Tuesday, April 10, 2007

Cost of living Singapore - 2007

I have been trying to get realistic picture of "cost of living in Singapore" before I moved in here. i searched many blogs & yahoo answers. I surely got some idea, but it was hard to find the close the approximate feel of how much does it costs a couple with one child or for a couple to live in Singapore with moderate expenses NOW !!.

As it is very important for us to know the cost of living in a new country or city before we move-in, so that we are financially & emotionally prepared to live there !!.

Now that I have already been living in Singapore for more than 3 months, I guess I can put some math around for other people who are in search of the same question "How much does is cost to live in Singapore?".

Again what I am trying to put here is something based on my experience & my lifestyle(which call as Moderate).











I will try to update more on this as I get more data based on my experience here in Singapore.Now let me explain some of the expenses in short to avoid any confusion.
Local transport will cost around $100 for commuting daily to office by MRT/Bus

Fixed Expenses
These are some of the expenses you will have on a monthly basis.
Variable Expenses
These expenses can be different for some months, but most of you will have these as well. Now again here is the lifestyle comes into picture, someone using more of Taxi or eating out frequently will have more amount spent in this category.

Rent
Rent is the major expense in singapore & it ranges from $1000 to $1500, depending where you stay in Singapore. Staying closer to the CBD(or city area/downtown area) is more expensive. So one needs to decide a cap on this before you try to find a good house to stay. The HDB(developed by Singapore Govt) are the most economical & do serve the purpose.

There are 3 types of housing·

  • HDB Most of the housing is HDB. Economical & most people prefer this to start with. Choices are 1,2,3,4,5 Bed Room flats in most of areas of Singapore.·
  • Condo These are expensive housing schemes by govt or private builders. They are few in all areas & provide facilities like Swimming pool, gym, guarded security etc. But the rooms generally are smaller & you have to pay more for it.

Settlement Expenses

Consider some settlement expenses when you arrive, following are based on my experience·

  • One Month rental as Deposit (e.g. $1300)·
  • 50% of the per month rent as Brokrage to Agent (e.g. $650)·
  • Most of the HDB/Condo flats will have furniture, but sometimes you might have to buy something. Furniture is expensive depending on what you want to buy (e.g. $500 for a Queen size bed)·
  • Buying any electronics items like Mixer Grinder/Vaccum Cleaner etc will cost more here.·
  • Indian style Kitchen utensils are expensive here (e.g. $50 for a 4 ltr Aluminum Hackings cooker)·
  • Any other item you want to buy which is not there in Flat you rent or required.

Some other points about Singapore

  • All Indian vegetables/grocery are available in Mustafa 24 hour shop· Little India(a Place in Singapore) has most of the other Indian Stuff & food items.·
  • No need of Car as pubic transport is very effective & cheap to travel all around Singapore·
  • Weather is not extreme..humid climate·
  • Lots of Indians for community help·
  • Roundtrip to India is about $700-1000 per person
  • Deposit to Schools for registration (e.g. 1 month fee or around $1000-1500 for Indian Schools.
  • There are 2 Indian Schools : Bhavans & DPS !! Having CBSE system.

Some useful websites·

Related Post

14 comments:

Anonymous said...

thanks for the info. can you tell me how much a single person's expense per month in singapore. i'm working in us as a junior civil engineer and earn around us$38000 per year after tax. How much salery should i expect there...if you have any clue

Tar said...

thanks alot sandeep... I was looking for this kind of costings only.

I am planning to move to singapore from Dubai as dubai is getting expensive and more expensive... there is no savings at all. I would like to get intouch with you for more details..if you dont mind. My name is Tar Mohammed, I am Gujarati from Bangalore and now working in Dubai since 3 yrs. my email id is lala_family@yahoo.com, we can chat also. bye n thanks

Vidooshak said...

hey sandeep

welcome back to blogosphere. it was good to see another useful and interesting blog from you after a long gap.

one suggestion: label or tag this with words "singapore", "relocation" and "HDB" so that more people can find it in searches. it is a very relevant reference point and i know many people looking for exact same details for relocating to US (East coast and West coast) and Dubai. It is a great start!

keep writing

jam

Living in Singapore said...

This is one of the most informative cost of living comparisons I've seen recently - thanks for writing this up.

Hope you don't mind us linking to your blog and your cost of living comparison - we've linked to you from our Moving to Singapore tips page at Living in Singapore.org.

I moved to Singapore a couple of years ago myself, and now we've put up a small web site to help other friends who are making the move. The rents this year are outrageous though, you may end up having to update that rent estimate every now and then!

Abhishek said...

Hi Sandeep,thanks a lot for the info.... can u tell me avg expenses per month for a family including 2 kids keeping in mind that they have to study in CBSE system.

CHULA said...

HI All...

I'm Sri Lankan and hope to be at singapore November 2nd week..thanks sandeep 4 ur info..

Any way I need some help if any one knows about NANYANG institute of management and about the course call "Diploma in Hospitality Mgt." pls mail me..Is that reorganize??? are we eligible for apply 2 a work permit in AUS or NZ as it says???

Regards...
CH

cindy said...

You May Apply for internship in this countries.. of coz subjected to all visa application.

shylaja said...

Very informative, Sandeep

I have an offer with an IT company in Singapore as a Sales Manager - what should be the market rate for an MBA with 6 yrs india exp

Thanks..

Anonymous said...

to send two children to CBSE school you have to pay around S$1000 excluding transportation

Anonymous said...

Hi, we have been leaving in singapore for the past 17yrs and relocating to Dubai next month. You have Bhavans and National public school offering u CBSE system.

Anonymous said...

Any idea as to the salary range of Chareterd accountant with 5 years experience for the post of finance controller??

Soniya said...

You did a great job by writing this post.Can you please tell me about the social culture and security in general?

kp11 said...

can you please tell how much health insurance are you paying for the whole family? does the medical system work like in US - ie insurance based or like in India, where it is mostly out of pocket?

thanks

Anonymous said...

Hi sandeep, very informative and resourceful... Thanks..
Have some questions:
- what's the current cost of living (assume effective april 2010) for a couple and a 4year old son....include cost of living as, rent, conveyance, grocereies, fulltime maid, schooling, medical expenses and entertainment expenses, comfortably.

- son will need physio therapy at least 5 days a week.

- what's the eligibility for my wife to work in singapore as well?

- what are the income tax implications Singapore? Double taxation of any sorts?

- bottom line how much can one save in singapore vis-a vis india?

Tks
Zjd