Overview of cost of living in Singapore – (1) Food, Clothing, and Housing

Many people have a vague impression that Singapore is so expensive, but what is the reality of living costs there?

As of 2023, Singapore’s GDP per capita reached 84,734 USD, and according to the Economist Intelligence Unit, it ranked second in the global cost of living index in 2022. This indicates that Singapore is fundamentally a wealthy country with a very high cost of living.

However, if we delve deeper into daily life, we can discover some surprising aspects of Singapore’s living costs. Today, let’s explore this topic a bit further.

1. Basic
   • Overall, prices for goods and services in Singapore are on the higher side. However, the pricing system in Singapore is quite segmented, allowing for a wide range of prices for similar types of products. Consumers can choose according to their spending level. The price can also vary significantly depending on where and how you obtain the same item or service.
     
2. Clothing Costs
   • For similar items, I believe that clothing tends to be more expensive in Singapore compared to other countries (based on personal experience). For example, a pair of Lululemon pants costs 220 SGD here, while in USD it is priced in the 128 USD. Similarly, a pair of Nike tennis shoes costs 209 SGD in Singapore but around 130 USD in the US.
   • However, Singapore often has frequent sales across different distribution channels, and when sales occur, they can offer deep discounts. If you time your purchases well during these sales periods, there are many opportunities to get good deals.
   • Since Singapore only experiences summer weather year-round, there aren’t many types of clothing needed. Additionally, people here tend not to care much about others’ opinions regarding fashion. Thus, unless you are someone who is very interested in fashion, clothing expenses do not tend to be burdensome. Personally, I have never felt that clothing costs were a significant burden while living in Singapore.
     
3. Food Costs
   • Food expenses are perhaps the most varied category of consumption. You can eat very cheaply for as little as 4 SGD per meal (if you want to eat extremely cheaply, you can find Bee Hoon for as low as 2 SGD). On the other hand, you can also dine at high-end restaurants and spend as much as you wish. You can choose based on your budget.
   • Grocery costs also show significant differences depending on where you shop. When purchasing from local markets or stores where locals shop, it feels much cheaper compared to shopping at supermarkets in areas where foreigners predominantly live (for similar items purchased in local neighborhoods, there can be a 20-30% difference in grocery bills).
   • Considering that most food items (including water) are imported into Singapore, it seems that the government is making efforts to maintain affordable living costs for residents.
     
4. Housing Costs
   • The general types of housing can be classified into three categories: (1) condominiums, (2) HDB flats (Housing and Development Board), and (3) landed houses.
   • Foreigners generally reside in condominiums equipped with facilities like swimming pools and tennis courts. The monthly rent for condominiums varies widely; for a family of four looking for a three-bedroom unit, at least 3,500 SGD is needed as a minimum requirement. Realistically speaking, considering transport and school district conveniences, it would be reasonable to expect at least 5,000 SGD.
   • HDB flats are government-subsidized apartments primarily occupied by locals. They tend to be cheaper and often located better than condominiums but usually lack amenities and may have lower-quality materials used in their construction. When comparing similar sizes and locations with condominiums, HDB flats are generally about 1,000-1,500 SGD cheaper.
   • Landed houses are standalone homes typically chosen by wealthier individuals seeking privacy. They are usually spacious and quiet; however, they often present transportation challenges without a personal vehicle and require separate property management. Nevertheless, since landed houses are typically inhabited by those who are not constrained by budgetary concerns, residents often own vehicles and hire helpers (maids), so they do not experience significant inconveniences. Monthly rents for landed houses generally exceed 10,000 SGD (though this can vary widely depending on the property).

In future discussions, I will address education costs and transportation expenses—factors that significantly impact relocation decisions for those interested in moving abroad. I hope this information is somewhat helpful from a resident’s perspective.