Cost Of Living In Singapore: The Complete Guide

Providing an actual overview of living costs is very difficult because there are lots of factors available that significantly impact the cost of living. Some of the common living costs are rent, food, education, utility bills, transport, etc. In Singapore, the estimated monthly costs for a family of four are 3,576$ (without rent) and 4,850$ (with rent). For a single person, the estimated cost is 982$ (without rent) and 1,331$ (with rent).

Key Takeaways

• The Central Region of Singapore has the highest rental price compared to other regions
• The cheapest rentals in Singapore are located in the North and East regions of the country
• The central region of Singapore is best for easier access to international schools and major shopping malls
• The North region of Singapore is the least expensive because it is the under-developed and the least populated region in Singapore
• The North-East region consists of districts 19, 28, and 20 and it is connected to large shopping malls and the Central Region

Living In Singapore: An Overview

Singapore consists of one main island, 63 satellite islands and islets, and one outlying islet and just like any other country, Singapore’s lifestyle varies from one region to another. Some parts of Singapore are considered industrial districts while other parts are considered residential districts. Here are some key facts about living in Singapore – 

1. The Central Region of Singapore has the highest rental price mostly because of the city’s shopping malls and financial hubs.

2. The cheapest rentals in Singapore are located in the North and East regions of the country.

3. Singaporean government dissuade people from using private cars and to use public transport actively.

4. Groceries are relatively cheaper outside of malls, if you shop from malls then it will cost you more money.

5. If you are planning for dining out then hawker centers will be the best options instead of luxury restaurants and commercial fast-food restaurants.

Different Regions Of Singapore And Their Living Costs

Singapore has five regions. They are Central, North, East, North-East, and West. Living costs in these regions are not the same. What will be the living cost of Singapore depends on which region you want to live in. Let’s check them out!

1. Central Region

This is the most expensive region of Singapore and it covers districts 1 to 15, including City Hall, Marina Area, CBD, and Number 21 (Central West district). This place is best for easier access to international schools and major shopping malls. Among the 15 districts, districts 1 to 10 are known as the most expensive areas in the central region. Some of the popular places to live in the central region are – 

a. Holland Village

b. Orchard Road

c. Marina Bay

d. Tanjong Padar

These places are commercial places and residents tend to walk to and from work. Therefore, rents are very high in these places. For example, the approximate monthly rent of private property in Orchard Road is – 

1. Studio apartment: 4,000 SGD (2,900 USD)

2. Three-bedroom apartment: 7,000 SGD (5,040 USD)

2. North

This region of Singapore is the least expensive because it is the under-developed and the least populated region in Singapore. This region is close to the causeway that links Singapore and Malaysia. Woodlands district is the most popular district in the North region and it is also the largest international school in the country. In the Woodlands District, the rent is very low compared to the Central region. For example – 

1. Studio Apartment: 1,500SGD (1,080 USD)

2. Three-Bedroom Apartment – 2,600SGD (1,870 USD)

3. North-East

This region consists of districts 19 and 28 and 20 (Ang Mo Kio). Over the years, the Singaporean government has invested in developing residential areas to draw in families therefore, this region is popular with young couples. This region has a good connection to large shopping malls and the Central Region. The expected monthly rent for private properties in Ang Mo Kio is – 

1. Studio apartment: 1,700 SGD (1,220 USD)

2. Three-bedroom apartment: 2,700 SGD (1,950 USD)

4. East

This region is near to the airport and it is made up of the Upper East Coast (district number 16), the Far East (number 17), and the town of Tampines (number 18). This region is a growing business hub and it is known for having a great range of restaurants from different countries, and there are many parks and outdoor activities available. Living cost in this region is moderate compared to other regions of Singapore. Approximate monthly rent in Tampines for private property is – 

1. Studio apartment: 1,900 SGD (1,370 USD)

2. Three-bedroom apartment: 2,450 SGD (1,760 USD)

5. West

This is the most populous region of Singapore and the main reason is, it’s an industrial region. People working in industries like to stay here to reduce work commute. This region consists of districts 22, 23, and 24. Buona Vista is a very popular town of this region and here the monthly rent for private property are – 

1. Studio apartment: 2,700 SGD (1,950 USD)

2. Three-bedroom apartment: 4,000 SGD (2,900 USD)

Complete Details Of The Cost Of Living In Singapore

Restaurants

1. Meal, Inexpensive Restaurant 12.25 S$

2. Meal for 2 People, Mid-range Restaurant, Three-course 79.00 S$

3. McMeal at McDonald’s (or Equivalent Combo Meal) 8.25 S$

4. Domestic Beer (0.5-liter draught) 10.00 S$

5. Imported Beer (0.33-liter bottle) 12.00 S$

6. Cappuccino (regular) 5.62 S$

7. Coke/Pepsi (0.33-liter bottle) 1.89 S$

8. Water (0.33-liter bottle) 1.52 S$             

Markets

1. Milk (regular), (1 liter) 3.56 S$

2. Loaf of Fresh White Bread (500g) 2.41 S$

3. Rice (white), (1kg) 2.94 S$

4. Eggs (regular) (12) 3.28 S$

5. Local Cheese (1kg) 26.35 S$

6. Chicken Fillets (1kg) 11.49 S$

7. Beef Round (1kg) (or Equivalent Back Leg Red Meat) 24.70 S$

8. Apples (1kg) 4.65 S$

9. Banana (1kg) 2.78 S$

10. Oranges (1kg) 4.44 S$

11. Tomato (1kg) 2.68 S$

12. Potato (1kg) 2.49 S$

13. Onion (1kg) 2.59 S$

14. Lettuce (1 head) 2.16 S$

15. Water (1.5-liter bottle) 1.64 S$

16. Bottle of Wine (Mid-Range) 30.00 S$

17. Domestic Beer (0.5-liter bottle) 5.25 S$

18. Imported Beer (0.33-liter bottle) 5.76 S$

19. Cigarettes 20 Pack (Marlboro) 14.00 S$

Transportation

1. One-way Ticket (Local Transport) 1.83 S$

2. Monthly Pass (Regular Price) 120.00 S$

3. Taxi Start (Normal Tariff) 3.50 S$

4. Taxi 1km (Normal Tariff) 0.90 S$

5. Taxi 1hour Waiting (Normal Tariff) 18.00 S$

6. Gasoline (1 liter) 2.26 S$

7. Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 121,000.00 S$

8. Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 108,303.14 S$

Utilities (Monthly)

1. Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment 158.30 S$

2. 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.22 S$

3. Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 45.09 S$

Sports And Leisure

1. Fitness Club, Monthly Fee for 1 Adult 142.20 S$

2. Tennis Court Rent (1 Hour on Weekend) 12.69 S$

3. Cinema, International Release, 1 Seat 13.00 S$

Childcare

1. Preschool (or Kindergarten), Full Day, Private, monthly for 1 Child 1,408.63 S$

2. International Primary School, Yearly for 1 Child 29,933.33 S$

Clothing And Shoes

1. 1 Pair of Jeans (Levis 501 Or Similar) 85.64 S$

2. 1 Summer Dress in a Chain Store (Zara, H&M, …) 50.50 S$

3. 1 Pair of Nike Running Shoes (Mid-Range) 127.18 S$

4. 1 Pair of Men Leather Business Shoes 132.06 S$

Rent Per Month

1. Apartment (1 bedroom) in City Centre 2,807.89 S$

2. Apartment (1 bedroom) Outside of Centre 1,910.81 S$

3. Apartment (3 bedrooms) in City Centre 5,435.25 S$

4. Apartment (3 bedrooms) Outside of Centre 3,233.33 S$

Buy Apartment Price

1. Price per Square Meter to Buy Apartment in City Centre 25,628.16 S$

2. Price per Square Meter to Buy Apartment Outside of Centre 13,459.89 S$

Salaries And Financing

1. Average Monthly Net Salary (After Tax) 5,462.00 S$

2. Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 2.10

So, depending on your lifestyle, here are your potential costs per month – 

Type of Cost	Cheapskate	Mid-range	High-end
Accommodation (rental)	$700 (shared HDB flat)	$1,200 (shared condo unit)	$5,000 (entire apartment)
Food	$250 (cook at home/hawker centers)	$500 (hawker + midrange restaurants)	$2,000 (nice restaurants)
Transportation	$120 (public transport)	$40o (public transport + Grab/taxis)	$1,000 (car/Grab)
Mobile data	$20 (basic SIM-only plan)	$30 (more data)	$60 (data plan with frills)
Exercise	$0 (running, hiking, working out at home)	$80 (cheap gym)	$150 (nice gym)
Recreation	$100 (Netflix, movies, the occasional drink)	$300 (moderate drinking)	$1,500 (going to swanky clubs, dating, traveling)
Total	$1,190	$2,510	$9,710

Final Thoughts

Finally, living in Singapore will indeed cost you lots of money but there are many ways you can reduce the living cost. If you can control your lifestyle and reduce unnecessary expenses like expensive gym memberships, dining at nice restaurants, dating, etc. then you can save at least one-third of your living expenses in Singapore.                  

References: 1 https://www.numbeo.com/cost-of-living/in/Singapore
References: 2 https://sg.finance.yahoo.com/news/cost-living-singapore-2022-salary-000053101.html

Last Updated on November 2, 2022 by Magalie D.