What Is the Cost of Living in Singapore?
Singapore, the Lion City, is one of the top cities in the world. This city is known for its rich traditions, culture and job opportunities. Due to this, Singapore attracts expats and students searching for foreign education and jobs across the world.
Although the cost of living in Singapore is comparatively higher than the other top cities worldwide, if you manage your expenses wisely, it will not be a burden to your pockets.
How Much Does 1 SGD Cost in INR?
What Is the Average Cost of Living in Singapore?
In this section, we will see the cost of living in Singapore for students, bachelors, couples and a family of four. The table below illustrates the approximate monthly expenses in Singapore –
| Category | Approximate Cost |
|---|---|
| Bachelor | 3,556 SGD |
| University student | 2,569 SGD |
| Couples | 68,882 SGD |
| Family of four | 68,882 SGD |
What Are the Top Expenses of Living in Singapore?
In this piece, we have compiled the cost of living in Singapore based on the several areas of expenses an individual has to face in the city. These expenses include –
1. Accommodation
For people moving into Singapore, paying the rent or purchasing a decent living space will be the biggest expense. Individuals should expect around 942 SGD – 4709 SGD per month to pay for rent and 2018 SGD – 8072 SGD per month if someone is eligible to buy a property in Singapore.
Rental Accommodations
| Classification of Accommodation | Approximate Cost |
|---|---|
| HBD flat (shared) or condo apartment | 940 SGD – 2,700 SGD |
| Studio apartment | 2,018 SGD – 6,054 SGD |
Buying a Property
| Property Type | Approximate Cost |
|---|---|
| Resale property | 6,73,000 SGD – 40,40,000 SGD |
| Private property | 17,50,000 SGD and above |
2. Groceries
Groceries in Singapore are costlier than the other countries in the world due to the fact that most of the products in the market are imported. Milk, non-Asian products and non-tropical fruits tend to be more expensive.
| Grocery Items | Approximate Cost |
|---|---|
| Milk (1 litre) | 3.5 SGD |
| White bread (1 loaf) | 2.4 SGD |
| White rice (1 kilogram) | 3 SGD |
| Eggs (1 dozen) | 3.3 SGD |
| Cheese (200 grams) | 26 SGD |
| Chicken breast (1 kilogram) | 10.4 SGD |
| Apples (1 kilogram) | 4.8 SGD |
| Bananas (1 kilogram) | 3 SGD |
| Oranges (1 kilogram) | 5 SGD |
| Tomatoes (1 kilogram) | 3 SGD |
| Potatoes (1 kilogram) | 2.6 SGD |
| Onions (1 kilogram) | 2.6 SGD |
| Lettuce (1 kilogram) | 2.2 SGD |
3. Transportation
An individual’s transportation cost varies widely based on the distance of travel and the mode of transportation used. However, you can save a lot of money if you live close to your workspace or educational institute.
| Fuel Cost/Transportation Service | Approximate Cost |
|---|---|
| One-way ticket (public transport) | 1.8 SGD |
| Monthly pass (public transport) | 120 SGD |
| Taxi 1 km normal tariff | 1SGD |
| Price of gasoline (as of 14th February) | 2.6 SGD per litre |
| Cabs (minimum cost) | 4 SGD |
4. Utilities
The cost of utilities adds up a significant figure to the cost of living in Singapore. These include the money spent on paying the electricity bills, mobile tariff, gas supply, etc. The table mentioned below highlights the approximate amount spent on the basic utilities –
| Utilities | Approximate Cost |
|---|---|
| Electricity, cooling, heating, water, garbage | 168 SGD |
| Local prepaid mobile tariff (1 min) | 0.2 SGD |
| Unlimited internet package | 45 SGD |
5. Entertainment and Leisure
Singapore offers its residents a lot of ways to chill and get relaxed after a long day of work or studies. This can be anything such as dining at a fine restaurant, going to your regular fitness club, a night at the pub or watching the latest movie.
| Area of Expense | Approximate Cost |
|---|---|
| 1 month gym membership | 135 SGD |
| 1 hour rent for a tennis court | 13 SGD |
| 1 seat at a cinema hall | 13 SGD |
| Meal in an affordable restaurant (1 person) | 15 SGD |
| Three-course meal in a mid-range restaurant | 80 SGD |
| McMeal at McDonald's | 8 SGD |
6. Childcare and Schooling
Most expats who have kids in Singapore prefer international schools. This might be because of their cultural background or the future they want for their kids. The monthly tuition fees for schooling and childcare play an important role in calculating the cost of living in Singapore for a family.
| Schools and Childcare | Approximate Cost |
|---|---|
| Preschool, private, full-day for 1 child | 1,290 SGD |
| International primary school for 1 child | 29,000 SGD |
How Expensive Is Singapore Compared to Other Top Cities in the World?
According to the Economist Intelligence Unit Worldwide Cost of Living 2021 report, Singapore stands second on the list of the costliest cities in the world. Furthermore, Singapore is the most expensive city in Asia. Singapore, the lion city, is 197.79% costlier than Bangalore.
Leading a life in Singapore is undoubtedly expensive. However, you can cut down on the cost of living in Singapore by managing the expenses wisely. These include changes in the lifestyle and standard of living.
Frequently Asked Questions
What is the approximate cost of living in Singapore for a bachelor?
The approximate cost of living in Singapore for a bachelor is 1,336 SGD per month.
Is living in Singapore costly?
Singapore is the second most expensive city in the world, according to the EIU Cost of Living 2021 survey.