Welcome to our comprehensive guide on the cost of living in Singapore, a bustling city-state located in Southeast Asia. With a ReloMap score of 84/100, Singapore offers a high quality of life, robust economy, and vibrant expat community. In this article, we will delve into essential aspects of living expenses, visas, safety, healthcare, internet, coworking spaces, and more.
Introduction
Singapore, often referred to as the Lion City, boasts a unique blend of modernity and tradition, making it an attractive destination for expats worldwide. With its tropical climate, world-class infrastructure, and rich cultural diversity, Singapore is a melting pot that appeals to those seeking adventure, career growth, or simply a change of pace.
Housing Costs
Renting an apartment in Singapore can be quite affordable compared to other major cities. For a one-bedroom apartment located centrally, expect to pay around EUR 2,300 per month. If you prefer a more budget-friendly option outside the city center, a one-bedroom apartment will cost approximately EUR 1,800 per month. See full Singapore profile
Daily Expenses (food/transport/utilities)
Day-to-day expenses in Singapore are manageable but can add up quickly. Groceries will set you back around EUR 400 per month, while a meal at a restaurant typically costs EUR 20. Public transportation is efficient and affordable, with monthly passes costing approximately EUR 120. Utilities such as electricity, water, and internet are reasonable, averaging EUR 90-100 per month for basic usage. Compare with Dubai or Hong Kong](/destinations/hong-kong)
Internet & Coworking
Singapore offers high-speed internet connections, with an average speed of 230 Mbps. Monthly internet bills for unlimited broadband range from EUR 40 to EUR 60. Coworking spaces are abundant in Singapore and cost around EUR 180 per month for a flexible workspace. Compare with Tokyo
Healthcare & Insurance
Singapore's healthcare system is among the best in Asia, offering both public and private options. Public hospitals provide affordable care, while private facilities offer more personalized service at a higher cost. Basic health insurance is required for all residents, with monthly premiums ranging from EUR 50 to EUR 100 for individuals. Compare with Australia
Tax Implications
Singapore has one of the lowest corporate tax rates in the world, attracting numerous multinational companies. For individuals, income tax ranges from 0% to 35%, depending on your annual earnings. Singapore also offers a progressive tax system with special regimes for certain professions. Learn more about Singapore's tax system
Visa Options
Expats moving to Singapore typically require a Work Permit, which is valid for 1-2 years and can be extended. Dependents of work permit holders may also apply for relevant passes to live and work in the country. Find out more about visa requirements
Stay tuned for the second half of this comprehensive guide, where we will discuss safety, monthly budget breakdown, and answer some frequently asked questions about living in Singapore.
Tax Implications
Singapore's tax system is renowned for its transparency and low rates. However, expats should be aware of the various tax implications when relocating to this vibrant city-state.
Income Tax
In Singapore, income tax is progressive, with rates ranging from 0% to 35%. The first SGD 20,000 (approximately EUR 12,700) is tax-free, followed by rates of up to 35% for incomes above SGD 320,000 (approximately EUR 198,000). However, a progressive special tax regime applies to certain income, with rates ranging from 0% to 22%. See full Singapore profile
Personal Tax Allowances and Relief
Singapore offers several personal tax allowances and reliefs. These include the Not Ordinarily Resident (NOR) status, which provides a reduced tax rate for new residents in their first 5 years of residence. Additionally, there are various work-related deductions and reliefs available to expats.
Goods and Services Tax (GST)
The GST rate in Singapore is 7%. However, many goods and services are zero-rated or exempted from GST. Expats should be aware of these exemptions when budgeting for daily expenses.
Visa Options
Singapore offers several visa options for expats. The most common is the Employment Pass, which is valid for 1 to 2 years and allows the holder to live and work in Singapore. Other visas include the EntrePass, the Personalised Employment Pass (PEP), and the S Pass. See full Singapore profile
Safety & Quality of Life
Singapore ranks highly in terms of safety, with a score of 80 out of 100 on the Global Peace Index. However, LGBTQ rights are less advanced compared to other developed countries, with a score of 70 out of 100 on the International Lesbian, Gay, Bisexual, Trans and Intersex Association (ILGA)'s World Rainbow Index.
The average temperature in Singapore is 26.7°C, making it a tropical climate. The best months to visit are January, February, November, and December, when the weather is cooler and drier compared to the rest of the year.
Monthly Budget Breakdown
Here's a breakdown of the estimated monthly expenses for an expat in Singapore:
| Expense Category | Monthly Cost (EUR) |
| Rent 1BR Center | 2300 |
| Rent 1BR Outside | 1800 |
| Groceries | 400 |
| Restaurant Meal | 20 |
| Coffee | 6.5 |
| Beer | 9 |
| Gym | 70 |
| Transport | 120 |
| Internet | - (Included in utilities) |
| Coworking | 180 |
| Total | 3425.5 |
Note: The above costs do not include personal expenses, healthcare, or tax contributions.
Is Singapore Worth It?
Whether Singapore is worth it depends on individual circumstances and preferences. With high living costs, a tropical climate, and advanced safety, it may appeal to those seeking a vibrant city life with numerous opportunities for career growth. However, expats should be prepared for the complex tax system and consider the limitations in LGBTQ rights.