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The Cost Of Living In Singapore 2020

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Is Singapore really one of the most expensive places in the world to live? We break it down for you here.

Topping the lists of 'Most Expensive Place To Live' year on year, living in the Little Red Dot certainly isn't cheap, but is it really that expensive? Of course it all depends on your lifestyle and tastes so from budget friendly to flash with the cash, we take a look at prices in Singapore.

Education

Those little kids certainly don't come cheap, no matter how you do it. Firstly there's the birth part which, if you go privately, will set you back a pretty penny - around $9,000 for a normal delivery and $13,000 for a cesarean. Then there's the monthly doctors visits pre birth which are around $1,000 a go. On the other hand, having a baby in a public hospital will cost you about $5,000 for everything and that's not bad compared to worldwide costs. 

Just recovered from the birth and in a couple of years it's time to think about school. Send them to an International school and you can look at annual fees of around $40,000 but local schools will cost between $2,000 and $5,000 per year, depending on residential status. All in all, this pretty much compares with tuition fees in the US and the UK.

 

Housing

Well, if there is one thing we all know for sure, it's that living in a small city like Singapore just is not cheap but how much you spend, is exactly up to you. A one-bedroom condo will set you back upwards of around $1,000 to $3,000 depending on area, while older condos along the likes of River Valley Road can be snapped up for around $5,000 to $7,000 for a 3-bedroom. Want a house? Well, you are going to have to pay for the space with even the most skilled realtor struggling to find you something under $7,000. And when it comes to houses, just drive around the Island to realise the drastic difference in offerings, from small and old to mega-mansions, Singapore really has it all. 

Eating and Drinking

Ah, eating, the national pastime of Singapore. Being a nation of foodies, means you can eat quite cheaply here. Stick to hawker food and you can easily have change out of $10 but International and more fine cuisine will cost you. Stick to the restaurants in the malls and out of town and you can look at around $100 a head with wine but for the fancy offerings like Odette's and No Menu expect to pay $300 ++ with wine. Internationally we concede that Singapore really is one of the most expensive cities to dine in.

Getting out and about

Aha, this is one category that Singapore doesn't make the naughty list on due to the fact that our taxi's and public transport services are way more affordable than in Europe and the US. But let's not celebrate just yet thanks to the fact that actually buying a car is eye-wateringly expensive and at last calculation, the same vehicle will cost you three times the amount here vs Europe. Ouch.

Living etc

Ask any expat what the most surprising thing about moving to Singapore was and they will tell you it was the price of groceries. Due to the fact that a lot of daily items including milk and cheese are imported, they will cost you significantly more than in other parts of the world.

Mobile packages are on average similar to the rest of the world, coming out at around $80 for a data and roaming package.

All in all, fitness packages will cost you anywhere from $50 a month to $700 for personal training - this really is one where you choose how much you pay and most definitely wont make Singapore top the expensive lists. 

Thanks to the likes of Scoot and Silk Air, we really are lucky when it comes to frill-free, inexpensive travel and with so many wonderful places on our doorstop, you can take full advantage without blowing the budget. 


Written by
Poppy covers a wide range of topics at Billionaire, having spent the past 13 years at companies including Singapore Tatler, Her World Plus and Harpers Bazaar UK. She has a passion for fashion, jewellery and travel as well as an avaricious fascination with crime novels. Follow her at poppypskinner on Instagram. 

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