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Businesswise, Singapore is the actual capital of Indonesia. Indonesian use SIA (Singapore airlines for their overseas flights), PSA (port of Singapore authority) for their cargo transhipment, use Singapore banks to park their money buy condos in Singapore so that they can do their shopping and childrens’ schooling.
In the old days, some non-malay Singaporean speak malay to cater to Malaysian and Indonesians. nowadays, even that is neglected and hardly any young ones speak the language anymore except the malay people living there.
I’ve had indonesian classmates who actually own their own condos at tanjong Rhu! And anyway, singapore is a financial services kinda country, it’s just across the channel and it offers security, nothing surprising!
Like Elfi had noted, my Indonesian schoolmates too were all living is nice condos not just in District 9, 10 and 11 but along district 15 as well.
And agree fully with the blog post above, you have to give investors the confidence before they will invest