Cost of Living in Singapore

Shifting abroad can be a great experience- new life and surroundings. It can be expensive to move to another country and start a life there. Singapore is considered to be a destination that offers a mixture of cultures and traditions, world-class amenities and many new opportunities. In this blog, we will be discussing the cost of living in Singapore!

Cost of Living in Singapore

It is important to manage the funds in such a way that it does not put a lot of load on you monthly and all your needs are met. Here are the approximate costs of living, excluding rent, that are needed to sustain: 

Living expenses in Singapore (excluding rent)	Cost
Single person, per month	1,100 – 1,400 SGD (60,000 – 78,000 INR)
University student, per month	700- 730 SGD (38,000- 41,000 INR)

Currency of Singapore 

1 Singapore dollar (SDG) = INR 56

If you’re going to singapore as a student or because of a job with a fixed income, some simple lifestyle changes can help to reduce the cost significantly and make the most of your money. By shopping and eating like a local person from singapore, it can help you to cut costs and have a more authentic experience.

Also Read: Singapore Student Visa

Housing & Accommodation Cost in Singapore

Another factor contributing to the cost of living in Singapore is accomodation. It is important to determine where you choose to live. The prices for housing and accommodation are fairly high. But it can be solved. If you choose to move a bit to the outskirts of the city, it can help you to rent a flat for a lesser amount. You can always visit the city with the help of public transport. Singapore has a very well-developed rental sector, though it can be a little steep in your pocket. 

Rent in Singapore	Average Monthly Cost
One bedroom apartment (city)	2,700- 3,000 SGD1,50,000- 1,65,000 INR
One bedroom apartment (outside of city)	1,900- 2,200 SGD1,04,000- 1,21,000 INR

Cleaning Services in Singapore

A cost of $20 to $35 per hour will be charged by the cleaning firm. For a four-room HDB flat, it will take about 3-4 hours of regular weekly cleaning, which amounts to about the average house cleaning cost of S$320 to S$560 per month for four sessions monthly

Groceries Cost in Singapore

The average monthly cost of Groceries in Singapore is $ 257 to  $ 404/ month

Utilities Cost in Singapore

The average monthly cost of utilities is $ 117 to  $ 146/ month

Mobile Bill/Wi-Fi Cost in Singapore

Singtel’s 1Gbps Broadband Plan includes a router and costs $45.90 per month. $45.90/month for a StarHub 1Gbps Broadband Plan with Router. ViewQwest’s 2Gbps Broadband Plan, which includes a router, is $44.90 per month. $51.99/month for MyRepublic’s 2 x 1Gbps Broadband Plan.

5 Affordable Accommodation in Singapore for International Students

Healthcare & Insurance in Singapore

Healthcare in Singapore is very strong. People who have permanent residency in Singapore may be eligible for state-backed health insurance, which helps with some of the costs of medical care. It is advisable that the person living in Singapore takes private health insurance to make sure that they are covered for all eventualities. A checkup can cost around 50 SGD. 

• Health Card

To apply, go to your local City Office or Ward Office’s Residential Affairs Division. The premium is calculated using your age and prior year’s earnings.

• The Essential Benefit Plan

There’s also a plan in place for low-wage employees and unemployed people. The Essential Benefits Plan (EBP) is the bare minimum of health insurance coverage required of all Singapore residents. It provides essential services at an affordable price.

Commuting & Transportation Cost in Singapore

Public transport is great in singapore. There are parts where the city is congested, so using public transportation is great for a daily commute. 

• Car Ownership

A sedan will set you back S$106,000, a modest SUV/crossover would set you back S$107,000, while a luxury automobile will set you back S$183,000. Then there’s the Certificate of Entitlement (COE), which gives you the legal right to buy and keep an automobile.

• Public Transportation

Transportation in Singapore	Average Cost
Monthly bus/transport pass	100- 120 SGD5,500- 6,600 INR
Taxi tariff, 8km/5mile journey	12-15 SGD650- 850 INR

Leisure/Entertainment Cost in Singapore

2 tickets to the movies	SGD $27
2 tickets to the theater (best available seats)	SGD $77
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert	SGD $88
1 cocktail drink in downtown club	SGD $22
Cappuccino in expat area of the city	SGD $5.97
1 month of gym membership in business district	SGD $142

Cost of Studying in Singapore

 Public School

Singapore’s Ministry of Education announced an increase in school fees for the academic years 2018-2020 last year. In Singapore, public elementary school costs are $180 per month, while public secondary school tuition are $320 per month.

International/Private Schools

Fees per year: Tuition ranges from 16,500 SGD (part-time nursery) to 40,900 SGD (full-time kindergarten) (Grades 11 and 12). Fees that are paid just once: 2,500 SGD application fee

Higher Education

University Fees for Permanent Residents of Singapore (Subsidised) A Singapore PR should anticipate to pay between $46,000 and $75,000 for a university degree, with an average of $60,500, which is around 59.8% more than a Singapore citizen.

Average Cost of Living in Singapore

How much does it cost to live in Singapore on a monthly basis? Without rent, the monthly cost of living in Singapore is around S$1100-1400 or INR 60,000-75,000 (approximately). For a family of four, this may add up to almost S$4,400 each month, or around INR 2.46 lakh.

 Key Tips to Reduce Overall Living Cost in Singapore

Overall, the cost of living in Singapore is moderate but not cheap, particularly for students from countries with low exchange rates. Here are some helpful hints for lowering your total cost of living in Singapore:

• Students pursuing a graduate degree or a PhD from one of Singapore’s prominent institutions might consider living in the relevant institution’s dormitory to save money.
• Students can utilise public transportation and share trips with other students instead of paying for private transportation. It will undoubtedly assist international students in lowering their living costs in Singapore.
• Certainly, eating at upscale restaurants or cafés on a regular basis may be costly. As a result, you must seek for a cost-effective choice. The university cafeteria and street food are both substantially less expensive options. Furthermore, certain bars and restaurants have higher drink/dinner costs. Takeout is a preferable alternative if at all feasible.
• When Living in Singapore, students can usually work part-time for roughly 20 hours per week. Students are hired as interns and freelancers by a variety of workplaces and businesses. As a consequence, you’ll be able to support yourself comfortably and cover your living expenses in Singapore.

FAQs

This was all about the cost of living in Singapore. Want to know more about higher education in Singapore? Reach out to Leverage Edu experts today!