Living Costs: How Does Singapore Compare to Others Globally?

Have you ever wondered how much it costs to live in different parts of the world? Whether you’re planning a move, considering retirement abroad, or simply curious about global affordability, understanding living costs is key.

In this article, we’ll break down the cost of essential expenses—monthly rent (for a 900 sq ft apartment in an expensive area), a basic lunch in the central business district (CBD), and monthly public transport fares—in some of the world’s most popular cities.

We’ll also highlight Singapore’s position in this global comparison and provide actionable insights to help you navigate these costs effectively.

Key Insights from the Data

Here’s a breakdown of the living costs across major cities:

Analysing the Data: Singapore’s Position

1. Monthly Rent

• Singapore: $6,632 for a 900 sq ft apartment in an expensive area.
• Comparison:
  • London ($7,272) is more expensive than Singapore.
  • Bangkok ($2,443) and Kuala Lumpur ($1,288) are significantly cheaper.
  • Hong Kong ($8,971) is the most expensive city on the list for rent.

2. Basic Lunch in the CBD

• Singapore: A basic lunch costs $15 in the CBD.
• Comparison:
  • London ($27) has the most expensive lunches.
  • Kuala Lumpur ($6) offers the cheapest lunches.
  • Berlin ($21) and Melbourne ($20) are slightly more expensive than Singapore.

3. Monthly Public Transport

• Singapore: Monthly public transport costs $84.
• Comparison:
  • London ($291) has the highest public transport costs.
  • Kuala Lumpur ($16) has the lowest costs.
  • Tokyo ($80) and Seoul ($58) are relatively affordable compared to Singapore.

1. Singapore’s Affordability

• While Singapore isn’t the cheapest city overall, it strikes a balance between moderate rents, reasonable meal prices, and affordable public transport.
• Compared to cities like London and Hong Kong, Singapore offers a more affordable lifestyle without sacrificing quality of life.

2. High-Cost Cities

• London: The most expensive city for rent and public transport.
• Hong Kong: The most expensive city for rent, but relatively affordable for meals and public transport.

3. Affordable Destinations

• Bangkok and Kuala Lumpur stand out as highly affordable options, especially for housing and meals.
• Taipei also offers low-cost living, particularly for meals and transportation.

4. European Contrast

• Berlin and Stockholm offer moderate living costs, with Berlin being notably cheaper for rent and public transport compared to other European cities.

5. Asia-Pacific Trends

Within Asia, Bangkok and Kuala Lumpur are significantly more affordable than Hong Kong or Singapore. However, cities like Taipei and Seoul strike a good balance between affordability and quality of life.

Practical Tips for Managing Costs

Image Source: Numbeo

The cost of living varies dramatically across the globe, and what’s affordable in one city may be unattainable in another.

Whether you’re drawn to the vibrancy of London, the affordability of Kuala Lumpur, or the balance offered by Singapore, understanding these costs is crucial for making informed decisions.

Remember, a comfortable lifestyle isn’t just about numbers—it’s about finding a place where your income aligns with your needs and aspirations. By carefully evaluating your priorities and managing your finances strategically, you can thrive in any city.