Rental Prices: The cost of renting in Singapore can differ widely. For a one-bedroom apartment in the city center, the monthly rent can range from SGD 3,000 to SGD 5,000. In contrast, the same type of apartment outside the city center could cost between SGD 2,000 and SGD 3,500. Family-sized accommodations, like three-bedroom apartments, can cost anywhere from SGD 4,000 to SGD 10,000 per month in central areas and SGD 3,000 to SGD 6,000 in other areas.

Buying Property: Purchasing property in Singapore is also costly. The price per square meter to buy an apartment in the city center is around SGD 20,000 to SGD 30,000, while outside the city center it ranges from SGD 9,000 to SGD 15,000. Additional costs like stamp duty, property taxes, and agent fees can add substantially to the overall cost.

Transportation Expenses

Singapore boasts an efficient public transport system that includes buses, trains (MRT), and taxis. The cost of transportation is relatively affordable compared to other aspects of living in Singapore.

Public Transport: A single trip on the MRT or bus costs between SGD 0.80 and SGD 2.50, depending on the distance. Monthly travel passes are available for around SGD 120, providing unlimited rides on buses and trains.

Taxis and Ride-Sharing: Taxis have a starting fare of SGD 3 to SGD 5, and the meter increases based on distance traveled. Ride-sharing services like Grab and Gojek typically offer competitive rates but can be more expensive during peak hours or in less accessible areas.

Food and Groceries

Food is an essential yet variable component of the cost of living in Singapore. Dining out frequently can be expensive, but there are options for every budget.

Eating Out: A meal at an inexpensive restaurant costs around SGD 10 to SGD 20 per person, whereas a three-course meal at a mid-range restaurant can set you back SGD 50 to SGD 100 per person. Fine dining restaurants can charge significantly more.

Groceries: Weekly grocery shopping for one person can range from SGD 50 to SGD 100, depending on dietary habits and choice of supermarket. Local markets can offer fresher produce at lower prices compared to chain supermarkets.

Healthcare Costs

Singapore’s healthcare system is renowned for its high quality, but it also comes with a high price tag, especially for expatriates who are not covered under the compulsory health insurance scheme.

Public Healthcare: While Singaporeans enjoy subsidized rates, expatriates are charged at a higher rate. Consultation fees at public hospitals can start from SGD 30 to SGD 50, excluding medication and other procedures.

Private Healthcare: Private healthcare is significantly more expensive, with consultation fees starting from SGD 100. Comprehensive health insurance is highly recommended for expatriates, which can cost upwards of SGD 200 per month.

Utilities and Internet

Monthly utility bills in Singapore can vary based on usage and the size of the accommodation.

Utilities: For a standard 85m² apartment, utility bills (electricity, heating, cooling, water, garbage) can range from SGD 150 to SGD 250 per month. Air conditioning, which is essential in Singapore’s tropical climate, can contribute heavily to electricity costs.

Internet: A broadband internet connection (60 Mbps or more, unlimited data, cable/ADSL) typically costs around SGD 40 to SGD 60 per month.

Education Expenses

For families moving to Singapore, education is a significant aspect of the cost of living, especially if opting for international schools.

International Schools: Annual tuition fees for international schools vary widely but can range from SGD 20,000 to SGD 50,000. Additional costs for uniforms, books, and extracurricular activities can add thousands to the annual cost.

Local Schools: Expatriate children are also eligible to attend local schools at higher fees than locals. These fees can range from SGD 500 to SGD 1,000 per month, making it a more affordable option compared to international schools.

Leisure and Entertainment

Singapore offers a wide range of leisure and entertainment options, but spending in this category can add up quickly.

Leisure Activities: Movie tickets cost around SGD 10 to SGD 14, while a membership at a fitness club can cost SGD 100 to SGD 150 per month. Attractions like Universal Studios, the Singapore Zoo, and the Night Safari have entrance fees ranging from SGD 30 to SGD 80.

Alcohol and Nightlife: Alcohol is heavily taxed in Singapore, making it quite expensive. A pint of beer in a restaurant can cost between SGD 10 and SGD 15, and cocktails at a nightclub can cost SGD 20 or more.

In conclusion, while Singapore offers a high quality of life, it is also one of the most expensive cities in the world to live in. Careful budgeting and understanding of where costs can be managed are essential for anyone considering moving to or living in Singapore.