Cost of Living in Singapore
Singapore is a financial hub in the center of Southeast Asia. It is a small island city-state that is surrounded by countries that have per capita incomes that does not approach Singapore’s. Basically, Singapore is an expensive place to live compared to the rest of the region. Before relocating to Singapore, it is important to realize that the cost of living in Singapore is high in every regard compared to its neighbours, but there are a few saving graces. One such saving grace is that the salaries mirror the costs, and people generally have a high standard of living. The following is a review of some of the specifics of the cost of living in Singapore, in Singaporean dollars, which for one SGD dollar there are 0.80 USD.
At a cheap restaurant you’re likely to spend around 10 dollars for a meal. Mid-range establishments will tend to run you up 25 dollars or more. A local beer is 6 dollars, and a soda is 1.50. Food is not the most expensive item when we consider the cost of living in Singapore. A kilo of potatoes and a kilo of rice cost the same at 3 dollars.
The transportation in Singapore is also not very expensive on a global scale. Again, in the region the cost of living here outstrips neighbors like Indonesia and Malaysia by far, but on an international index, 1.80 for a one-way bus ticket within the city is not overly expensive.
You can find clothes for cheap just across the border, which is the best plan of action if your wardrobe is lacking. Cost of living typically includes clothes, but retail outlets will clean you out in Singapore. Leisure and recreational activities like going to the movies and to sports games cost about average on a global scale. Cost of living typically doesn’t include travel, but it is worth mentioning that since Singapore is so close to Thailand, Malaysia and Indonesia, a trip abroad is not expensive.
Where the cost of living in Singapore starts to climb well above international averages is in the amount you’ll pay for your rent. Typically, Singapore’s single-bedroom apartments rank among the more expensive in the world, while multiple-room apartments are for some reason more affordable. The reason rents are so high has to do with the fact that Singapore has a very limited amount of space, and real estate is a valuable commodity in the domestic market. You can visit Numbeo, this website has collected detailed information about the cost of living in Singapore.