Cost of living in Singapore: Your guide

3 minute read

Singapore is a fantastic expat destination, offering an exciting cultural mix, great career opportunities, and world class amenities. The standard of living is high - but life in Singapore doesn’t come cheap. That said, if you’re a student or living on a fixed income, you can make some simple lifestyle changes to make the most of your money. By shopping, eating and enjoying leisure time like a local, you can cut costs and have a more authentic experience.

Whether you’re retiring, temporarily relocating, or moving to Singapore for good, it’s helpful to have a picture of what life there will cost as an expat. Here’s a quick guide.

How expensive is Singapore in comparison to the UK, EU, USA and Australia?

The official currency in Singapore is the Singapore dollar which is written as SGD on currency exchanges, and S$ in shops and restaurants.

You can find out the exact value of your money in SGD, using an online currency converter - but here’s a rough guide to what it is at this moment:

  • $1000 = S$1390
  • £1000 = S$1750
  • €1000 = S$1550
  • AU$1000 = S$1050
Comparing basic cost of living1 bedroom flat in city centre (monthly rent)Lunch for 2 (3 courses, mid range restaurant)Transportation (monthly pass)
Singapore2,812 SGD60 SGD100 SGD
London, UK2,970 SGD97 SGD230 SGD
New York City, USA4,140 SGD104 SGD163 SGD
Berlin, Germany1,144 SGD62 SGD125 SGD
Sydney, Australia2,720 SGD84 SGD168 SGD

One major factor that adds expense for expats in Singapore is the cost of converting cash to SGD from your home currency. Even if your bank says it offers fee-free money exchange, you can be sure its cut is rolled up in the exchange rate it uses. To get the best deal, you should use an exchange service like Wise which gives you the same rate you find on Google. With a quick service, and low transparent fees to send money to Singapore, this can be a much better deal than relying on your bank.

What are the general living expenses for Singapore? How much can you get by on?

One of the major factors determining how expensive life in Singapore will be, is where you choose to live. Rental prices are fairly high, but move outside of the city center and you can rent in Singapore for much less.

Living expenses in Singapore (excluding rent)Average cost
Single person, per month1,155 SGD
Single person, per year13,860 SGD
University student, per month703 SGD
4 person family, per month4,209 SGD
4 person family, per year50,508 SGD

What’s an average salary in Singapore?

The salaries in Singapore are fairly high in general, and for skilled and in-demand professions, they’re extremely good. As an example, chefs and waiters get paid more than you might expect, as both are seen needed professions. In fact, Singapore has the 14th highest paid waiter positions in the world. It’s also a great place if you’re looking for a job as an attorney or lecturer.

Check out what you could earn in Singapore here:

Salary averages for SingaporeAverage salary
Cashier20,017 SGD
Copywriter50,298 SGD
Financial analyst80,179 SGD
Graphic designer37,742 SGD
Mobile developer74,809 SGD
Product manager79,395 SGD
Receptionist25,993 SGD
Software engineer68,002 SGD
Teacher53,099 SGD
Web developer52,667 SGD

How expensive is housing and accommodation in Singapore?

Singapore has a very well-developed rental sector, although the pressure on space in the central districts means that flats, apartments and condos are typically fairly small. Prices in the city centre and in exclusive expat areas outside of the centre are very steep - but you can still get more reasonably priced places if you don’t mind a bit of a commute.

See what it might cost you here:

Renting in SingaporeAverage monthly cost
One bedroom flat/apartment (city centre)2,812 SGD
One bedroom flat/apartment (outside of city centre)1,912 SGD
Three bedroom family home (city centre)5,282 SGD
Three bedroom family home (outside of city centre)3,101 SGD
Internet42 SGD
Utilities (gas, electric and water for a 85m2 apartment)157 SGD

What about healthcare and dental costs in Singapore?

The healthcare system in Singapore is very strong, in both the state and private sector. Expats who have permanent residency in Singapore might be eligible for state-backed health insurance, which pays some of the costs of medical care. However, it’s usually advisable to take private health insurance to make sure you’re covered for all eventualities.

Healthcare serviceAverage cost to you
Family doctor check-up (no insurance)47 SGD
Cold medicine for 6 days8 SGD
Antibiotic prescription (no insurance)19 SGD

How much is travel and transport in Singapore?

Parts of Singapore are congested, so hopping on public transportation might be your best bet if you have a daily commute. However, with a strong transport system, getting around shouldn’t cause you any problems. You can choose between the MRT (Mass Rapid Transit) routes, and buses, which cover the city state well.

Transportation and vehicle prices for SingaporeAverage cost
Gasoline (1 litre / 0.25 gallon)2.05 SGD
Monthly bus/transport pass100 SGD
Bus ticket, single use1.8 SGD
Taxi tariff, 8km/5mile journey12 SGD
Toyota Corolla, new112,092 SGD
VW Golf, new123,432 SGD

How much does education cost in Singapore?

Private education in Singapore is highly valued, and comes at a cost. A year’s high school tuition in UWC South East Asia, for example, could run up to nearly 45,000 SGD - almost 50% higher than the cost of studying at Singapore’s national university. Unsurprisingly, standards are high - the Singaporean education system is regularly ranked as one of the best in the world.

SchoolAverage cost
Preschool / kindergarten (monthly fee)952 SGD
Private school for lower grades (annual)28,417 SGD
National University of Singapore tuition (undergraduate, business, one year)31,800 SGD
Singapore Management University tuition (Bachelor programme, one year)24,400 SGD (for international students - discounts apply for residents and citizens)

Singapore is an exciting place to be, whether you’re considering a permanent move, or just looking to spend a year or two exploring somewhere new. The cost of living may be a little high, but the experiences you can get here are truly memorable.

Good luck with your new life in Singapore!

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