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The consequences of these trends are: - People are more and more offered local contract that may or may not include relocation benefits but often do not include housing or housing allowances
- 80% of Multi-National Companies (“MNC”) prefer sending staff on short term missions (less than a year) to train local personel to minimize costs rather than relocating expatriates for several years. (KPMG 2007 Global Assignment Policies and Practice study).
People on a mission abroad have today a choice between: - staying in an hotel: they are costly and not suitable for long term stay. This is an issue if you are coming with a partner, a family or have visitors
- staying in a serviced apartment: they are very costly
- Sometimes, when the mission is for more than 6 months, they elect to rent furnished apartment, this causes many logistic hassles.
Incentives to expatriates have evolved significantly in the past years: - More companies are shifting away from directly sourcing for housing on behalf of their expatriates employees (especially in big international cities such as Singapore).
- When housing is offered as part of an incentive package, a housing allowance is paid on top of salaries.
This has profound consequences on the market for the short term housing for the expatriates: - More and more individuals, not companies are signing directly with solution providers
- Costs become a significant driver of choice and value added services and location become relatively less important.
Our Serviced Accommodation offer was created to meet the need for Affordable Short Term Serviced Accommodation |
