Cost of living and prices in Singapore, prices of food, rent, shopping, etc. 🇸🇬
Updated Jul 2023
Singapore, the bustling city-state in Southeast Asia, is known for its vibrant culture, delicious cuisine, and stunning architecture. It is a leading global financial center and a top destination for tourism and expats.
Despite its small size, Singapore boasts a high cost of living due to its strong economy and high standard of living. The city offers excellent healthcare, education, and public transportation systems, making it an excellent place to live for those with the means to do so.
However, for budget conscious individuals, the high cost of living may be a challenge. Accommodation, food, and entertainment can all be expensive, especially in the city center. Those looking to save money may need to consider living in the suburbs or opting for more budget-friendly options.
Cost of Living Estimate in Singapore
You can calculate cost of living in Singapore by changing quantity using input near each good or service. Resulting total will appear in a floating box in the bottom of your screen.
Singapore is known for its diverse range of food options available throughout the city-state. Hawker centers are a popular option among locals and tourists alike, offering an array of delicious and affordable street food. Some of the must-try dishes include chicken rice, laksa, and chili crab. For those looking for a fine-dining experience, there are plenty of options available as well. Singapore boasts a number of Michelin-starred restaurants known for their exceptional cuisine and impeccable service.
Vibrant and diverse neighborhoods such as Chinatown and Little India offer a unique food experience, with a wide range of affordable and authentic options. Visitors can immerse themselves in the local food culture, trying new dishes and experiencing the hustle and bustle of traditional wet markets. For those looking for international cuisine, there are plenty of options available as well, ranging from Japanese to Italian. Overall, Singapore's food scene is one of the most exciting and diverse in the world, making it a must-visit destination for food lovers.
Market prices in Singapore reflect the country's position as a financial hub and regional trade center. As a highly developed country with a strong economy, cost of living in Singapore is relatively high. However, this is balanced by a high standard of living, excellent infrastructure, and a diverse mix of cultures.
When it comes to food, Singapore is known for its hawker centers, which offer a variety of affordable and delicious local cuisine. On the other hand, luxury goods and imported products can come with a higher price tag. In general, market prices in Singapore follow global pricing trends, but the country's position in the global market and quality of offerings can affect the cost. Nevertheless, Singapore remains an attractive destination for tourists and businesses alike, offering opportunities for investment and growth.
One of the most efficient modes of transportation in Singapore is the Mass Rapid Transit (MRT) system. With over 100 stations spanning across five main lines, it’s a well-connected and economical option for getting around the city. The MRT is clean and convenient, and can take you to various parts of Singapore quickly and easily. Additionally, you can use the MRT to get to the airport via the Changi Airport line, which is extremely convenient for those traveling to and from the city.
If you want to explore Singapore at your own pace and perhaps venture off the beaten track, then cycling might be a fun option for you. The city has invested heavily in constructing cycling paths and bike rental services, and you can easily rent bikes for a day or more from various locations around Singapore. Cycling is an eco-friendly option that allows you to see the city at a slower pace and explore areas that may be off limits to vehicles. Additionally, many of the major tourist attractions have bike parking facilities, making it easy to park and explore.
Utilities Per Month prices
Singapore, known as one of the most expensive cities in the world, also has a high cost of living when it comes to utilities. As an island nation with limited natural resources, Singapore has to import most of its energy, which drives up the prices for consumers. Electricity bills, water bills, and gas bills can all add up quickly, especially for those who use air conditioning to combat the year-round heat. However, the government of Singapore has implemented initiatives to encourage consumers to be mindful of their energy consumption and to promote the use of renewable energy sources.
Despite the high cost of utilities in Singapore, many residents and tourists still find ways to manage their expenses. For example, some people choose to live in smaller apartments that are more energy-efficient, while others opt for public transportation or bicycles to reduce their gas expenses. Additionally, many restaurants and food stalls in Singapore offer economy rice dishes, which consist of a serving of rice and a few side dishes for a very affordable price. Visitors to Singapore should be aware of the high utilities costs but should not let that deter them from experiencing all that this vibrant city-state has to offer.
Sports And Leisure prices
Singapore is a city-state that offers a wide range of sports and leisure activities for people of all ages and interests. If you want to stay active during your trip, there are plenty of great options to choose from. For example, you can go for a jog along the waterfront of Marina Bay, take a yoga class in one of the many parks, practice your swing at a golf course, or try your hand at rock climbing at one of the indoor facilities. Additionally, Singapore has a vibrant sports culture, and you can easily catch a game or attend a tournament for popular sports like football, tennis, and basketball.
When it comes to leisure activities, Singapore is famous for its shopping and food scene. There are countless malls and markets where you can shop for everything from designer clothes to local souvenirs. After a long day of shopping, head to one of the many restaurants or hawker centers and enjoy some of the best cuisine in Asia. Singapore is also home to a number of world-class attractions, like Sentosa Island, the Singapore Flyer, and Gardens by the Bay. If you're looking for more cultural experiences, check out the National Museum or the Asian Civilisations Museum, which showcase Singapore's diverse history and heritage. No matter what you choose to do, there's never a dull moment in this vibrant and exciting city.
Salaries And Financing prices
Salaries in Singapore tend to be among the highest in Southeast Asia, with professionals in fields such as finance and technology earning significant amounts. However, the cost of living can also be high in Singapore, meaning that much of one's salary may go towards expenses such as accommodation and transportation. Nevertheless, there are opportunities available for those seeking to make a comfortable living in the city-state.
Financing in Singapore is often quite accessible, with numerous banks and financial institutions operating within the country. As a global financial center, Singapore is well-equipped to handle a variety of financial needs, whether it be personal loans, investment opportunities, or wealth management services. Various government programs and initiatives are also in place to help individuals and businesses with their financing needs, making it a relatively straightforward process to get the financial assistance that one may require.
Childcare prices in Singapore are significantly higher than in many other countries. The cost of raising a child in Singapore can be a significant chunk of a family's monthly income, with childcare being one of the biggest expenses. For parents looking to provide a quality education for their children, the cost can be even higher. Both schools and kindergartens in Singapore charge high fees, reflecting the high standard of education on offer. Despite the high costs, many families still prioritize sending their children to the best schools and kindergartens they can afford, as education is highly valued in Singapore.
Kindergartens in Singapore are widely regarded as some of the best in the world, with a focus on developing children's communication, social, and problem-solving skills from an early age. Parents can choose from a wide range of options, including international and local kindergartens, with each offering a different approach to early childhood education. Schools in Singapore provide a similarly high standard of education, with a particularly strong emphasis on science, technology, engineering, and mathematics (STEM) subjects. As such, many schools invest in state-of-the-art facilities and resources to support their STEM programs, further increasing the cost of education.
Clothing And Shoes prices
If you're in the market for stylish clothing and trendy shoes, Singapore has plenty of options for you. From high-end boutiques to local street markets, there's something for every taste and budget. You can find everything from designer labels to affordable fast fashion, and there's a wide range of quality levels to choose from as well.
Singapore is known for its shopping scene, and you can find clothing and shoes just about anywhere you look. Orchard Road is one of the main shopping districts, with a mix of high-end malls and boutique shops. You can also check out the street markets in areas like Bugis and Chinatown for a more affordable and unique shopping experience. Whether you're looking for a high fashion statement piece or everyday wear, there's something for everyone in Singapore.
Rent Per Month prices
Short term rental options in Singapore are abundant. These include hotels, serviced apartments, and Airbnb rentals. Prices for short stays can vary greatly depending on the location, type of accommodation, and time of year. Singapore is a popular tourist destination, particularly for those traveling on business, so it is recommended that you book well in advance to secure the best rates and availability. Some popular areas for short-term rentals in Singapore include the central business district, Orchard Road, and Marina Bay.
If you're looking for a longer stay in Singapore, serviced apartments are a great option. These fully furnished apartments offer more space than traditional hotel rooms and typically have a kitchen and living area. They are also generally more affordable than hotels for stays of a few weeks or months. Signing a lease for a rental apartment in Singapore can be expensive and can require a minimum lease term of one year, so serviced apartments are a flexible and cost-effective solution for those needing a place to stay for an extended period of time. Many serviced apartments in Singapore also offer additional amenities such as swimming pools, fitness centers, and 24-hour security.
Buy Apartment prices
Singapore's real estate market offers a variety of buying options for both locals and non-residents. From luxurious condominiums with world-class amenities to landed properties with private gardens, there is something for everyone. As a buyer, you can choose from newly launched projects, resale properties, or even opt for the government's Build-To-Order (BTO) scheme for affordable housing. Each option comes with its own advantages and disadvantages, so it's important to consider your needs and budget before making a decision.
When it comes to prices, Singapore's real estate market is known for its premium prices. The city-state is one of the most expensive places to live in Southeast Asia, and this reflects in the property prices as well. However, the market has seen a decline in prices in recent years, making it a good time for buyers looking to invest in a property or upgrade their living space. As always, the location, type, and age of the property play a significant role in deciding its price, so be prepared to do your research and negotiate with the seller or developer.