Word: clubbings
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...coveted spots at international schools like the Singapore American School or United World College of South East Asia were so long that expats were encouraged to register their children at birth in order to gain admission four or five years later. The cost of joining the Singapore Island Country Club and the American Club soared as transferable memberships were bought and sold on the open market like hot stocks. (See 10 things to do in Singapore...
...vanish are the generous housing allowances that many companies use to entice foreign talent overseas. "I'm beginning to see more expats downgrade to smaller and cheaper apartments," says Michael Ciola, an Australian real estate broker who caters to foreigners. The second luxury to be dropped is the private club. The cost of a transferable membership at the Singapore Island Country Club has slumped to $100,000, down nearly a third during the past 18 months, according to the Business Times Golf Index, a widely followed local benchmark. (See pictures of Singapore...
...view apartment near downtown Singapore that rented for $5,000 a month. Today he occupies more modest digs, paying about $700 a month for an apartment he shares with a friend. "I'm interested in creature comforts like hot water, but I can do without joining a country club or driving a Lamborghini," he says...
...sales position at a Singapore-based stock brokerage for a modest salary. "We're not eating out as much," he says. "We're cutting back on holidays." Even so, he has decided not to pull his two children out of their international schools, and he still frequents the American Club sports bar, where the TV screens hanging from the ceiling blare more CNBC financial news than football or tennis. Most evenings, the crowd of bankers and businessmen groan and gulp their drinks as they watch markets plummet...
...mood is more cheery around the chipped Formica tables at the Zhenghua Community Club's coffee shop in Bukit Panjang, where Fulwood often stops for a greasy fried-oyster omelet on his way home. Asked if he'd rather be sipping lychee martinis in an air-conditioned hotel bar or swanning around a big Victorian bungalow, Fulwood grins and says, "I'd be crazy not to, of course. But I'd still come back here every weekend. This is real life...