The city-state of Singapore has proven to be attractive to skilled foreign talent that number an approximate 500,000, or more than 12 percent of the country’s population of about four million. Singapore’s living standards are one of the highest in Asia. Conversely, its cost of living is comparatively lower than that in equally developed western countries.
Prices of food and clothing are moderate. There is a wide spectrum of price ranges since most goods are imported. Anything that is between bargain and top-of-the-line exhibits a normal price tag. In Singapore, all taxes are inclusive in the prices shown. Transport and accommodation come at a reasonably low cost.
If you are an expatriate whose compensation package includes additional benefits such as transportation/car allowances, housing, childcare, payment of school fees, entertainment allowances, and other work-related benefits, you will find that Singapore is a place where a total net annual income of at least S$78,000 makes for quite a comfortable life. On the other hand, a salary of S$5,200 a month is enough for a newly settled in couple with no child, does not normally eat out or go clubbing, does not spend much on entertainment, have less luxury, does not maintain a car, and have opted for a smaller house.
Location is a major differentiating factor in rent ranges in Singapore. The cost of housing depends on such factors as proximity to the city, relative age of the property, availability of facilities such as pool, gym, etc., and the quality of the furnishings that come with the apartment.
A condo apartment with the size of 1,600 square feet (3+1 bedrooms) in the city fetches an average monthly rent of S$4,000. A 1,500-1,800 square-foot (3+1 bedrooms) apartment in the outskirts of the city rents out for S$2,500. A fully-furnished 2-bedroom apartment (HDB) costs from S$800 to S$1,200 per month. This already contains the basic household appliances such as a bed, television, sofa, refrigerator, washing machine, oven, etc. A more comfortable HDB flat will cost about S$1500 a month. If you are an expatriate who is single, you may opt to share the space with a co-occupant or be a paying guest at S$250-S$550 per month. In Singapore, rental costs of serviced apartments come in high-end range, mid-range, and budget.
A room in a condo located in the city proper costs a monthly average of S$1,800. In the suburbs, the same room will cost approximately S$1,200-S$1,500 per month. Located 30 minutes away from the city, a room commands a monthly of S$400-S$750.
In the choice districts closest to the city center, a house can set you back by S$28,000 monthly rental. Farther, a house with a private swimming pool can be rented for about S$11,500 per month. These dwellings are typically of the 2,500 square-foot size. It comes with a driveway, garden, pool, and average of 4 bedrooms. Generally, houses within the city proper rent out for a monthly of S$10,000-S$25,000.
Via enterSingapore
