Recently, the European Chamber of Commerce in Singapore, in conjunction with business groups from 14 European countries in Singapore, the Singapore International Chamber of Commerce, the British Chamber of Commerce in Singapore and the Canadian Chamber of Commerce in Singapore, conducted a survey on rents to assess the impact of the current rent hikes on the operations of European businesses in Singapore. 268 businesses of all sectors and sizes participated in the survey.

The final results of the survey showed that nearly half of the expatriate employees reported that rents have soared by more than 40%, with 36% saying that rents have increased by between 20-40% from the past. Given the increase in rents, some said that although their companies were giving subsidies to offset the increase, they were still unable to afford it.

Most of the European companies surveyed said that rent is part of the company's business operating costs and they hope that the government will intervene in the rental market by lowering or capping rents, otherwise they may consider moving out of Singapore to a neighbouring country due to cost pressures.