Cost of Living in Singapore

The cost of living in Singapore amounts to 1,483.2 SGD or 95,810.8 INR per month for a single person and 5,330.3 SGD or 344,333.1 INR per month for a family of four excluding rent. The country offers opportunities for higher education with top-notch quality, a high standard of living, and an efficient healthcare system. This Lion City is not only known for its world-class education but also for its rich traditions, culture, and abundant job opportunities, making it an appealing choice for expats and those seeking new opportunities. 

Singapore is one of the expensive countries, so having a good understanding of the cost of living is essential to accurately budget for the expected costs. This article will cover an overview of the cost of living in Singapore, the essential expenses involved, and much more.

Cost of Living in Singapore for Bachelors

The average cost of living for a bachelor in Singapore usually includes rent, utilities, groceries, entertainment, transportation, and more, depending on location, lifestyle, and spending habits. The table below highlights some of the main costs:

Expenses	Price Range
Accommodation	S$2200 - S$3000
Groceries	S$257 to S$404 per month
Utilities	S$117 to S$146 per month
Transport	S$100 to S$150
Entertainment and Shopping	S$2,500 to S$4,000 per month
Wi-Fi	S$45.90 per month
Entertainment and Shopping	S$2,500 to S$4,000 per month
Bus pass	S$128
Miscellaneous	S$200 to S$400

Cost of living in Singapore for Indian Couples

The table below outlines the cost of living in Singapore for Indian couples, including expenses for housing, utilities, food, transportation, leisure activities, and more.

Expenses	Price Range
Rent- 1BHK Apartment	S$1800 - S$2500
Groceries	S$500 to S$1,000 per month
Utilities	S$117 to S$146 per month
Transport	S$100 to S$150
Meals for two people	S$60 - S$100 per month
Wi-Fi	S$40 - S$60 per month
Electricity Bill	S$100 - S$150 per month
Bus pass	S$100 - S$120 per person
Miscellaneous	S$300 to S$500 per month

Currency of Singapore

The Singapore Dollar serves as the official currency of Singapore and is also commonly referred to as 'Sing' with the symbol S$. The issuance of banknotes and coins in Singapore falls under the purview of the Monetary Authority of Singapore. Banknotes come in various denominations, including S$2, S$5, S$10, S$20, S$25, S$50, S$100, S$1,000, and S$10,000. Notably, the Singapore Dollar is divided into 100 cents. The responsibility for producing coins, in values of one, five, 10, 20, and 50 cents, as well as S$1 and S$5 coins, also rests with the central bank.

The following are some brief details on Singapore’s currency.

• 1 SGD = 63.18 INR (as of 12th Dec 2024)
• Short name for the Singapore dollar = SGD
• Symbol of currency= S$

An Overview of the Living Expenses in Singapore

Singapore ranks among the world's pricier cities, with an average monthly expense for a single person of 1,515.7 SGD as per Numbeo data. However, these costs can vary based on one's lifestyle and location within the city. To enjoy a comfortable standard of living, a monthly income of approximately SGD 6,000 to 8,000 is typically needed.

A substantial portion of these expenses is allocated to housing, where the monthly rent for a one-bedroom apartment in the city center typically stands at around 3,867.43 SGD. When it comes to groceries and dining out, costs can be relatively high, ranging from SGD 200 to 600.
Transportation expenses, including public transit and occasional taxi rides, typically total approximately SGD 100 to 200 per month. Furthermore, Singapore's overall cost of living is influenced by other factors such as utilities, healthcare, and entertainment.
Let's take a closer look at the detailed breakdown of expenses.

1. Accommodation

Accommodation stands out as a significant expense when living in Singapore, and the cost varies depending on factors like location preference and whether you're renting or purchasing property.

• For Housing Rentals

Type of Accommodation	Average rent per month	Average rent per month in INR
HDB Rental Flat or Condo Apartment	940 SGD – 2700 SGD	INR 56944 - INR 1,63,563
Studio Apartment	2,018 SGD – 6,054 SGD	INR 1,22,248 - INR 3,66,745
Rental apartment (1 bedroom) in City Centre	3,867.43 SGD	2,38,817.76 INR
Rental apartment (3 bedrooms) in City Centre	7,362.91 SGD	4,54,667.22 INR

HDB (Housing and Development Board) offers a budget-friendly housing option in Singapore, ideal for those seeking a low-maintenance residence while avoiding expenses like taxes, insurance, and maintenance costs. The majority of Singapore's population resides in HDB flats, which come in various sizes, ranging from 2 to 5 rooms.

Condo apartments, in contrast, come with added amenities like a swimming pool, gym, playground, and security guards at the entrance.
On the other hand, a studio apartment comprises a single, spacious room that combines the living, dining, and bedroom areas, with a separate bathroom.

• To buy a property

When Indian families relocate to Singapore, the initial cost of living, particularly in terms of property purchase, can be quite high. It's advisable to consider buying property only if your financial situation is stable and you can manage the initial expenses.

Type of Accommodation	Average cost	Average cost in INR
Resale property	6,73,000 SGD-40,40,000 SGD	INR 40,76,9699 - INR 244739354
Private property	17,50,000 SGD and above	INR 10,60,13,334 and above
3-room HDB flat	4,29,750 SGD	2,64,27,177.84 INR

Furthermore, the overall cost of living for Indians in Singapore is influenced by the specific area in which you choose to reside.

• Cost based on Area

Type of Area	Average rent per month	Average rent in INR
Normal Area (900 sqft)	SGD 5495	INR 3,32,882
Expensive Area (900 sq ft)	SGD 6695	INR 405576

2.  Food and Groceries

Grocery shopping in Singapore tends to be higher than in many other countries, primarily because a significant portion of the market's products are imported. Singaporean food offers a distinct taste compared to Indian flavors. Therefore, it's important to ensure that essential groceries are easily obtainable in your vicinity.

Grocery Items	Cost in SGD	Cost in INR
Milk regular (1 litre)	SGD 15.13	INR 934.29
1 Kg Local Cheese	SGD 10.95	INR 676.17
500g loaf of fresh white bread	SGD 2.57	INR 158.70
Rice (white) 1kg	SGD 1.56	INR 96.33
12 Eggs (Regular)	SGD 4.39	INR 271.09
Apples (1kg)	SGD 2.59	INR 159.94
Oranges (1kg)	SGD 2.45	INR 151.29
Bananas (1kg)	SGD 1.92	INR 118.56
Tomatoes (1Kg)	SGD 1.71	INR 105.59
1.5-liter water bottle	SGD 1.90	INR 117.33
Potatoes (1Kg)	SGD 1.39	INR 85.83
Onions (1 Kg)	SGD 1.34	INR 82.75

 3. Transportation

Transportation expenses are an essential part of daily life, serving the needs of students and working individuals alike. Opting for public transport or cycling can be cost-effective. Below, you'll find the different average transportation costs:

Mode of transport	Average cost	Average Cost in INR
Monthly pass for public transport (per person)	SGD 128	INR 7754.12
Taxi 1km (Normal Tariff)	SGD 1.69	INR 104.36
Gasoline (1litre)	SGD 10.74	INR 663.21
Volkswagen golf 1.4 tsi 150 cvs (or equivalent), with no extras	SGD 180,000.00	INR 11,115,184.10
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)	SGD 162,631.59	INR 100,42,667.02
Taxi 1 hour waiting - normal tariff	SGD 20	INR 1215

 4. Household expenses

To maintain a comfortable lifestyle in Singapore for Indian residents, expenses cover electricity, gas, waste disposal, water, and television services, among others. While certain expenses may be combined with your rent, others may not be included. Here's a comprehensive breakdown of the average utility costs.

Bills	Average Cost per month	Average cost per month in INR
Internet (60 Mbps or more)	SGD 46.96	INR 2899.83
Laundry detergent	SGD 13	INR 787.53
Helper for cleaning (Hourly rate)	SGD 25	INR1514.48
Microwave 800/900 watt	SGD 189	INR 11449.44
40’ flat screen TV	SGD 746	INR 45191.97
Electricity, cooling, heating, water, garbage	SGD 205.04	INR 12661.43
Mobile phone monthly plan with calls and 10GB data	SGD 24.47	INR 1511.05

5.  Entertainment

Life is not always about studies and work, there should also be a room for entertainment. Here are the expenses associated with various entertainment options for Indians seeking a rich and fulfilling life in Singapore.

Entertainment	Average Cost	The average cost in INR
Tennis Court Rent (1 hour on weekend)	SGD 17.13	INR 1057.80
Fitness club, monthly fee for adult	SGD 131.06	INR 8093.09
Cinema, 1 seat	SGD 15.00	INR 908.69
1 cocktail drink in a downtown pub	SGD 23	INR 1393.32
1 beer in a neighborhood pub	SGD 12	INR 726.95
Dinner out for 2 in a neighborhood pub	SGD 81	INR 4906.90
Cappuccino in expat area in the city	SGD 6.45	INR 398.29
Dinner at an Italian restaurant for 2 members including appetizers, a main course, wine, and dessert	SGD 148	INR 8965.70
3-course meal in a mid-range restaurant	SGD 100.00	INR 6175.10

6. School and Child care

International schools are the choice of many foreigners living in Singapore with children. Their cultural background or their goals for their children's education may have an impact on this decision. The total cost of living for families in Singapore is mostly determined by the monthly tuition fees for daycare and schooling.

Schools and childcare	Approximate cost	Approximate Cost in INR
Kindergarten (preschool) full day, monthly for 1 child	SGD 1,665.12	INR 102822.86
International primary school, yearly, 1 child	SGD 37,650.62	INR 2324964.29

7.  Health and Insurance

Singapore has an excellent healthcare system, and citizens who are permanent residents may be eligible for state-sponsored health insurance. For full coverage, Singapore residents should consider getting private health insurance. A medical examination may cost up to 50 SGD. 
When it comes to Public healthcare, they rely on three key components: Medishield, Medisave, and Medifund. Medisave, funded by a portion of employees' monthly salary (8-10.5%), covers routine care and basic services. Medishield, on the other hand, is designed to finance costly treatments and larger medical bills.

• Health Card

To obtain a health card, visit the Residential Affairs Division at your nearby City Office or Ward Office. The cost of the premium is determined based on your age and your earnings from the previous year.

• Health Benefits plan

There is a program for individuals with low incomes and those without employment, known as the Essential Benefits Plan (EBP). It mandates that all Singaporean residents have access to basic health insurance coverage, delivering necessary healthcare services at an affordable rate.

• Healthcare Service

Here's a summary of typical healthcare costs in Singapore. A short visit to a private doctor in 15 minutes costs an average of 99 SGD. Cold medicine for 6 days costs 14 SGD and 1 box of antibiotics (12 dozen) costs 19 SGD. 

8.  Miscellaneous expenses

 We've covered several living expenses in Singapore for Indian residents, recognizing that each family's spending may vary. Alongside, there are occasional minor expenditures, such as shopping, stationery, books, novels, personal care items, and medications, among others. The table below outlines the fundamental costs associated with these expenses.

Other Expenses	Average cost	Average Cost in INR
General practitioner consultation fee per month	SGD 40	INR 2423.16
Shopping	SGD 150 -SGD 250	INR 9086.86 - INR 15144.76
Cold medicine for 6 days	SGD 14	INR 848.11
4 rolls of toilet paper	SGD 4.52	INR 273.82
Books and stationery for 1 person	SGD 32	INR 1938.53
1 Pair of Nike Running Shoes (Mid-Range)	SGD 126.09	INR 7786.19

Tips to Reduce Expenses in Singapore for International Students

The cost of living in Singapore is not cheap, especially for international students from countries with lower exchange rates. In order to effectively manage costs, here are some practical suggestions for reducing Singapore's overall cost of living.

• To cut down on living expenses, students can opt for public transportation and carpool with fellow students instead of using private transportation, which can significantly benefit international students.
• Living in the dormitories of prominent universities in Singapore is an affordable choice for students seeking a Ph.D. or graduate degree.
• Prefer apps that offer various discounts on groceries, food, and other purchases.
• Students can work 20 hours per week part-time when living in Singapore. Making use of this opportunity will definitely reduce your financial burden.
• Buy items in bulk if there are any sales offered.
• To save money on rent, rent a shared apartment in a less famous locality.
• Prefer eating in a university cafeteria or street foods than in expensive restaurants. Moreover, cooking and packing your meals can be even more cost-effective.
• Switch off your electrical appliances like a fan or AC when not in use.
• Find SIM-only mobile phone plans.
• Collaborate with fellow tenants and friends to share monthly subscription plans.

 Conclusion

In conclusion, the costs mentioned in the table above represent the fundamental expenses for an Indian student’s and family's cost of living in Singapore. These costs are calculated on a per-person basis. If you are considering relocating with your family, it's essential to incorporate these core elements into your budget to assess your household's overall Cost of living in Singapore. Additionally, remember to explore the various discounts available with your student ID to make the most of cost-saving opportunities.

FAQ

1. What salary is needed to comfortably live in Singapore?

A yearly income of around S$ 54306 or 33 lakhs INR is considered a favorable salary in Singapore. According to 2022 reports, the average monthly earnings in the country is around S$5,783, which equates to about ₹3.24 lakhs, which is considered a respectable income for individuals in Singapore.

2. Is 3000 SGD a good salary in Singapore?

A monthly salary of 3,000 SGD is sufficient to maintain a comfortable lifestyle in Singapore with savings. This is especially achievable if you opt for renting a room in an HDB (Housing and Development Board) flat and do not have additional financial responsibilities like children or the need for a car. It's worth noting that many entry-level retail employees can expect salaries ranging from $1,500 per month, with supervisors earning up to $2,100 per month.

3. Is it expensive to live in Singapore?

Yes. Singapore is one of the most expensive countries in the world. The monthly costs and expenses are higher when compared to other countries. But this doesn’t mean that you cannot live a sophisticated life in Singapore.

4. Is Indian Food costly in Singapore?

Dining at an average restaurant in Singapore typically ranges from S$20 to S$40 per person. If you opt for biriyani, you can expect to spend approximately S$6 to S$8 per person.

5. What are the monthly expenses in Singapore?

Below is the average list of monthly expenses

Expenses	Average cost per person
Food and Groceries	270 SGD
Transportation	100 SGD - 120 SGD
Household bills	5200 SGD
Entertainment	90 - 200 SGD

6.      Why is the cost of living in Singapore so high?

The cost of living in Singapore is so high due to a combination of various factors including strong currency, high property prices, and a lack of land.

 7. How to reduce the cost of living in Singapore?

Some of the ways to reduce the cost of living in Singapore are

• Take free MRT Rides in the early morning
• Eat in restaurants that offer the best food at the cheapest rate. Hawker centers in Singapore are one of them.
• Buy groceries via apps that offer discounts.
• Be aware of the tax relief
• Reduce your medical expenses by availing medical insurance.

8. What is the average cost of living for a couple in Singapore?

According to Numbeo, the cost of living for a couple in Singapore is estimated to be around SGD 4,000 to SGD 6,000 per month, depending on their lifestyle and spending habits. Here is a breakdown of the average expenses:

• Condo rent: SGD 2,500 to SGD 4,000 per month for a one-bedroom apartment in the city center.
• Groceries: SGD 400 to SGD 600 per month for basic groceries like fruits, vegetables, meat, and dairy products.
• Medical insurance: SGD 200 to SGD 400 per month for basic health insurance coverage.
• Vacations: SGD 500 to SGD 1,000 per month for occasional weekend getaways or short trips within Southeast Asia.

Note that these are only approximate figures and actual expenses may vary depending on individual circumstances.