Lisafuller wrote: ↑Fri, 04 Mar 2022 12:45 am
Yup, the COL is ridiculous. Seems cheaper here at first glance, but when you really consider all factors you’re worse off.
The system is set up to be affordable for most citizens who fit the mold - ie. live with their parents until they get married, buy a new BTO direct from HDB using their CPF, with some subsidies thrown in for good measure. They can then enjoy the baby bonus, free schooling, parenthood tax rebate… etc, etc. In such a case it is possible to pull through much of that the savings without everything getting eaten up by the cost of living, especially if they can get by without a vehicle and forgo expensive hobbies.
The situation is starkly different for an expat, even without a car, housing alone can be a budgetary challenge, then add school age kids into the mix and it can quickly become unmanageable — especially now with local school fees (if you are even lucky enough to get a spot) now costing at least half of
International School.
Just have a look at the school fees for attending LOCAL school next year in 2023… for a non-SC, non-PR, non-ASEAN student:
Primary $10,500
Secondary $21,000
Pre-U $25,200