Are you planning a move to Singapore? As one of the world's most prosperous and highly developed countries, Singapore offers a high quality of life, excellent education opportunities, and a diverse culture. However, it's also known for its high cost of living. In this article, we'll break down everything you need to know about the cost of living in Singapore.
Housing:
The biggest expense in Singapore is housing. Due to limited land availability, the cost of property is high, whether you choose to rent or buy. The average monthly rent for a one-bedroom apartment in the city center is around $2,200, while a three-bedroom apartment can cost upwards of $4,500 per month. If you're looking to buy, the average cost of a one-bedroom apartment in the city center is around $980,000.
Transportation:
Singapore has an efficient and modern public transportation system, which can help you save on transportation costs. A monthly pass for unlimited travel on buses and trains costs around $100. Taxis are also readily available, but can be expensive, with the starting fare being around $3 and an additional $0.30 for every 400 meters.
Food:
Singapore is known for its diverse and delicious food, but eating out can be costly. A meal at an inexpensive restaurant can cost around $10, while a three-course meal for two at a mid-range restaurant can cost around $60. If you're looking to save money, try eating at the local hawker centers, where you can find tasty dishes for as little as $3.
Education:
If you're planning to move to Singapore with your family, education costs may be a significant consideration. The cost of international schools can range from $20,000 to $40,000 per year. However, Singapore does have a strong public education system, and expat children are eligible to attend public schools for a nominal fee of around $130 per month.
Overall, the cost of living in Singapore may be high, but it offers a high standard of living and plenty of opportunities. By budgeting and making smart choices, you can manage your expenses and enjoy all that this vibrant city has to offer.
