Singapore 5th most expensive city in the world

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Singapore 5th most expensive city in the world

Post by nutnut » Thu, 25 Jul 2013 10:41 am

For those who constantly ask "Is $100 a month enough to live off" this is the 5th most expensive city IN THE WORLD... so think about it like that and try again.


http://www.zerohedge.com/news/2013-07-2 ... nsive-city
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Post by Wd40 » Thu, 25 Jul 2013 10:46 am

Well, a major component in that cost index is rent and that particular article is looking at luxury apartments.

If you can do with a 2 bedder HDB, you will be just fine. In fact you might actually do well compared to most developed countries, if you negotiate a good pay package. :wink:

I mean compared to GBP 50K in london, I would prefer SGD 100K in Singapore :)

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Post by bgd » Thu, 25 Jul 2013 10:54 am

Only 5th? Feels like it should be higher, especially after a night out. :wink:

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Post by Wd40 » Thu, 25 Jul 2013 11:00 am

The difference though is the job market in Singapore is pathetic and contractor rates even more pathetic, downright slavery.

London, NY etc its much easier to get jobs quickly if you lose one and contractor rates are awesome. So its better to be a contractor in those places.

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Post by Steve1960 » Thu, 25 Jul 2013 11:13 am

I think it does really depend on the life style. Yes rent is expensive so we went HDB in central to get a good location but keep the cost down.

I think food is reasonably priced. We went to the local wet market this morning and bought 2 weeks worth of meat, fish and seafood plus a weeks worth of vegetables and spent 120 dollars. We eat at home 95% of the time because of our small daughter so this works for us. I doubt we even eat out once a month.

MRT and taxi's are pretty cheap and the only time I have been concerned about not having a car was when we needed to take our daughter to the hospital urgently. It was only a 5 minute wait for the taxi but seemed like a life time! Had it been raining it could have been a much bigger issue of course.

We choose to make full use of the air con at home but the electricity bills are not huge and definitely cheaper than Philippines for instance. The electricity bill for our 3 bed apartment here with four air con units is the same as we were paying in Manila for a one bed apartment with one air con unit. Water and waste disposal seems pretty cheap too.

I find the biggest potential drain on finances to be the Singapore shopping mentality i.e. thats all there is to do at the weekends. We fell into that for a while but no longer. Now we take our daughter swimming or playing at the Botanic Gardens etc.

Looking at my own expenditure the move to Singapore has been hugely beneficial although I have to say my retirement plans will take us back to the Philippines when the time comes as cost of living will be more important on a pension.

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Post by sundaymorningstaple » Thu, 25 Jul 2013 11:57 am

^^This.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by nakatago » Thu, 25 Jul 2013 12:33 pm

C'MON, SINGAPORE! NOTHING BUT NUMERO UNO FOR SINGAPORE! YOU CAN DO IT!!!!
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Post by Barnsley » Thu, 25 Jul 2013 4:07 pm

nakatago wrote:C'MON, SINGAPORE! NOTHING BUT NUMERO UNO FOR SINGAPORE! YOU CAN DO IT!!!!
:cool: :cool:
Life is short, paddle harder!!

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Post by Hidy Ho » Thu, 25 Jul 2013 5:17 pm

nakatago wrote:C'MON, SINGAPORE! NOTHING BUT NUMERO UNO FOR SINGAPORE! YOU CAN DO IT!!!!
Not yet ... I gotta put in at least two more years before I can count my piggy bank to see if I can run away to retire somewhere else (like Steve1960 but most likely I'm headed up north)!!!!!!!!

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Post by BedokAmerican » Wed, 31 Jul 2013 11:32 am

The most surprising place on the list was #4, the city in Chad (Africa).

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Post by sundaymorningstaple » Wed, 31 Jul 2013 12:51 pm

Luanda, Angola is right up there as well. My daughter's been working there for the past 1.5 years.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by Wd40 » Wed, 31 Jul 2013 12:59 pm

Those are the prices to live like an "expat" in those cities. These poor African cities are not as globalized as some of the emerging 3rd world countries and hence if you want expat items then due to the supply/ demand economics the prices are higher than those of developed countries.

In the same vein, if you dont visit starbucks/spinelli or Harrys, Singapore isn't that much of an expensive country it is made out to be.

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Post by zzm9980 » Wed, 31 Jul 2013 2:21 pm

Wd40 wrote: In the same vein, if you dont visit starbucks/spinelli or Harrys, Singapore isn't that much of an expensive country it is made out to be.
Singapore is cheap for Singaporeans (housing, education) and expensive for foreigners (Same two points). Those who try to live a hybrid somewhere in between like you and I get to deal with a mix of it. I'd still call it extremely expensive and I'm lowering my quality of life living here by trying to avoid the expenses.

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Post by nutnut » Wed, 31 Jul 2013 2:50 pm

Malaysia is considered 3rd best place to retire in the world, makes your journey to retirement only a coach trip away! ;)
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Post by the lynx » Wed, 31 Jul 2013 2:56 pm

I don't know what makes living in Malaysia an interesting prospect. Sure it is cheap and it has very good retirement/expat scheme for the rich and foreign. But it is a simmering world of corruption, income gap, government inefficiency and socio-racial dissension. The upper middle class and below are obviously living in that world. Being a pensioner there is no heaven either.

Perhaps the expats, the aristocrat and the rich do have their bubble to live in, where everything is smooth, safe and isolated. I grew up there and at this point, I am not keen to live/retire there unless I know I will live in that bubble myself :(

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