What’s the Cost of Living in Singapore? [Updated 2024]
Singapore is considered to be one of the best places to live in and for a good reason. They're just so better at doing things than most countries, from public transportation to business ecosystems to innovations in several industries.
But it comes at a price, literally. Singapore does not hide the fact that the rent prices and the price of education are high. But it doesn't mean you have to keep up with the country's hefty price tags to be able to live comfortably and within your means.
A Short Overview of Living in Singapore
Just like most countries, Singapore lifestyle varies from one region to another. Some regions will contain the shopping districts, while others are home to the financial district. These factors and more can make or break your budget when living in Singapore.
The Central Region of Singapore is known to have the highest rent prices, mostly because it's home to the city's shopping malls and financial hubs.
The cheapest rentals in Singapore are located in the North and East regions of the country. Expats favour these regions, so they don't have to worry about purchasing a car to drive their kids to school.
Speaking of driving, buying a car in Singapore is anything but practical. On top of paying for market value, there are added local fees that pile on top of one another. This is to dissuade people from using private cars and to use public transport actively.
Unless you're shopping in malls, groceries are relatively cheaper because you access locally-sourced products and brands.
Hawker centres are more favoured for dining out than luxury restaurants and commercial fast-food restaurants.
The Most Expensive and Cheapest Regions to Live in Singapore
There are five regions in Singapore that you have to know about because these can strategically affect your daily budget.
The five regions are as follows: Central, North, East, North-East, and West. There are 28 districts divided between these five regions through their old zip code (postcode) system.
The split between these districts makes it easy for property developers and real estate agents to find properties and sell them.
There's no significant difference in the costs of living between these districts, but the rental prices can drive your monthly expenses up.
It's only fair that the first part of this article talks about how much rent costs in Singapore.
Editor’s Note: Rates updated according to HDB Q3 2023
Central Region - The Most Expensive
Central Region covers districts 1 to 15, including City Hall, Marina Area, CBD, and Number 21 (Central West district). The rent prices in this area are high because you're living close to major shopping malls and international schools.
Districts 1 to 10 are the most expensive places to live in and the neighbourhoods found in the Central Business District. Some of the most popular areas include:
Holland Village
Orchard Road
Marina Bay
Tanjong Padar
Commercial businesses are often here, so residents walk to and from work. A short taxi ride will also suffice if the weather's too hot.
Expected Monthly Rent For Private Properties in Orchard Road
Three-Bedroom Apartment - S$8,000(US$5800)
North Region - The Least Expensive
The North region of Singapore is the least populated region and mostly underdeveloped. It's close to the causeway that links Singapore and Malaysia. The MTR lines in the North Region strategically link it to the centre.
The North region's famous district is Woodlands district, home to the country's largest international school. This makes it very appealing to expats who want to move to Singapore.
Expected Monthly Rent for Private Properties in Woodlands District
Three-Bedroom Apartment - S$2,500 (US$1,880)
North-East
The North-East Region covers districts 19 and 28, and 20 (Ang Mo Kio). Young couples somewhat favour this region because the government invested in developing residential areas to draw in families.
The North-East Region also has extensive connections to large shopping malls and the Central Region.
Expected Monthly Rent for Private Properties in Ang Mo Kio
Three-Bedroom Apartment - S$2,700 (US$ 2,031)
East
The Eastern district is close to Changi airport and is home to districts 16 (Upper East Coast), 17 (The Far East), and 18 (Tampines).
The Eastern district is a fast-growing business hub and is home to international restaurants from different countries and access to outdoor activities and parks.
Expected Monthly Rent for Private Properties in Tampines
Three-Bedroom Apartment - S$2,880 (US$2,167)
West
The West region of Singapore is probably the most populated area simply because it's an industrial region. Many offices are based here, so a lot of residential areas have popped up to reduce work commute. Districts found here are number 22, 23, and 24.
Expected Monthly Rent for Private Properties in Buona Vista
Studio Apartment - S$2,700 (US$1,950)
Three-Bedroom Apartment - S$4,380 (US$3,190)
Utility Costs
Singapore's resources are limited, which makes your monthly utility bills relatively higher than the average. Westerners migrating to Singapore also experience some form of shock when they find out their bills are much higher throughout the summer than any other season.
This can be attributed to air conditioning being a must to survive the Singaporean summer.
Electricity, Water, and Gas
Your monthly bills for electricity, water, and gas range from S$200 to S$600, depending on the air conditioning usage. But this depends on the property. Your monthly bills might be significantly lower if your property has a gas supply.
Cable, Broadband Internet, and Mobile Phones Subscriptions
Mobile phone subscriptions in Singapore aren't exactly cheap, but they're not expensive either. You get the most bang for your buck as long as you find the best postpaid or prepaid plan for you. For postpaid subscriptions, you're looking at about S$35 to S$100 per month. This monthly subscription will also vary, depending on if your plan is sim-only or covers the phone as well.
Internet connections for residential areas are relatively cheaper in Singapore, and you're getting a lot of speed and data for what you're paying. For an average of S$50 a month, you're already getting at least 1GBPS with unlimited data (no download limit).
Cable subscriptions in Singapore aren't uncommon, and they're also relatively cheap. You can get started with a monthly subscription of $28 to get the primary cable channels, but if you want the international media and the HD channels, you're going to pay between $50 and $80 monthly.
Grocery Prices in Singapore
Fresh food and local goods are affordable in Singapore, especially when purchasing them at small grocery stores or local supermarkets. Local goods are significantly cheaper than imported Western goods, which is a given.
Average Grocery Prices in Singapore
Eggs (1 Dozen) - S$4.28
Milk (1 Carton) - S$4.02
Chicken (1kg) - S$13.15
Apples (500g or 1lb) - S$5.59
One bottle of beer - S$10 for domestic, S$12 for imported
One bottle of wine - S$32
You can check out a more comprehensive updated list on Numbeo.
Daily Expenses in Singapore
Daily expenses can vary depending on your lifestyle. These are the optional costs that could affect your budget here in Singapore.
Dining out is cheap in Singapore. Food stalls from hawker centers or food halls are less expensive than dining out in fancy restaurants or commercial fast-food restaurants. Singapore is known to have Michelin Star food stalls. The price difference between these food stalls and restaurants is quite significant. A cheap meal for two in a food stall might cost you S$25, whereas a meal at a mid-range restaurant can cost you S$60 to $80.
Monthly gym subscriptions can be quite expensive. Mid-range memberships average at about S$100.
Recreation expenses such as movie tickets, alcohol, and karaoke rooms aren't cheap too.
Movie tickets can average S$9 on weekdays and S$13 on weekends. IMAX and 3D can cost more
Alcohol consumption in bars can cost you $10 to $15 per bottle.
Karaoke rooms (minus the alcohol and food) can cost you $25 to $35 per person.
Editor's note: Accessibility and Prices may change due to Pandemic restrictions.
Cost of Education
Singapore does not shy away from the costs of its education. Their transparency doesn't hinder expats from enrolling their children in international schools.
Local Government Schools
Primary school in Singapore lasts for six years and four years for secondary school leading to the GCE O Level exams or five years for GCE N Level exams.
Singaporean and primary residents mostly attend these schools, but children of expats may be admitted to these schools.
The monthly cost of local schools in Singapore are as follows:
Primary Education
Free for Singaporean citizens
Singapore PR is S$205
Secondary Education
Singapore citizens are S$5
Singapore PR is S$380
International Schools
Children of expats can attend various international schools in Singapore. These have an annual range of S$12,000 to S$30,000, depending on the school.
Monthly costs for international schools in Singapore are as follows:
Primary Education
International students from ASEAN Countries is S$465
International students from Non-ASEAN Countries is S$465
Secondary Education
International students from ASEAN Countries is S$780
International students from Non-ASEAN Countries is S$1400
Editor's Note: Please consider other costs as well, such as bus fees, autonomous school fees, and miscellaneous fees.
You can check out this comprehensive guide on the costs of schooling in Singapore here.
Healthcare Costs
Singapore is known to have the best healthcare system in Asia. The World Health Organization also ranked the country's healthcare system as sixth-best in the world.
Their healthcare system boasts state-of-the-art medical technology combined with cost-effective medical solutions with high success rates. Their healthcare system follows strict government-mandated guidelines for excellence, transparency, cleanliness, and safety.
But the downside is that there's no government mandate for employers to provide insurance to Singapore employees. As a result, health insurance benefits are not made available by employers in Singapore. So if your compensation does not include medical insurance, then this might be a small issue for you. But don't fret, as even without insurance, the healthcare costs aren't exactly unreasonable.
General practitioner consultation fees averages at S$40
Blood work and x-ray will cost you S$50 and up to S$80
Specialists' consultation fees will range between S$75 and S$125 per consultation
Ward fees in hospitals can go as cheap as S$30 for the non-air-conditioned ones
Private lounges can cost you S$3,000 at least.
Health insurance in Singapore is reasonable, as well. Policies that cover surgery and hospitalization can cost you S$2,000 minimum yearly.
Travel and Transportation Cost
Singapore is known for its very effective public transportation system, so much so that the government makes you jump through hoops for owning your car.
The average one-way ticket for buses and MRT is about S$2.00 per person. Back and forth, you're looking at S$4.00 per day. At 20 workdays, you're spending an average of S$80 to commute to work.
Taxi Service
Taxi services in Singapore are also very efficient. Taxi drivers in Singapore are also eager to drive through the shortest distances.
The basic fee right now is S$3.90 with a kilometer price of S$1.00 as of this writing. Other costs are also added on top of the taxi fares. These fees range from location-based surcharges, specifically in the CBD area, to airport fees.
Owning a Car in Singapore
Unlike most countries, Singapore does not make it easy for expats to own a car. The costs are incredibly high because there are additional costs on top of the car's market value. Taxes and fees make it more expensive, not to mention other requirements such as certificate of entitlement that you need to accomplish.
How much are you exactly spending? Our article on how to own a car in Singapore will shed some light on what your budget should be.
Closing
The table below should give you an idea of just how much it costs to live in Singapore comfortably. And by comfortably, we mean just enough so that your needs and essentials are met with some luxury afforded in between.
Editor's note: the numbers provided are based on the lowest and highest costs for these categories. Monthly figures should be taken with a grain of salt due to other expenses not covered here (i.e. costs of education, insurance policies, and other monthly payments not mentioned).
If you want a more accurate itemized list of living costs in Singapore, Numbeo has the updated prices.
As we discussed earlier, Singapore does not hide the fact that it's pricey to live here, but with what the country has to offer, you're getting what you're paying for.
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