Singapore always ranks high in cost of living surveys. But how expensive is life here really? If you are a young working adult or potential expat If you’re thinking about taking up that job offer in Singapore, you’re probably wondering how much it’s “reasonable” for someone in your age group to spend each month.

Of course, the answer depends a lot on your lifestyle and values. Ask the guy who is happy living with his parents at 40 and who rarely leaves the house for anything other than work, and you’ll get a different answer than if you ask the upstart who believes you need the flashy car and apartment to show you’ve “made it” in life.

In compiling this overview of the Cost of living in Singaporewe have chosen to cover a range of options (from budget to upscale) for a middle-class lifestyle. All costs are quoted in Singapore dollars.

Housing costs

If you are moving here from another country or want to leave your parents’ house, your biggest expense by far is Housingwhether you rent or buy a house.

If you are renting, you should budget at least $700 to $1,500 per month, and $1,500 to $3,000 per month if you are from Singapore/PR and want to buy a house and are eligible to purchase HDB property.

Renting in Singapore

Most expats rent an apartment in Singapore. But be careful – it’s not cheap.

If you are single and only want to rent a room in a HDB shared flat (public housing) or a condominium (private) with shared bathroom, expect to pay about 700 to 2,000 US dollars every month.

You don’t want to share? That costs you. It costs about $1,500 to $4,500 to rent a studio apartment or one-bedroom flat in a HDB flat or condominium.

The big cost differences depend on the type of property – HDB flats are cheaper but have basic amenities, condos are more expensive but have fancier features and sometimes have gyms/swimming pools.

Another factor is the distance from the city center – the more central, the more expensive it is. However, Singapore’s public transport system is not bad, so you can save some money by renting an apartment on the outskirts. One plus: neighborhoods outside the city center have more character and cheaper food options.

As a renter, you should be aware that some landlords will not allow you to cook if they live in the same apartment as you. This means you are forced to eat out or order food every day. If you are allergic to rules but cannot afford to live alone, look for an apartment that is only occupied by other tenants.

Buying a house

If you are a Singaporean or PR citizen and want to buy a house, you will need to buy either an HDB flat (you must apply jointly with your fiancé/fiancee and be willing to get married by the time you get the keys) or private property.

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New HDB properties are heavily subsidised and you are eligible for grants calculated according to your income level. For second-hand properties, prices can be quite high in the more central areas.

And if you are thinking about purchasing a private property, you must be prepared to take out a large home equity loan unless you have a high income.

Generally, when reselling a property, you can expect prices ranging from $300,000 for a 3-room HDB flat to several million dollars for private property. A condominium costs over $1 million on average.

Assuming you pay at least 10% down payment for a HDB Lat or 20% down payment for a private house and take out a 25-year loan, you can expect to pay $1,500 to $4,500 per month in loan rates for homes in this price range.

Transport costs

As with anything else in life, your monthly transport costs can vary greatly depending on how far you have to travel each day and the mode of transport you use. If you’re lucky enough to live close to your workplace and the city centre, you’ll spend less on transport than someone who lives in Woodlands and has to commute to the CBD daily.

Unless you have a significant disposable income, buying a car in Singapore is not a good idea. Cars are notoriously expensive here and will cost you an additional $1,000 to $2,000 per month (car loan payments, petrol and parking fees).

You will probably have to rely on a combination of public transport (buses and MRT) and taxi rides (or Grab). Public transport is quite affordable and generally costs around 100 to 120 US dollars one month.

However, if you are travelling after midnight, there is little public transport available (there are night buses on weekends, but they stop operating at around 2 a.m.).

Need to get to Changi Airport for a 6am flight? Or are you trying to get home after a 1am round of drinks on a Wednesday night? Grab or taxis are your only options. Assuming you take a Grab ride twice a week for $15, you need to budget additional $120 per month for transportation. (Yes, those trips really add up.)

Daily expenses

Again, costs can vary greatly depending on your lifestyle, but you can expect the following costs:

Groceries – This can be more expensive than many other countries because many products are imported. Milk, non-tropical fruits, and non-Asian products like cheese tend to be quite expensive. If you cook at home every day, you’re probably spending at least $200 a month on groceries.

Coffee – A kopi at a local hawker center can cost just over $1, while a coffee at a Western cafe or chain like Starbucks can cost $5 or $6.

Eat – At one end of the scale, a meal at a suburban hawker centre can cost as little as US$3-4 (excluding drinks). When it comes to food, expect to spend around US$20-30 for a meal at a mid-range restaurant.

Mobile data – $20 per month for a basic SIM-only plan. If you need unlimited data, talk time, etc., you’ll pay around $25-30.

Exercise – Gyms and other sports/exercise classes tend to be quite expensive in Singapore. A reasonable price for a gym membership or weekly class might be around $100 per month.

Leisure activities – Movie tickets cost about $9 during the week and $13 on weekends. Alcohol is terribly expensive. A pint of beer at a downtown bar will cost about $10-15. And a karaoke session (without alcohol) in a private room will cost about $25-35 per person.

If you’re tight on cash, make friends with people who don’t always need to be seen in fancy places, so you can bring your own drinks and enjoy cheaper activities like picnics, biking, hiking, or Netflix ($10.98 per month for the basic subscription).

Nice-to-haves that can really drive up your costs

The thing about Singapore is that you can save a lot of money by living the monk’s lifestyle (e.g. never drinking, always using public transport), but as soon as you take a few liberties, the cost of living skyrockets.

Here are some small luxuries that can significantly increase your monthly costs.

Expensive gym memberships – These usually cost $100 to $150 per month, but can get even more expensive if they specialize in MMA or something else. Don’t sign up for any of these programs unless you’re already a gym junkie, because you usually have to sign up for a year or two at a time.

Eating in nice restaurants – There are numerous fancy restaurants in Singapore and a meal at one of these restaurants can easily cost you $50 or more per person if you order wine with it.

Appointments – Take it easy, maybe you should slow down your Tinder swiping. If you’re into the dinner and drinks combo, you can easily spend $50 or more per person in a single evening, depending on how expensive your/their preferences are.

Travel – Singapore is just a cheap flight away from some of Southeast Asia’s most popular destinations, but considering that a single weekend trip to Phuket or Bangkok can cost at least $200, vacations should be enjoyed in moderation.

So, what costs can you expect?

Depending on your lifestyle, these are your possible costs per month.

Note that if you’re a cheapskate, you’ll basically have to cook your meals (preferably vegetarian) at home every day, and you won’t be able to use Grab coffee machines or taxis, and you probably won’t have much of a social life.

How much do you spend per month in Singapore? Tell us in the comments!

Related articles

Expats working in Singapore – Guide to income tax for foreigners

Best Bank Accounts for Expats in Singapore 2

Renting in Singapore – Cost guide for renting a room or house

The article “Cost of Living in Singapore (2020) – Is Your Salary Really Enough?” first appeared on the MoneySmart blog.

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