Is Living In Singapore Expensive?

Singapore is always seen at the top of those Cost-of-living surveys. Is it costly to live in Singapore? It also depends on your needs and your way of living.

If you are a young working adult and thinking of accepting a job offer in Singapore or if you live with your parents and now you want to live alone, then you can go through this article this will be helping you to know all the expenses of living in Singapore.

Cost of buying a house in Singapore

The most significant expense in Singapore is buying a house. If you are going to buy a house, this could be the most expensive. Whether you are thinking of buying or renting a house, you should need a budget of at least $700 to $1,500 per month for renting and $1,500 to $4,500 a month in loan installment if you are living in Singapore or you are eligible to buy a house according to HDB. Then you have to pay a minimum 10% down payment for an HDB flat and a 20% down payment for a private home and take out a 25-year loan.

Cost of renting a house in Singapore

If you live alone in Singapore and need a rental house, you can rent a room in a shared HDB flat, i.e., a public housing or condo apartment with shared bathrooms. Then this will be going to cost around $700 to $2,000 per month. If you don’t want to share, you can get a studio or one-bedroom unit in an HDB flat or condominium, and This will cost about $1,500 to $4,500 per month.

Cost of daily expenses in Singapore

Daily expenses also depend on your lifestyle. There are many things that you need in your daily life. Some of these expenses are:

Grocery: Groceries items are more expensive in Singapore as many products are imported to Singapore, such as Milk, non-tropical fruits, non-Asian products like cheese. If you know cooking and cooking your food yourself, you will spend $200 per month on this.

Food: If you are not cooking your food yourself, if you are going to have a meal outside in a restaurant, the cost is $3 to $4 without drinks at a suburban hawker center. But when it comes to dining, this will be costlier, around $20 to $30 at a mid-range restaurant.

Refreshment: If you are getting bored and thinking of watching a movie, then it would cost around $9 on regular days, but on weekends it is $13.

Cost of transportation in Singapore

The transportation cost depends on how far you need to travel daily and on which mode you travel. If you have a house close to your workplace, you are lucky, and you will spend less on transport. If you do not have your car in Singapore, you can travel on a combination of public transport such as buses and MRT and taxis, and this will cost around $100 to $120 per month, which seems pretty much affordable.