Exploring the Cheapest Living Costs in Expensive Singapore
When considering the cost of living in Singapore, it can often feel like every aspect of life is expensive. However, there are certain areas where you can find relatively affordable options, compared to the overall cost of living. Let's dive into the things that are relatively cheap and expensive in Singapore and explore why they might impact your budget.
Relatively Cheap: Key Areas of Expense
Food
When it comes to food, Singapore offers a variety of affordable options beyond fine dining restaurants. Hawker or street food stands in neighbourhood towns and the city can provide a plate of rice with two vegetables for around S$3, while a cup of local coffee costs S$1.30–S$3. Plain water from a tap or a cup can be as cheap as S$0.80 in neighbourhood towns, rising to S$1.50 in the city. Bugis Street Market is also a treasure trove for bargain hunters, where you can find clothing for S$3–S$15 per piece.
Public Transport
Another area that stands out as relatively affordable is public transport. Buses and MRT (Mass Rapid Transit) trains offer competitive rates with single rides costing S$0.70–S$1.80. The fare for a complete MRT trip ranges from S$1.20–S$2.00. Furthermore, students and senior citizens enjoy discounts on these fares. The key advantage in both bus and train travel is that the costs do not escalate based on the number of connections you take.
Public Housing
For those looking to live in public housing, the cost can be quite reasonable for new apartments. A typical 800-square-foot government-built home, or HDB flat, costs around S$300,000. This is a significant saving compared to private housing. If all criteria are met, these homes can be sold for double their original price after at least six years. However, the lease term for these apartments is typically 99 years, which is an important detail to consider.
Relatively Expensive: Key Areas of Expense
Private Housing and Condos
When it comes to private housing or condominiums, the costs can be staggering. Neighbourhood townhouses range from S$700 to S$1,300 per square foot, making a 1,000-square-foot unit cost around S$700,000 to S$1.3 million. In city areas, prices can exceed S$3,500 per square foot. Freehold properties and 99-year leasehold properties are available, but it is crucial to review the specific terms.
Cars
Buying a car in Singapore can be an expensive endeavor. A new BMW 3 series or Mercedes C class costs around S$230,000, while supercars like Lamborghini or Ferrari can cost over S$800,000. Singapore has strict regulations for car usage, with a mandated scrappage scheme after 10 years. Beyond this point, the cost of car taxes, road taxes, and insurance increases significantly.
Utilities and Rentals
Utilities such as water and electrical charges can be a hidden expense. Basic water charges are around S$50 to S$150 per month, and electricity can cost S$150 to S$300 per month. Room or home rentals can be quite costly, with a single room costing S$500 or more per month. A 1,000-square-foot condo rental can range from S$3,000 to S$5,000, and a landed home rental often exceeds S$3,000 per month.
Education
Education costs for non-residents and permanent residents are also significant. A child's secondary education can cost beyond S$350 per month, while tuition fees for each subject can range from S$250 to S$400 per month.
While the expenses listed above may seem daunting, they provide a clear picture of the cost of living in Singapore. Understanding these costs can help you make informed decisions about where and how to live in this vibrant city-state. Whether you seek the affordability of public housing or the luxury of private residencies, exploring all the available options is key to finding a comfortable and suitable living arrangement.