lot of these people are not coming back. According to the European Chamber of Commerce, nearly 50 per cent of European companies are planning to move out. As of Thursday, Hong Kong began allowing groups of four to gather at any one time, and restaurant operating hours were extended to 10 p.m. Similarly, Leung said he is not in a rush to move back to Singapore, but is open to the idea. Source: URA, OrangeTee & Tie Research & Analytics. 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. "We cannot keep up with the capacity," she said. Dive Deeper: Simple Relocation Checklist for Foreign Talents Moving to Singapore. 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. 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. 64,900 BNOs applied for the visa. Hong Kong "was no longer the country I had grown up in, it was no longer the country I remembered," she said. 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. 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. 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. "A lot of parents, understandably, freaked out, so they booked themselves on the first flights out," she said. The young people in Hong Kong are facing escalating housing prices with limited job prospect. Some hold British National Overseas passports , a document available to those born before Hong Kong reverted to China in 1997; others do not. They need to have a job here to get an Employment Pass, S-pass or work permit, shared Mak. There is a mixture of clients those moving over with their families and others who are single, business executives. 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. Silk Relo and Asian Tigers are also seeing an "uptick" in moves from Hong Kong to Japan, South Korea and Thailand, said Kutt. But Hong Kongers moving to Canada are facing a steep incline in housing prices. 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.. In Hong Kong, people arriving need to quarantine for at least seven days in a hotel and take multiple Covid tests. . The private residential rentals continue to increase strongly in 1Q 2022. Singapore) risks losing his or her debenture. "[Hong Kong] just feels backwards," said Benarr, who is group director of real estate at hospitality company The Mandala Group. In the first three quarters of 2021, 88,800 Hong Kongers applied for British National (Overseas) visas. 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. Many people and companies are moving to Singapore,. In Cantonese, the phrase literally translates to, "don't obstruct the . To be clear, interest from Hong Kong is not the only reason for rising rents. Singapore was also the most popular global destination for outbound flights, second only to Shanghai. 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. 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. 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. 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. The 34-year-old Hongkonger is set on emigrating to Singapore with his wife and two young daughters. Mak added that they are likely to wait until they get their Singapore PR status before buying a property in Singapore. 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.". Kutt said this is "absolutely" happening, as evidenced by the number of moves occurring without clients present. It's expected that between 123,000 and 153,000 Hong Kongers will arrive in Britain this year. Singapore has a Chinese majority population, many HongKonger had migrated and settled down in Singapore since 1997. "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. Many hongkies came over in the late 90s as well. 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. In 2020, there were 27 homes bought by Hong Kongers. Rental prices in Singapore were already moving higher during the pandemic due to demand from various sources. "If something comes along, the numbers are right, it aligns with my career goals, why not right? Source: Ohmyhome Research, STB My wife gets to know his mother well during their stay in Sg. However, that methodology is based only on applications for. according to the Urban Redevelopment Authority. Sign up for free newsletters and get more CNBC delivered to your inbox. "What was once a progressive city, just feels like it's no longer interested in being part of the international conversation," he said. They are keen to rent or buy homes as they plan to work in Singapore in the mid to long term. Others may be looking at city-fringe homes that are near the CBD. Hong Kong is like a shattered mirror; each person has kept a piece. Finally, Singapore is stepping down the use of its contact tracing app, TraceTogether. My son has a classmate who's family moved over to Sg after 1997. So private property price on the set to rise again? Its a tough call, especially if theyve prepaid a high debenture. Dont put off your relocation plans any longer. Many dont believe Singapore aiming more than 6.9M population. This marks the third consecutive year of decline and the biggest drop in the last six decades. "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. Besides healthy domestic demand and the spillover effect from the recently increased Additional Buyers Stamp Duty (ABSD), Mak also attributed the rental increases to the economic recovery and border reopening, which led to more workers returning to Singapore. They feared it would limit their opportunities. "Heaps are in Thailand they just packed up and went to Phuket or [Koh] Samui. Stifled by strict Covid restrictions in Hong Kong, residents from the financial hub are continuing to move to its rival, Singapore. "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. More over we beat Covid19 like a a hero and our leaders are all number 1. These restrictions have prompted some of these firms to look farther, such as Dubai, London or Sydney, as possible relocation destinations beyond Singapore. 1.Hong Kong residents moving to Singapore, snapping up rental homes Author: www.cnbc.com Date: 11 days ago Rate: 3(515 reviews) Rate You can also WhatsApp us at 9755 1009! Small companies are "taking the entire team and putting them into Singapore.". Singapore, however, has gradually dropped quarantine requirements since September. The chart below displays the first choice of location among Hong Kong residents in our sample who stated that they had thought about moving. However, "the 2019 protests to the currentpandemic situation and seeing friends leaving already made our decision a little bit easier.". From Tuesday, vaccinated visitors will no longer need to take any Covid tests. 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. 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. Most people leaving, said Pei, are headed to same place: Singapore. Based on agents feedback, we received more enquiries from clients in Hong Kong. Get this delivered to your inbox, and more info about our products and services. The population of the city fell at. For a Hong Konger seeking greener pastures offshore, Singapore is probably one of the first countries that come to mind. Some Singaporeans were also motivated to return to visit their home country to see family and friends. Some of those arrivals intend to settle down in Singapore and have turned to co-living spaces or serviced apartments, according to industry players. Tom Grimmer, "Rivalry Between Singapore and Hong Kong is Heating Up," Financial Post, June 28, 1995. Britain has taken in thousands of Hong Kongers. 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. 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