More foreign firms choose island-state despite rising rentals, costs

On uptrend: People walk past condominium blocks in Singapore. Rental index for all private residential properties surged almost 30% year-on-year in 2022, making it the highest rise since 2007. — Bloomberg

SINGAPORE: Home rentals may have become a thorny issue for some foreigners living in Singapore but that has not deterred companies from wanting to set up shop in the city-state.

A rising number of firms are being drawn to the republic, though escalating costs have made some firms based there consider cheaper options.