Is Singapore That Expensive?

[soihok]

There is a lot of bashing on here about Singapore and I don't agree with much of it at all.

Is Singapore expensive? Yes, but then you can earn the money here to pay for it!! And it also depends on where you go and what you buy. You can eat and drink very expensive of very cheep! If I go to the supermarket in Singapore one week and Phuket the next Singapore is definatly cheaper for the basket of goods I buy.

I am not sure why some people automatically give Singapore a bad time, its a great place with plently to do and easy to travel out of.

And yes Male children who are chlidren of PR's are elligiable for National Service. If they are liabile for Thai National Service also they do the Singapore service only.

Agree.

As a place to work its good, tax is low and schools are available within a stones throw, as are most things.

I dont think I,ll go for PR ( returning to work there again this year) as I cant see us staying there indefinately , Thailand being where our home is and is very close , what benefit would we gain, other than a larger scope for schools.

Both my kids are girls and one has a severe mental disability so the military thing is of no issue anyway( extra tax relief for this , but it is only a small benefit).

As much as I like the place I dont think I,ld make it my home,,,,,Thailand is a far better place to do that.

Saying that....I,ld struggle to find a job in Thailand that pays me SGD 180,000 a year..... on 12--17% tax and that is what is on offer there for me now.

Up to you!!!

Edited September 17, 2009 by soihok

[supergoondu]

Probably the only taxi driver in this world with a PhD from Stanford and a proven track record of scientific accomplishments, I have been forced out of my research job at the height of my scientific career, and unable to find another one, for reasons I can only describe as something "uniquely Singapore". As a result, I am driving taxi to make a living and writing these real life stories just to make the dull job a little more interesting. I hope that these stories are interesting to you too.

A PHD from Stanford driving taxi in Singapore

That's a true story, the PhD from Stanford University is now a Taxi Driver in Singapore.

Singapore is indeed an expensive place. Life would not be easy without a job in Singapore. There are many bills to pay up and many loans to service, one cannot be out of job for a long time. Life would be good if you have monies else you may still have to toll for 3 meals even if you are 70 years old.

I had seen an item (biscuit pack, 200g) which was 'made in Singapore'. That item was more expensive in Singapore than in Chiang Mai. Isn't it strange, that item in Chiang Mai will probably have to incur additional logistics charges, and yet the retaler in CM can sell it at a lower price.

Edited September 17, 2009 by supergoondu

[somluck]

Those considering a move to Singapore might like to read this article,

Are you considering migrating to other parts of the world to start a new chapter of your life?

Are you moving so as to look for a job? Or do you yearn to experience a different culture?

If you were looking for a decent job as well as a place where you can live comfortably, then I would recommend you “Singapore”.

In a survey conducted recently, Singapore was picked as the best city in the world for Asian expatriates to live in. Beating Japan, Shanghai and even Hong Kong.

There are many reasons for choosing to work and live in Singapore, but basically there are 7. They are:

Strong Law Enforcements -

You never get to see protests, strikes and riots in the streets of Singapore. This is the result of the strict law enforcement by the police. Anybody caught involved in any of the above events, will be jailed and fined.

Currently, death penalty still exists in Singapore. Anybody caught drug trafficking, or committed murder or kidnap would be sentenced to death.

Another benefit of living in Singapore is it is quite safe to walk alone in the streets. Though crimes do occur, the rates are relative lower than that in other countries.

The locals joke that anybody who committed a crime has nowhere to run but jump into the sea (this is because Singapore is surrounded by sea). Another joke is that before the robber can escape, the police have arrived (Singapore is so small).

Climate -

What makes Singapore so attractive to live in is its peaceful environment. There are no natural disasters, such as earthquakes, typhoons, tornadoes and winter coldness. All you have is either rain or shine. But the air-conditioning is extremely powerful. You could say it’s winter indoor.

Networking –

Making use of the geographical location of Singapore, many big and small organisations set up bases here to have access to other parts of Asia and Middle East.

It is being used as a “Gateway”.

Even companies from China are setting up offices here to access markets in U.S.A and Europe. They are doing so partly to gain from the Free Trade Agreements signed between these countries and Singapore.

Even foreign workers are using this small country as a stepping stone to gain work experiences and improve their English so that they can move on to other developed countries such as U.S.A., Europe and Australia.

Since almost everybody is coming here, it has become the place for networking for both businesses and jobseekers.

Lenient Immigration Rules -

Do you know that Singapore is one of the countries that have the least strict immigration rules?

Anybody can come to Singapore as long as he/she obtains the necessary passes or documents.

Transport -

You can travel from one end of Singapore to the other end within an hour!

The transport system here covers the whole country and you don’t have to own a car to travel.

Public transport includes the Mass Rapid Transit (MRT) trains, buses and cabs/taxis.

Even if you own a car, the roads are well connected.

Education –

The education system caters to all students.

There are many schools, colleges, and universities for those who do well academically.

For those good in sports, there is even a sports school to nurture and train them.

Besides these schools, there are also several polytechnics and institutions to equip students with specialised skills.

Even the private schools and institutions in Singapore are of high quality. This is why so many foreign students enrol and study here. When these foreign students have graduated, many chose to continue to stay and work here.

Political Environment -

Singapore is quite unique in terms of its political environment. There are very few opposition parties. The dominant political group is the People's Action Party (PAP) that governs Singapore since independence day.

As such, there are no coups, resistance, or even clashes.

This is important for companies who invest here and for foreigners who live here. They can be assured of safety and security. You don’t have to worry about loss of investments and jobs due to unstable political environment.

Another reason why the political environment here attracts foreigners is its policy. The Singapore government welcome talents.

You would be surprised to know that in year 2005, about 44% of the jobs available were given to foreigners! (These 44% do not include permanent residents).

In fact, Singapore is so hungry for talented and skilled people. As long as you have the skills, knowledge, experiences or talents, you are definitely welcome here.

Of course there are many other reasons why thousands of foreigners are flocking to Singapore to seek jobs or to live here. But the above are the main reasons behind such move.

If you are tempted to migrate to Singapore by these 7 reasons, be assured you are not alone.

Who knows, you might even settle down and get a citizenship.

Copyright@2006 Yen-Ying Hor http://www.glob

[smint]

Singapore is small, thus the high cost of living, plus the many taxes, rules, and fines. Else how would Singapore be called a fine city and a "Fine" city?

But Singapore is one of the most affluent nations in Southeast Asia, with most citizens living well and wired up to the globe. (Contrast that to any other nation in SEA.)

Definitely, not everyone can own a bungalow in Singapore - how would that be possible? Thus the chicken coops, which are known as the HDB flats. In my opinion, extremely well run, and mostly well maintained throughout the country. You do not get blackouts and electrical outages because of the monsoon rain, neither does your Internet get cut off because of a rainstorm. Most, if not all estates are served by a shopping mall, and you can get everything there. If you need to surf on the go, you have 3G. To get from point to point, hop on a bus, and the average cost is only about 30 baht. If you want a car, of course it's a different story. And of course, there are no bus strikes or any other strikes. There are almost 5 million people in Singapore, but Singapore cannot afford to have 5 million cars.

And it is not very nice to say that "Singapore behaves like an American lackey". Politics, are a different story. But I believe that the least one should do is to respect another nation as a sovereign state. Again, Singapore is small, thus it has to do and conduct itself in a different way from its neighbours, and maybe other nations as well. But as long as the politicians and leaders of Singapore do what is best for the country, it really does not matter to them what others think of Singapore, right? (Of course, I'm not talking about tourists...)

In short, it really depends on why you want to settle down in Singapore. For business? For retiring? For the latter, it might not be advisable, unless you have some spending power, then you will really enjoy life there.... I hope I have helped..

Edited October 3, 2009 by smint

[Mercury]

I think it is a totally different argument if your non Singapore retirement option is Thailand or some other 3rd world country which is much cheaper all around. Comparing Singapore to Bangkok is rather stupid IMHO but comparing Singapore to say London, New York or Frankfurt as retirement options may be more realistic.

To rent housing and live quite comfortably in London, you'd need a minimum of perhaps £3000 a month. At current rates (2.25) that would be roughly S$6750 a month, both figures after taxes. In both places I would worry about the long term problem of rising rents but barring age restrictions, and at 5% pa, £1000 would raise £240,000, which just might be enough to purchase a 2 bedroomed flat in a moderate area or a house in a less desirable area. In Singapore, that would be S$540,000. I don't know if that is enough to purchase a property ?

I know you'd have to flip the deposit / term etc. but whether you have 250k on deposit at 5% pa or borrow it at 5% pa it is inversely the same.

Personally, if the visa situation was resolved with PR most likely, then I would always choose the warmth over the cold but I may just decide that I would prefer more for my money in retirement than Singapore offers. Then again, a mere Bt800,000 secures retirement in Thailand.

[ballzafire]

If you have money to burn, Singapore will suit you. But if you're like most people and need a job it is an expensive, stress-filled place to live where food and housing take the fun out of earning any good money that you do there. (But the MRT is a bargain and works well, too).

[OriginalPoster]

I think it is a totally different argument if your non Singapore retirement option is Thailand or some other 3rd world country which is much cheaper all around. Comparing Singapore to Bangkok is rather stupid IMHO but comparing Singapore to say London, New York or Frankfurt as retirement options may be more realistic.

To rent housing and live quite comfortably in London, you'd need a minimum of perhaps £3000 a month. At current rates (2.25) that would be roughly S$6750 a month, both figures after taxes. In both places I would worry about the long term problem of rising rents but barring age restrictions, and at 5% pa, £1000 would raise £240,000, which just might be enough to purchase a 2 bedroomed flat in a moderate area or a house in a less desirable area. In Singapore, that would be S$540,000. I don't know if that is enough to purchase a property ?

I know you'd have to flip the deposit / term etc. but whether you have 250k on deposit at 5% pa or borrow it at 5% pa it is inversely the same.

Personally, if the visa situation was resolved with PR most likely, then I would always choose the warmth over the cold but I may just decide that I would prefer more for my money in retirement than Singapore offers. Then again, a mere Bt800,000 secures retirement in Thailand.

That £240,000 would be marginal to buy a 2 room flat but not impossible. I'm renting a place in a condo complex right on the MRT line but about a half hour outside of center city. I know that 3 bedroom places there with about 1300 sq ft of living space are going for about S$650K to S$700K. That's expensive but it does have all the facilities - swimming pools, tennis courts, good maintenance of the grounds, etc (though it is about a 10 year old development, not a brand spanking new project). Curious thing though is that the expats that I meet who are sitting around the pool every odd night drinking beer talk about how cheap the cost of living in Singapore is and they seem to believe it with all their hearts. I like Singapore too and actually think that the cost of living is justifiable if one considers the standard of living compared to other countries in the region, but judging from their assessment of the cost of living I have to assume that the are either in a much higher income bracket than I or that the cost of living in their home countries is out of control.

Edited October 11, 2009 by OriginalPoster

[Wirat]

I know this reply is very late, but I just noticed this thread. I lived in Singapore for over a year and it was extremely expensive. I was working as an ex-pat with housing provided, but I can tell you I could never afford to retire there. My condo cost about 10,000 SGD a month. Other ex-pats working there had cheaper places. I owned a Toyota Avalon and there it was over 80,000 SGD, a Saab sedan was 110,000 SGD, the cost of owning a car is tremendous. Eating out is very expensive if you go to a sit-down restaruant and have alcohol. The local food courts are actually cheap though. Most Singaporeans live in government subsidised housing called the HDB where the cost is based on your income. As an expat I could not qualify for that. If you could afford to live there it would be very nice, the Cayman Islands of Asia. There are many wealthy people from Asia there because the banking privacy laws are good and the government is stable with support for investors. That means there is lots of corrupt money there from other Asian countries. Lots of Ferraris, Lambourghinis, etc. I would not even consider it for retirement as a forneigner with less than about 5-10 million US. And really, once you have lived in Singapore for over six months, there is not a lot left to do unless you travel out of the country. I wuldnt prefer it for retirement because I think it is a very rule-based society that is highly competetive and based on a lifestyle of clawing your way to the top for material things. There is a saying Singaporean women look for potential husbands based on the five C's: credit, condo, car, country club and cash.

[soihok]

I wouldn't qualify then, having only one "C" and an "M" (cash and Motorbike).

[londoedan]

I know this reply is very late, but I just noticed this thread. I lived in Singapore for over a year and it was extremely expensive. I was working as an ex-pat with housing provided, but I can tell you I could never afford to retire there. My condo cost about 10,000 SGD a month. Other ex-pats working there had cheaper places. I owned a Toyota Avalon and there it was over 80,000 SGD, a Saab sedan was 110,000 SGD, the cost of owning a car is tremendous. Eating out is very expensive if you go to a sit-down restaruant and have alcohol. The local food courts are actually cheap though. Most Singaporeans live in government subsidised housing called the HDB where the cost is based on your income. As an expat I could not qualify for that. If you could afford to live there it would be very nice, the Cayman Islands of Asia. There are many wealthy people from Asia there because the banking privacy laws are good and the government is stable with support for investors. That means there is lots of corrupt money there from other Asian countries. Lots of Ferraris, Lambourghinis, etc. I would not even consider it for retirement as a forneigner with less than about 5-10 million US. And really, once you have lived in Singapore for over six months, there is not a lot left to do unless you travel out of the country. I wuldnt prefer it for retirement because I think it is a very rule-based society that is highly competetive and based on a lifestyle of clawing your way to the top for material things. There is a saying Singaporean women look for potential husbands based on the five C's: credit, condo, car, country club and cash.

I agree and would be very surprised if anyone wanted to retire there. Now Batam or one of the nearby islands is a different matter - paradise indeed.