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How do people manage on 3000 SGD?

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moto
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Postby moto » Fri, 24 Sep 2010 3:40 pm

Yep, SMS' figures are based on SingStats... so it is possible to live a middle class life for 5K a month in Singapore.

In terms of big bucks, though, HSBC's Expat Report 2010 states that 45% of expats in Singapore make more than 265K per year. By comparison, according to SingStats, less than 10% of Singapore households annually earn at least 265K. Of course, this can be comparing apples and oranges in terms of methodology, etc.

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Postby nakatago » Fri, 24 Sep 2010 3:51 pm

sundaymorningstaple wrote:The median household income in Singapore is only slightly over 5K/mo. The median income here was around 2,600/mo in 2009. Looks like a lot can do it don't it.


What? And do away with the iPhone4's, signature bags, credit cards, quarterly purchase of computers and 50"-television sets, yearly replacement of furniture or annual flat renovation, holiday trips to the other side of the world or just simply keeping up with the joneses?

:roll:

</sarcasm>

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Postby Girl_Next_Door » Fri, 24 Sep 2010 3:55 pm

moto wrote:Yep, SMS' figures are based on SingStats... so it is possible to live a middle class life for 5K a month in Singapore.

In terms of big bucks, though, HSBC's Expat Report 2010 states that 45% of expats in Singapore make more than 265K per year. By comparison, according to SingStats, less than 10% of Singapore households annually earn at least 265K. Of course, this can be comparing apples and oranges in terms of methodology, etc.


I think HSBC only surveyed the Premier and Private Banking customers. Either that, or majority of my friends belong to the 55% expats who earn less than $265K per year.

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Postby carlsum1986 » Fri, 24 Sep 2010 4:14 pm

Girl_Next_Door wrote:
moto wrote:Yep, SMS' figures are based on SingStats... so it is possible to live a middle class life for 5K a month in Singapore.

In terms of big bucks, though, HSBC's Expat Report 2010 states that 45% of expats in Singapore make more than 265K per year. By comparison, according to SingStats, less than 10% of Singapore households annually earn at least 265K. Of course, this can be comparing apples and oranges in terms of methodology, etc.


I think HSBC only surveyed the Premier and Private Banking customers. Either that, or majority of my friends belong to the 55% expats who earn less than $265K per year.

+1

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x9200
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Postby x9200 » Fri, 24 Sep 2010 4:36 pm

Girl_Next_Door wrote:I think HSBC only surveyed the Premier and Private Banking customers. Either that, or majority of my friends belong to the 55% expats who earn less than $265K per year.

The Expat, magazine that seized to function beginning of this year had a survey from time to time also showing the wages level. The lowest range was like something all below 12k a month and there were 3-4 higher salary ranges above. Practically all the readers/subscribers placed themselves in the top range. I think the data from HSBC may be easily correct. Your friends belong likely to the same social group so this proves here not much and it should be enough to map the condos, recalculate the rent and see how it goes. Bet you will get most condos in the expensive areas - so who is living there and what price is paid and how much you need to earn to afford it?

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Postby Girl_Next_Door » Fri, 24 Sep 2010 4:48 pm

Well, based on an income of $265k/annum and assuming that 1/3 goes into rental, it means these expats pay at least $7K for their accommodation.

As at today from ., there are 21720 properties available for rent, based on rental between $2K - $7K. For rental above $7K, there are only 7671 properties available. I think it is fair to assume that majority of the expats are renting. Based on the supply, it seems like the supplies for properties above $7K should be increased, to cater for the high-earning expats.

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Postby sundaymorningstaple » Fri, 24 Sep 2010 5:56 pm

It would also depend on what demographic that "they" consider "Expat".

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x9200
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Postby x9200 » Fri, 24 Sep 2010 9:18 pm

Girl_Next_Door wrote:Well, based on an income of $265k/annum and assuming that 1/3 goes into rental, it means these expats pay at least $7K for their accommodation.

As at today from ., there are 21720 properties available for rent, based on rental between $2K - $7K. For rental above $7K, there are only 7671 properties available. I think it is fair to assume that majority of the expats are renting. Based on the supply, it seems like the supplies for properties above $7K should be increased, to cater for the high-earning expats.


These 7671 are the vacant ones or about to be vacant so there is also a large, unknown number occupied at the moment.

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Postby vozzie » Sun, 26 Sep 2010 7:42 am

We, a couple, live on a combined wage of under S$5k.
We live in a 3BR apartment in the Heartland and we eat locally.
Western meals, a bottle of plonk and taxis are only for special occassions.
But we survive.

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Postby SGBoyxxx » Mon, 27 Sep 2010 11:14 pm

even the locals..most of them..in fact bring back less than 3k still alive :lol:

but of course this will not enough if your lifestyles is different.

Everytime go pubs drink , dine in resturants....or own a car.

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longstebe
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Postby longstebe » Wed, 29 Sep 2010 5:47 am

vozzie wrote:We, a couple, live on a combined wage of under S$5k.
We live in a 3BR apartment in the Heartland and we eat locally.
Western meals, a bottle of plonk and taxis are only for special occassions.
But we survive.


Not heard that word for a long time. :)


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