How much is the living cost in Singapore?

Living in Singapore can be an expensive endeavor, but the exact cost can vary widely depending on your lifestyle, preferences, and the type of accommodation you choose. With its bustling city life, high standard of living, and diverse cultural offerings, it’s important to have a clear understanding of the costs involved before making the move. In this article, we will explore the various aspects of living costs in Singapore, including housing, transportation, food, and other essential expenses.

Housing Costs in Singapore

One of the most significant expenses in Singapore is housing. The cost of living in Singapore can be particularly high due to the limited land area and high demand for housing. Rental prices vary greatly depending on the location, type of accommodation, and the size of the unit. For a typical one-bedroom apartment in the central areas, you can expect to pay around SGD 2,000 to SGD 3,000 per month. If you opt for a smaller studio apartment or a shared room, the cost can be lower, ranging from SGD 1,000 to SGD 1,500 per month.

For those who prefer to buy a property, prices can be even higher. The average price for a residential property in Singapore is around SGD 1.5 million to SGD 2 million. However, it’s important to note that property prices can vary significantly depending on the location, age of the property, and the amenities offered.

Transportation Costs in Singapore

Transportation in Singapore is generally affordable, with an extensive and efficient public transportation system. The cost of using public transport, such as buses and the Mass Rapid Transit (MRT) system, is quite reasonable. A monthly bus and MRT pass costs around SGD 100 to SGD 150, depending on the zone you live in. For those who prefer to drive, the cost of owning a car includes road tax, insurance, parking fees, and fuel, which can range from SGD 500 to SGD 1,000 per month.

If you’re a student or a senior citizen, you may be eligible for a concessionary fare on public transport, which can help reduce your expenses.

Food Costs in Singapore

Food is another essential expense in Singapore. The cost of dining out can vary widely, with budget options available in hawker centers and food courts, as well as upscale restaurants. A meal at a hawker center or food court can cost as little as SGD 3 to SGD 5, while a meal at a mid-range restaurant can range from SGD 10 to SGD 20. For those who prefer to cook at home, the cost of groceries can be quite affordable, with a monthly grocery budget of SGD 200 to SGD 400 for a single person.

If you enjoy dining out frequently or eating at restaurants, your food expenses can be higher. However, it’s possible to maintain a reasonable budget by being mindful of your choices and seeking out value-for-money options.

Other Essential Expenses

In addition to housing, transportation, and food, there are other essential expenses to consider when living in Singapore. These include utilities (electricity, water, and gas), internet, mobile phone plans, and personal care products. The cost of utilities can vary depending on the size of your accommodation and your usage habits, but a rough estimate for utilities can be around SGD 100 to SGD 200 per month. Internet and mobile phone plans can range from SGD 20 to SGD 50 per month, while personal care products can cost around SGD 50 to SGD 100 per month.

In conclusion, the living cost in Singapore can be quite high, especially when it comes to housing. However, with careful planning and budgeting, it is possible to manage your expenses and enjoy a comfortable lifestyle in this vibrant city-state.