Housing costs are still the biggest concern among US-based businesses in Singapore, followed by office space costs and availability of affordable manpower, revealed the latest 2013 ASEAN Business Outlook survey conducted by the US Chamber of Commerce and the American Chamber of Commerce.
Specifically, 71 percent of US executives in Singapore are dissatisfied over the cost of residential properties – down from 77 percent a year ago.
Notably, the number of respondents unhappy with office leasing costs rose to 54 percent from 48 percent previously, while those worried about the availability of cheap labour climbed to 48 percent from 40 percent a year back.
Nonetheless, 93 percent of senior business leaders are satisfied with the personal security they enjoy in Singapore, while 90 percent and 89 percent of respondents are satisfied with its stable government and infrastructure.
Furthermore, 57 percent of executives expect to boost their workforce in the city-state this year.
Overall, the survey polled 475 executives and members of both institutions in the region, of which 134 came from Singapore.
In its 12th year, this was the first time that responses were taken from all Southeast Asian countries, including Laos, Brunei and Myanmar.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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