Singapore is one of the many Asian countries that is located in the South East part of the continent and consists of 66 islands in total. This country is a sovereign city state and is a densely populated country where the cost of living is higher as compared to many other Asian countries such as Philippines, India, Indonesia and Malaysia etc. Due to a very urban lifestyle in Singapore, many people from different countries come to settle down here and it is not surprising to see this city state divided into mini areas like ‘Little India’ consisting of many non-natives.
Singapore can be an expensive place to travel, live in and move in. The main reason for this place having a high cost of living is the high cost of accommodation and real estate. Housing prices here, be it renting or purchasing are high which is mainly due to the high population density.
Housing in Singapore:
Singapore has the 3rd highest population density in the entire world and housing takes the maximum share of the expenses. Let’s look at some of the housing options in Singapore:
- Many singles prefer to rent a room or take up a flat that is shared. This costs less than single occupancy rooms and do not need you to spend individually on the utilities such as water, furniture, electricity and internet etc. Rent for one room (shared) starts from SGD 500 per month and depends upon the location.
- If you opt to live in a government subsidized housing flat, an apartment with more than 1 room can cost anything between SGD 2000 and SGD 3000 per month.
- A privately owned 3 bedroom apartment can cost you anything between SGD 3000 and SGD 7000 per month but these are mostly situated in older buildings. The cost may increase if you opt for a flat near the city center.
- Many richer category people prefer living in condominiums. Since these housing options have many high end facilities like swimming pools, gyms and courts etc., they are generally high priced. The rent for a condo outside the city center starts from SGD 3500 for a 3 bedroom property whereas if you wish to live in a one near the city center and with all the state of the art facilities, then be ready to shell out SGD 15000 per month.
- Ofcourse, like other places, houses are the most expensive housing affair and cost SGD 8000 per month.
- As far as purchasing is concerned, the rate for one square meter of property in the city center is SGD 20082.61.
- But if you are looking for a property which is outside or far away from the city center, then the price per square meter to buy an apartment comes out to be around SGD 11374 which is almost half for the apartment in the city center.
For foreigners visiting the country for a few days, hotels and guest houses are the best options and are available in plenty.