Cost of Living in Singapore

admin1 July 23, 2014 0

Singapore is sovereign city state located in South East Asia and is an island country which consists of 63 islands.  The total land area covered by this country is 716 square kilometer but this size is expected to increase by another 100 square kilometer in the next 15 years.

This island country is a highly developed place with most people living in urban areas and enjoying a modern lifestyle.  Singapore is one of the most popular commercial hubs in the world and is one of the busiest ports as well.

The cost of living in Singapore is quite high as compared to other South East Asian nations like Indonesia, Philippines, and India etc.  But since income tax is low and salaries are high, the high cost of living doesn’t bother those who are settled here.

This city state has a well to do population which reflects the prosperous economy. Infact this country also has the highest percentage of millionaires in the world.   For expats, Singapore is the 6h most expensive nation in the world as of 2012.

Housing costs:

Housing in singapore

Housing turns out to be the biggest expenditures for the people living in Singapore. This city state has the 4th largest population density and hence requirement for real estate is high, leading to high prices for rent or purchase of property.

  • The cost for rent of one room starts at SGD 500 per month.
  • An apartment with 3 or more bedrooms per month can cost SGD 2200 to SGD 3000.
  • If you are living in an urban area near the city center, then renting an apartment can be an expensive affair.  This can extend up to SGD 700 per month for a 3 bedroom flat.
  • If you are looking for renting a house or a condomonium, then be ready to spend SGD 8000 per month and expect maximum amount of SGD 15000 per month.

Cost of Utilities:

Power-and-Electricity

  • Water and electricity can cost SGD 150 to SGD 200.
  • But including other utilities such as internet connection, mobile tariff and house phone lines, another SGD 130 can be kept aside.

Transportation costs:

cost-of-transportation

  • Singapore has a reliable and safe transport system but it can be a costly affair.
  • Public transport can cost up to 500 SGD per month if you opt for buses, trains and taxis as your means of transport to work or school.

Entertainment, leisure, sports and fitness

entertainment and sports

Apart from normal utilities and day to day costs, entertainment and sports activities also take up some part of the total cost of living.

  • Cinema ticket for one person can cost SGD 11.
  • Renting a tennis court for 1 month can cost SGD 11.0.
  • A membership at a fitness club for one month is SGD 129.73.
  • Eating out at an inexpensive restaurant can cost SGD 10 whereas eating out at a mid-range restaurant can cost SGD 50 for two persons.
  • A combo meal at McDonalds or any other fast food restaurant can cost SGD 7 for two persons.
  • A 0.33 liter of water bottle costs SGD 1.09 in Singapore.

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