Covid19 pandemic is affecting the economy of the entire world, and we have not seen the worst of it yet. The world is facing a high risk of second wave of Covid19, and currently, America is the worst hit continent with the United States of America and Brazil bearing the brunt of this pandemic with the highest number of patients and casualty combined, and followed by India in Asia.
Singapore is also very much affected by this pandemic, with the highest number of infected cases in South East Asia, with majority of the patient being foreign workers hailing from India and Bangladesh. Singapore employs many low skilled workers from countries like China, India and Bangladesh, with the bulk of these workers in the construction industry. These migrant workers are essential to the economy of Singapore to keep the cost of construction and many other industries low. With the efficient and careful ways of how Singapore government works, one may wonder why the infection rate is so high in Singapore. The reason for the high infection rate in Singapore is due to the fact that a very high percentage of the migrant workers stay in purpose built dormitory, and often, these dormitories accommodate quite a substantial population with many of them living together in a room. The matter was made worse when the hygiene level in the dormitory was not well maintained by both the operator and the workers as well.
Further, the workers will usually gather together in groups during their off day, thereby facilitating spread of the disease from one dormitory to another. Out of all the cases in Singapore, at least a good 90% of the cases come from migrant workers, and spread amongst the community remain low and well controlled due to restriction in group gathering and the fact that the government has made wearing mask compulsory when out in the public. The death rate is also one of the lowest in the world due to advanced medical science in Singapore and the fact that the government is fast to set up isolation facilities all over the country to relief the hospitals of overcrowding, giving those infected patients the much needed help that they can’t otherwise get if the hospital is over capacity.
The property sector, like the economy looks grim, when viewing activity for the home buyers come to a complete halt for 2 months when the country was in a mini lockdown. But even with no physical viewing of property, the transaction did not stop, as buyers adopt the technology of viewing houses virtually using Zoom, and during this period, new condominium sales did especially well. The launch of Ki Residences in fourth Quarter of 2020 will be the talk of the town. Ki Residences condo is a freehold condo, and is considered rare in Singapore’s context and there will be well sought after. Ki Residences Singapore will be developed by Hoi Hup Sunway joint venture, and it will be a product that will be practical and yet luxurious. Ki Residences Sunset Way consists of a total of 660 units, ranging from 1 bedroom to 5 bedrooms, and Ki Residences Floor Plan will be out closer to the date on launch.
For more information, please visit: https://www.ki-residencescondo.com/