Singapore cost of living is known for its thriving economy, excellent infrastructure, and world-class amenities. However, the cost of living in this dynamic city-state is among the highest in the world. Whether you are a prospective expat, a student, or someone planning to relocate, understanding the Singapore cost of living for 2024 is crucial. This comprehensive guide breaks down everything you need to know, including housing, utilities, transportation, food, healthcare, and more.
Let’s explore the detailed costs associated with living in Singapore and provide insights to help you plan your finances effectively.
Housing Singapore Cost of Living for 2024
Housing is one of the most significant expenses for anyone living in Singapore. The type of accommodation you choose will impact your monthly budget considerably.
Public Housing (HDB Flats)
Housing and Development Board (HDB) flats are a popular and relatively affordable option. These government-subsidized apartments provide decent living conditions for locals and some expats. Here are the average monthly rental costs for HDB flats in 2024:
- 1-Bedroom HDB Flat: SGD 1,800 – SGD 2,400
- 2-Bedroom HDB Flat: SGD 2,400 – SGD 3,200
- 3-Bedroom HDB Flat: SGD 3,000 – SGD 4,500
Private Condominiums
Private condos offer better amenities, such as swimming pools, gyms, and security services. These come with a higher price tag. Here are the expected rental rates for private condos in 2024:
- 1-Bedroom Condo: SGD 2,800 – SGD 3,800
- 2-Bedroom Condo: SGD 3,500 – SGD 5,500
- 3-Bedroom Condo: SGD 5,000 – SGD 8,000
Landed Properties
For those seeking luxury and more space, landed properties are the premium choice. Monthly rentals for these homes can range from SGD 8,000 to over SGD 20,000 depending on the size and location.
Buying Property in Singapore Cost of Living
If you’re planning to buy property, prices are steep. The average cost per square meter for HDB flats is between SGD 6,000 – SGD 8,500, while private condominiums range from SGD 12,000 – SGD 18,000 per square meter.
Utilities and Household Expenses
Utilities are another essential part of the cost of living in Singapore. Here’s an estimate of monthly utility costs for a typical household:
- Electricity, Water, and Gas: SGD 180 – SGD 250
- Internet and Cable TV: SGD 50 – SGD 80
- Mobile Plans: SGD 30 – SGD 60 per person
The overall monthly cost will vary depending on family size and usage.
Food and Dining Cost of Singapore Cost of Living
Cost of living in Singapore is a paradise for food lovers, offering options from budget-friendly hawker centers to luxurious fine-dining establishments.
Eating Out
- Hawker Centers: SGD 4 – SGD 8 per meal
- Mid-Range Restaurants: SGD 15 – SGD 40 per meal
- Fine Dining: SGD 100 – SGD 300 per person
Groceries
Buying groceries in Singapore can be expensive if you opt for imported products. Here are average grocery prices in 2024:
- Milk (1 liter): SGD 3
- Bread (500g): SGD 2.50
- Eggs (12): SGD 3.50
- Chicken (1 kg): SGD 8
- Rice (1 kg): SGD 2.50
Monthly grocery expenses for a family of four typically range between SGD 600 and SGD 1,000.
Transportation Costs
Singapore has an efficient and reliable public transportation system. Here’s a breakdown of transportation expenses:
Public Transport
- Bus and MRT Fares: SGD 1.50 – SGD 2.50 per ride
- Monthly Pass: SGD 128
Taxis and Ride-Sharing
- Base Fare: SGD 3.20 – SGD 4.00
- Average Ride: SGD 10 – SGD 25
Car Ownership
Owning a car in Singapore is costly due to the Certificate of Entitlement (COE) and other fees.
- COE (10-year ownership): SGD 80,000 – SGD 100,000
- Average Car Price: SGD 100,000 – SGD 150,000
- Petrol (1 liter): SGD 2.50
Healthcare Cost of living in Singapore
Singapore’s healthcare system is renowned for its quality, but costs vary depending on whether you use public or private services.
- GP Consultation: SGD 50 – SGD 80
- Specialist Consultation: SGD 150 – SGD 300
- Hospitalization (Public Hospital): SGD 1,000 – SGD 2,500 per day
- Health Insurance Premiums: SGD 300 – SGD 600 annually
Education Costs
Education costs in Singapore depend on whether you opt for public or international schools.
Public Schools
- Primary and Secondary School Fees: SGD 10 – SGD 50 per month (for citizens)
- For Expats: SGD 300 – SGD 600 per month
International Schools
- Annual Tuition: SGD 20,000 – SGD 50,000
Entertainment and Leisure Cost of Singapore Cost of Living
Enjoying life in living cost of Singapore comes with a variety of entertainment options.
- Cinema Ticket: SGD 15
- Gym Membership: SGD 80 – SGD 150 per month
- Theme Park Entry (Universal Studios): SGD 80 per visit
Summary of Living Costs
Here’s an overview of the average monthly cost of living:
- Single Expat: SGD 3,000 – SGD 4,500
- Couple: SGD 4,500 – SGD 7,000
- Family of Four: SGD 7,000 – SGD 12,000
Living in Singapore offers a high quality of life, but it comes at a price. With careful financial planning and budgeting, you can enjoy everything this vibrant city-state has to offer in 2024.
