https://www.edgeprop.sg/property-ne...xt-residents-after-failed-collective-sale-bid
Maintenance costs have increased in tandem with higher development and building costs of new condos in recent years. “Since the end of the Covid pandemic, the costs of maintaining residential developments and estates have spiked due to higher manpower costs,” says Wong.
She points to the government’s rollout of the Progressive Wage Model (PWM), which has helped to uplift the wages of lower-wage workers, including cleaners, security personnel, landscape maintenance employees and waste management workers. In most cases, the cost of higher wages has been passed on to consumers.
Before the implementation of the PWM, the average monthly wage of a condo security guard was between $2,000 and $3,000. After the PWM, monthly wages are between $4,500 and $4,800. In many cases, condo councils have responded by reducing the number of security guards they employ or turning to technology and mobile applications.
Maintenance costs have increased in tandem with higher development and building costs of new condos in recent years. “Since the end of the Covid pandemic, the costs of maintaining residential developments and estates have spiked due to higher manpower costs,” says Wong.
She points to the government’s rollout of the Progressive Wage Model (PWM), which has helped to uplift the wages of lower-wage workers, including cleaners, security personnel, landscape maintenance employees and waste management workers. In most cases, the cost of higher wages has been passed on to consumers.
Before the implementation of the PWM, the average monthly wage of a condo security guard was between $2,000 and $3,000. After the PWM, monthly wages are between $4,500 and $4,800. In many cases, condo councils have responded by reducing the number of security guards they employ or turning to technology and mobile applications.
