Singapore is a financial hub in the center of Southeast Asia. It is a small island city-state that is surrounded by countries that have per capita incomes that does not approach Singapore’s. Basically, Singapore is an expensive place to live compared to the rest of the region. Before relocating to Singapore, it is important to realize that the cost of living in Singapore is high in every regard compared to its neighbours, but there are a few saving graces. One such saving grace is that the salaries mirror the costs, and people generally have a high standard of living. The following is a review of some of the specifics of the cost of living in Singapore, in Singaporean dollars, which for one SGD dollar there are 0.80 USD.
At a cheap restaurant you’re likely to spend around 10 dollars for a meal. Mid-range establishments will tend to run you up 25 dollars or more. A local beer is 6 dollars, and a soda is 1.50. Food is not the most expensive item when we consider the cost of living in Singapore. A kilo of potatoes and a kilo of rice cost the same at 3 dollars.
The transportation in Singapore is also not very expensive on a global scale. Again, in the region the cost of living here outstrips neighbors like Indonesia and Malaysia by far, but on an international index, 1.80 for a one-way bus ticket within the city is not overly expensive.
You can find clothes for cheap just across the border, which is the best plan of action if your wardrobe is lacking. Cost of living typically includes clothes, but retail outlets will clean you out in Singapore. Leisure and recreational activities like going to the movies and to sports games cost about average on a global scale. Cost of living typically doesn’t include travel, but it is worth mentioning that since Singapore is so close to Thailand, Malaysia and Indonesia, a trip abroad is not expensive.
Where the cost of living in Singapore starts to climb well above international averages is in the amount you’ll pay for your rent. Typically, Singapore’s single-bedroom apartments rank among the more expensive in the world, while multiple-room apartments are for some reason more affordable. The reason rents are so high has to do with the fact that Singapore has a very limited amount of space, and real estate is a valuable commodity in the domestic market. You can visit Numbeo, this website has collected detailed information about the cost of living in Singapore.
The first question that pops into everyone’s mind when thinking about relocating to another country is: how much does it cost? Money plays one of the biggest roles in daily life, and it makes sense that everybody factors it into any major life decision. The cost of living in Singapore is comparable to all major cities around the world. It ranks as one of the most expensive cities in all of Asia, but that’s not to say that you have to be rich to live there. There are many different levels in Singapore so you simply have to find the one that fits your budget.
After housing you have to consider your bills. In Singapore your bills will run somewhere in the three hundred US dollar range considering electricity, internet, water and your mobile phone. Public transportation is a great deal. You can get a one way ticket on local transportation for $1.50 and a monthly pass for about $60.00. You have to pay more if you want to take taxis around town, but that is to be expected. For more information visit the official website about Public transportation in Singapore.
After housing, it seems like all of our money goes to food. Some people eat to stay alive while others eat as a form of entertainment. In Singapore you will have lots of delicious food options to choose from. There are high end restaurants you can spend an entire paycheck at, or there are local restaurants where you can eat cheaply. As for groceries, there are great local markets to buy your weekly food. There are many high end grocery stores as well.
The cost of living in Singapore ranks up with the major cities in the world. It compares to New York, London, and Tokyo. But, just like all of those other cities, you can find a lifestyle that fits your budget. As long as you have a steady income, you can have a very enjoyable life in Singapore, without going broke.