Tag Archives: cost of living

More than half of Singaporeans felt the pressure over the heavy burden of raising a family and the higher cost of living. Nearly 30 percent of the respondents were unable to meet their personal aspirations due to insufficient income.

In 2004, the average price of formula, including that for infants and for babies six months and older, was $22.66 for a 900g tin. It has climbed steadily to hit $50.01 in October this year from an average of $44.30 last year, according to figures obtained recently by The Straits Times from the Department of Statistics.

For Singaporean Fahmi Rais, 46, who lives in Johor and commutes across the border daily, the toll increases will dent his disposable income. Mr Fahmi, who owns a cafe in Johor, said that as travelling between Singapore and Malaysia - whether for work or eduction - has become a "bread and butter" necessity, people will just have to swallow the increase.

The Republic is now the fourth most expensive city in the world for expatriates and the second most expensive in Asia, according to the latest cost of living survey by Mercer. Singapore gained one spot from last year to come in fourth, behind two African cities – Luanda in Angola and N’Djamena in Chad – and Hong Kong.

The results show that 31 percent said that their salary can cover their basic needs and some small non-essential luxuries. 42 percent said it is only sufficient to cover their basic needs. However, 23 percent said they are struggling to make ends meet on the salary. Of this group, 70 percent earn less than $3000 per month. Only 4 percent said they were very comfortable with their salary. When asked how much they felt the salary should increase by to be satisfied, 66 percent of said it needs to be between 10 – 20 percent. According to Singapore Statistics, the average monthly wage in Singapore was $4,998 in Q4 of 2013. However, 53 percent of respondents to our survey identified $6,000 as the ideal monthly salary to deal with the current cost of living in Singapore.

SINGAPORE — Having higher aspirations in life is a reason why Singaporeans find the cost of living here expensive, despite real wages having gone up, said Defence Minister Dr Ng Eng Hen yesterday (May 10). But Singapore has to ensure that opportunities to get out of poverty must not be priced out and remain abundant to fulfil the dreams of younger Singaporeans, said Dr Ng.

ASSISTANT MANAGER Raymond Koh, 38, is a man with many worries. He just sold his Housing Board flat below valuation to upgrade to a bigger flat for his growing family. He worries about the long hours his daughter, 14, spends in school; and about the primary school his six-year-old son will get into. His car's certificate of entitlement runs out in 21/2 years and he wonders if he will be able to afford another one. He frets about growing old, his children's future and whether they will have a better standard of living than he is having. "It will be very tough for them, that's for sure, because their income and the things everybody would want (like a house or car) don't match any more. The gap is very big," he says.

Take Mr Alan Wong, who worries about the future of his antique and vintage goods trading and restoration shop, Yasashii Trading, should any of his workers retire. "We face a lack of manpower because many Singaporeans do not have the skills needed to do restoration work," he said. The shop in Bukit Merah has three employees, all in their 60s and 70s. "Without them, I might have to stop the restoration part of my business and focus solely on trading antiques in the long term," added Mr Wong, 49.

Singapore may be the world's most expensive city for expatriates. But the cost of living for the average resident, which comprises Singaporeans and permanent residents, is much lower than many other global cities such as Hong Kong. A study by the Asia Competitiveness Institute (ACI) showed that Singapore is ranked 60th among 109 major cities for the average residents' cost of living. ACI said its study also showed that Singapore is the costliest city for expatriates -- in line with findings from a recent Worldwide Cost of Living survey by the Economist Intelligence Unit. This was largely due to the strengthening of the Singapore dollar against the US dollar in the last few years.ACI said the cost of living for expatriates is higher than that of average residents as it also reflects the lifestyle choices of expats. These include eating at expensive restaurants, living in prime districts and sending their children to international schools.

Cost of living in Australia has been a perennial topic amongst both our friends, families, and readers alike. After I saw this BBC article about how SG is the world's most expensive city, I'd better caution those of you from there who may be thinking of visiting or migrating to Oz. Not everything is cheaper here!