How Much Does It Cost to Live in Singapore? Here's a Full Estimate

Last updated on February 27th, 2025 at 11:01 am

Singapore is one of the most developed countries in Southeast Asia, known for its charm as a financial hub and its rich cultural diversity.

The country has become a top destination for many people, whether they are visiting or planning to settle there. However, if you’re considering living in Singapore, one of the biggest questions is, How much does it cost to live there?

While Singapore offers plenty of opportunities, the high cost of living can be a significant challenge. In this article, we’ll discuss the cost of living in Singapore and share some tips on how you can save money while living or vacationing there.

Living Necessities in Singapore

As a developed country, Singapore offers a variety of living needs, which results in relatively high living costs.

However, the minimum wage in Singapore is substantial, at around USD 4,350 (about IDR 64 million), which helps residents cover these expenses. When compared to Indonesia’s minimum wage, the difference is quite striking.

If you plan to live in Singapore, it’s important to know the different needs you’ll have to meet, such as housing, food, transportation, shopping, utilities, education, insurance, entertainment, and other factors.

Daily Living Costs in Singapore

Being a developed country, the cost of living in Singapore is indeed high. However, with a sufficient income, you can easily meet all your needs. Here are some key categories of expenses to consider:

Category	Estimated Cost (SGD)	Estimated Cost (IDR)
Meal cost	SGD 3 - 8 per meal	IDR 33,000 - 88,500
Transportation	SGD 153 per month	IDR 1,700,000
Insurance	SGD 1,920 - 3,200 per year	IDR 21,000,000 - 35,000,000
Utilities (Electricity, Water, Gas)	SGD 200 - 400 per month	IDR 2,200,000 - 4,400,000
Internet	SGD 30.18 - 40.30 per month	IDR 330,000 - 442,000
Entertainment &  Emergency Fund	SGD 600 per month	IDR 6,600,000

Worker

For workers, basic needs such as housing, food and transportation are the main considerations. Renting a place in the suburbs, as suggested by gov.sg, can cost around S$600 to S$800 per month. For those who live alone, more affordable housing options can be an efficient solution.

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Family

The estimated cost of living for a family in Singapore involves additional variables, such as a place to live recommended by The Housing & Development Board (HDB), with rents of around S$3,000 or equivalent to Rp33.9 million per month. While food costs range from S$3 to S$10 per meal, must be accumulated according to the number of family members.

Student

For students, finding an efficient solution is key to dealing with living costs. Campus dormitories, at around S$200 or Rp2.2 million, can be an affordable option, especially if students live close to the campus area. Adjustments to transportation costs may also be needed, taking into account study needs such as books, lab work, and other academic needs.

Cost of Living in Singapore 1 Day

The cost of living per day in Singapore can vary depending on each individual's personal decisions and preferences. Eating at a food stall or food court is estimated to cost between SGD 5 - SGD 20 per person, while daily transportation by MRT, bus, or taxi can reach SGD 1 - SGD 5, plus a fee per kilometer. 

For those staying in hotels or hostels, accommodation costs per night range from SGD 50 to SGD 300, depending on the class and facilities. For entertainment and other activities, such as cinema tickets, museums, or tourist attractions, costs can reach SGD 10 to SGD 30 or more. 

Cheapest Areas in Singapore

Singapore is known as one of the countries with the highest cost of living in the world. Therefore, looking for the cheapest areas in Singapore may not be entirely relevant, as Singapore is one of the developed countries with a high cost of living.

However, Singapore does have some more affordable housing areas, but the cost of living is still generally high. Some areas that may have more affordable rents or property prices include Woodlands and Jurong. 

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1. Woodlands

Woodlands is located at the northern tip of Singapore and is one of the more affordable residential areas compared to some parts of the city centre. The area has a number of public amenities, such as a shopping centre (Woodlands Regional Centre), parks and schools.

The availability of more land around Woodlands can affect property prices and the cost of living. The greater distance from the city center can create more affordable rental prices and property prices.

2. Jurong

Jurong is located in the southwest of Singapore and is known as a major business and industrial hub. Despite its rapid development, some parts of Jurong, such as Jurong West and Jurong East, may offer more affordable housing options compared to the more central city centre.

As an industrial area, Jurong has many business centers, shopping malls and educational facilities. However, property prices and living costs in Jurong may be lower compared to the main business districts in the city center.

It’s worth remembering that the “relatively cheap” aspect can vary from person to person depending on their personal needs and preferences. While Woodlands and Jurong may offer some more affordable housing options, the overall cost of living in Singapore remains high compared to many other countries in the world.

Cost Saving Tips for Living in Singapore

Even though the cost of living in Singapore is high, there are several ways to reduce your expenses. Here are a few tips to help you manage your budget:

1. Cook at Home, It’s Cheaper!

Eating out can be expensive. To save money, try cooking at home. Supermarket ingredients like vegetables, eggs, and meat are reasonably priced, and cooking at home is much more affordable than dining out.

2. Use Public Transportation

Singapore has an excellent public transportation system. You can subscribe to public transport for about SGD 153 per month, which is far cheaper than using taxis daily.

3. Choose Affordable Housing

If you're a worker or student, consider renting in more affordable areas like Woodlands or Jurong, where rental prices are lower than in the city center.

4. Avoid a Lavish Lifestyle

Singapore offers plenty of shopping and entertainment options, but to save money, avoid excessive shopping or visiting expensive entertainment venues. Instead, try free or low-cost activities like walking in the city parks or visiting museums that offer free admission.

5. Earn Extra Income

In Singapore, there are many opportunities for side jobs or internships that can help supplement your income. If you’re a student or freelancer, take advantage of these opportunities to boost your earnings.

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While the cost of living in Singapore can be quite high, with proper planning and by following these money-saving tips, you can better manage your expenses. Planning ahead and making smart choices will allow you to enjoy everything that this wonderful city-state has to offer without overspending. If you're looking to send money to Singapore, Easylink offers an affordable way to transfer money, starting at just IDR 30,000. So why wait? Send money to Singapore with Easylink now and enjoy a fast, easy, and cost-effective process!