The Cost of Living in Singapore | An Expert Guide

Singapore, a thriving city-state known for its exceptional quality of life, modern infrastructure, and vibrant culture, is often ranked among the world's most expensive cities. Located in Southeast Asia, Singapore has a population of over 5.6 million people and offers a unique blend of Eastern and Western influences, modern amenities, and traditional charm.

Singapore's economy is one of the most advanced in Asia, with a strong focus on financial services, technology, and international trade. The country is known for its excellent public services, efficient transportation system, and high standard of living, though these advantages come with corresponding costs.

The expat community in Singapore is large and diverse, particularly in areas like Holland Village, Orchard, and East Coast. Many foreigners are attracted to the country's safety, cleanliness, and excellent infrastructure, despite the relatively high cost of living.

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Regional Comparison

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Housing Costs in Singapore

Housing represents the largest expense for most residents in Singapore. Public housing (HDB flats) is available primarily to citizens and permanent residents, while expatriates typically rent private condominiums or apartments. In prime districts like Orchard Road or Marina Bay, a one-bedroom apartment can cost between SGD 3,000 to SGD 5,000 per month, while similar accommodations in suburban areas might range from SGD 2,000 to SGD 3,500. These costs include facilities like swimming pools, gyms, and 24-hour security, which are standard in most private developments.

Summary:

• Rent (city center, 1-bedroom): SGD 3,000-5,000/month
• Rent (suburban, 1-bedroom): SGD 2,000-3,500/month
• Utilities: SGD 150-300/month

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Food Costs in Singapore

‍Food costs in Singapore can vary dramatically depending on dining choices. Local hawker centers offer excellent meals for SGD 4-8, while mid-range restaurants typically charge SGD 20-40 per person. Western restaurants and high-end dining establishments can cost significantly more, often exceeding SGD 100 per person. Grocery prices are moderate by international standards, with a monthly budget of SGD 400-600 sufficient for a single person shopping at standard supermarkets.Summary:

• Hawker center meal: SGD 4-8
• Mid-range restaurant meal: SGD 20-40
• Monthly groceries: SGD 400-600

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Transportation Costs in Singapore

‍Public transportation in Singapore is efficient and relatively affordable. The MRT (Mass Rapid Transit) and bus system cover most of the island, with fares ranging from SGD 1-2.50 per trip. Monthly passes cost around SGD 120. Car ownership is expensive due to high Certificate of Entitlement (COE) costs, vehicle taxes, and parking fees. Taxis and ride-sharing services are readily available, with base fares starting at SGD 3.50-4.00.Summary:

• MRT/bus fare: SGD 1-2.50 per trip
• Monthly transport pass: SGD 120
• Taxi start fare: SGD 3.50-4.00

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Healthcare Costs in Singapore‍

Singapore's healthcare system combines public and private options, with costs varying significantly between the two. Public healthcare is subsidized for citizens and permanent residents, while expatriates typically rely on private insurance and facilities. A general practitioner visit can cost SGD 20-50 at public clinics, while private clinics charge SGD 50-120. Private health insurance premiums range from SGD 100-500 monthly, depending on coverage and age.Summary:

• Public clinic visit: SGD 20-50
• Private clinic visit: SGD 50-120
• Monthly health insurance: SGD 100-500

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Utility Costs in Singapore

‍Utilities in Singapore are reliable but can be expensive due to high air conditioning usage. A typical one-bedroom apartment's monthly utilities (electricity, water, gas) cost SGD 150-300, depending on air conditioning use. Internet service usually ranges from SGD 40-80 monthly for high-speed fiber connections. Mobile phone plans with data typically cost SGD 20-50 per month.Summary:

• Basic utilities: SGD 150-300/month
• Internet: SGD 40-80/month
• Mobile phone: SGD 20-50/month

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Cost of Living vs Quality of Life Correlation

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If you want to know more about Singapore and the cost of living there you can also check out the Singapore page.