Cost of living in Singapore
Wet markets are cheap places to shop
Living and working in Singapore offers less hardship and more creature comforts than virtually everywhere else in Asia. It is the number one choice for many expats who value its exotic lifestyle without any compromise on comfort or amenities.
It truly offers the best of both worlds but all this comes doesn’t come cheap. Expats used to living elsewhere in Southeast Asia such as the Philippines or Indonesia will be in for a rude awakening in Singapore, where average living costs can be more than twice as expensive.
Expenses for Singapore living
A high proportion of the foreigners in Singapore have expat employment contracts which include housing allowances and perhaps free medical and schooling costs.
When deciding to take up a job offer in Singapore it is good to know what your money will buy you here, and the general consensus is that a salary of around SGD$6,000 after tax a month will guarantee a very comfortable middle class family lifestyle.
Wherever you live and work, the biggest expense is always likely to be the monthly rent on a home. Like any large city, prices vary massively and the general rule is the further you live outside the centre, the cheaper the real estate. Prime locations such as the Orchard Road district or Bukit Timah can command rents of around SGD$5,000 a month for a smallish two bedroom condo. Of course, there are always bargain sub-lets to be found if staying in town for just a few months so check the local newspaper listings regularly.
Choosing to live just a 20 minute MRT ride away will get you a spacious detached house with a garden for a similar amount. Some of the most desirable colonial style homes in the city centre can cost as much as SGD$25,000 a month, while single professionals may want to consider renting a room in a house for just SGD$400 a month. More on property.
Due to excellent public transport that is exceedingly cheap, few expats have their own transport. Running costs involved in owning a car are very high and amazingly, even taking a taxi to the office every day is likely to be cheaper. An average month’s expenditure on public transport using buses or the MRT should come to no more than around SGD75.00 which includes the daily commute and a few nights out in the city.
The MRT is a cheap way to get around SIngapore
The fabulous range of cheap cuisine in the innumerable hawker food centres makes dining out an irresistible pleasure and a hearty meal can be had for less than SGD$5.00. There is a temptation to eat out every night at these prices and lunch on the go in the form of tasty wholesome sandwiches or Chinese pastries are even cheaper. Of course you can indulge in haute cuisine dining every once in a while and there are no shortage of hyped up Michelin starred restaurants serving up exquisite Western food. More on restaurants.
Drinking is an expensive pleasure in Singapore with cocktails and spirits costing upwards of SGD$15.00 in a trendy bar or club. Many popular places have a cover charge, especially those hosting live music, while others offer early evening happy hours and two for one drinks promotions. More on bars.
More cultured evenings out are pretty good value. You can enjoy classical music concerts, opera and fringe theatre shows for around SGD$20.00 a head although noted international performers command much higher ticket prices.
The monthly shopping bill is likely to vary from person to person and it is possible for a small family to eat well at home for around SGD$300.00 a month. There is plenty of choice for food shopping from cheap supermarkets such as Cold Storage, which has dozens of branches, to local food markets and gourmet delicatessens specialising in imported premium goods.
For example, in an average supermarket a litre of branded fresh milk will set you back around SGD$3.00, a loaf of wholemeal bread SGD$2.50 and a tub of margarine will probably cost SGD$4.00. Even the most obscure imported foodstuffs can usually be found in Singapore, so if you are craving tangy Roquefort cheese or real Parma ham, you will not be disappointed. Frozen microwave meals are widely available but prices are quite expensive. More on shopping.
Household utility bills are another expense which cannot be ignored unless you are sharing a house where this may be included in the monthly rent. For an average three bedroom family property you can expect to pay around SGD$200.00 a month for gas, electricity and water fees, SGD$100.00 for cable TV and wireless broadband subscription and perhaps SGD$100.00 for a monthly mobile phone plan.
As the shopping capital of the world, there is always something to spend money on and the temptation to flash the cash is ever present. For every type of expense from accommodation to entertainment, there is plenty of competition and choice and many areas where the average person can make cost cutting measures. On the whole, expats manage to command salaries which ensure a comfortable lifestyle in Singapore.
