Singapore Edition 2023 Part 1 - The Real Cost of Living (Basic Needs)
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- เผยแพร่เมื่อ 4 ส.ค. 2024
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Today's video:
Singapore has prospered and flourished in the last decade, and putting its name on the world map for many things, being a clean and green city with world-class infrastructure. No wonder it attracts so many talents from all parts of the world, and continue to develop extensively in recent years.
However, that comes at a cost. Literally, the cost of consumer items have gone up, and Singapore has earned its tag of being one of the most expensive cities in the world to live in. But is it really that expensive to live in Singapore?
Hi, my name is John, and I am a true blue Singaporean who has lived in Singapore for more than 40 years. Together with my wife Fran, a Malaysian who has resided in Singapore for the past 12 years, we retired in 2020 at the age of 40 in Singapore.
In this video, we will share with you the latest updates on the cost of daily consumable items in Singapore, and provide you a true perspective of the various categories of basic needs an average Singaporean consume. Fran and I have run the ground and scouted the latest costs around Singapore, to provide you a comprehensive price update around various kinds of daily necessities.
Towards the second part of the video, we will round up the numbers and provide you 2 types of typical budgets that the average Singaporeans have for their basic needs. We will also paint a realistic picture of what prices are like post-Covid.
The prices quoted are in Singapore dollars and are kept as accurately as possible.
We hope you enjoy watching this video, and do let us know in the comment section if you like it!
With lots of love - Fran and John
Timestamps:
00:00 Cost of Living in Singapore
01:17 Inflation in Singapore
02:14 Category 1: Food
11:07 Category 2: Groceries
13:31 Category 3: Transport
15:33 Category 4: Accommodation
24:01 Category 5 Healthcare
24:37 Budget Building
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Singapore Edition 2023 Part 2 - The Real Cost of Living (Wants)
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Related Links:
www.singstat.gov.sg/modules/i....
www.singstat.gov.sg/find-data...
www.transitlink.com.sg/adult-...
www.bloomberg.com/news/articl...
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Central Provident Fund Singapore
TransitLink
Housing Development Board of Singapore
Bloomberg
Grab Singapore
Property Guru Singapore
MoneySmart SG
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It is gratifying to see that MoneySmart, an established financial blog in Singapore, published an article about the cost of living in Singapore recently and it matches up with our video! In terms of the categories and the items mentioned.
blog.moneysmart.sg/budgeting/cost-living-singapore/
My grandpa bought a condo at Jurong East area in 1986 costs S$ 120k. At this year, 2024, my condo at retail price is S$ 1.5m
That's inflation at work
Wow
This is the most detailed video I've seen and great energy you guys have. The research is seriously very nice and in detail. Looking forward for more such videos.
Thank you very much!!!
Loving your videos guys, keep it up!!
Thank you!!!
Excellent videos. Properly substantiated. Very high quality contents
Thanks Dave!
Thank you so much for this ❤
It's our pleasure to make videos that resonate with people /give info
Thank you for your all the hard work put into making this video. I salute you
Thank you so much for your recognition of the hard work done. We appreciate it very much.
Absolutely fantastic video. Very detailed and on point. Spot on
Thank you!
I just wanted to express my gratitude for your incredible content and the value you bring to your viewers. As someone from Bangkok, Thailand who is planning to send my son to Nanyang Technological University (NTU) in Singapore next year, I have been searching for a reliable source of information on the cost of living for foreign students .
When I stumbled upon your channel, I was immediately impressed by your expertise and attention to detail. Your videos have been immensely helpful, and I believe that a video on the cost of living for foreign students would be incredibly valuable to myself and many others in a similar situation.
Thank you for considering my request, and for all that you do to help students and their families make informed decisions about education. I am eagerly looking forward to your next video.
Hi Attaporn, thank you for watching our videos!
For accommodation at NTU, the hostel rates are available from the university. As for the rest of the cost of living for your son, you can take reference from this video. So this video is on Basic Needs. Stay tuned for Part 2 where we will be covering on Wants (restaurants, shopping, electronics etc).
This is very informative!
Glad you found it informative! ❤️
great work. thanks for the info.
Thank you for watching our videos!
Thank you so much!! I surprised that the cost of living in Singapore is about 1.8 times more expensive than Tokyo in Japan! As a Japanese, weak Japanese YEN makes poor and poor... Three decades economic depression is catastrophic... I am struggling to live myself. I astonished that friends all over the world make much bloody efforts like to make their life better and grateful.
I hope that we shall never take care cost of living in rest of our lives!!
Take care!
Thanks so much ❤❤❤❤
You are most welcome!
Thank you very much for your video
Thank YOU for watching!
very nice!
Thank you!
Yeah..the food price still about the same around 10 yrs ago. I love geylang food court. And those hawkers spoke good malay too..gerehh sehhh..rindu singapore..
We used to live at Joo Chiat area, so Geylang Serai was our frequent haunt for food and other stuff. Loved that place!
It will certainly be useful if you guys can film a video of living expenses in various parts of Malaysia like JB, Melaka, KL, Batu Pahat, Muar, Ipoh, Alor Star, Ipoh etc.
Fantastic suggestion! Stay tuned!
Hi Andrew! We took your feedback & we've done Ipoh & Alor Setar so far. Hope you enjoyed the videos!
@@corporatebreakoutcouple I watched both the Ipoh and Alor Setar videos, good information indeed. I do think the cost of accommodation is a very important factor when one decides to retire at a certain town. Good if you guys can also talk about the pros and cons living in that particular town. For example, like in the Alor Setar video, while the food and accommodation are cheaper than in Ipoh or Penang but the lack of Chinese food and entertainment might deter some of us who cannot live without Char Kway Teow or Wanton Noodles. Malaysia towns are full of gems for us to discover, cheers
@@Andrew-uh9xs we think at the end of the day, it does boil down to preferences of the individual. We believe that one is always partial to their hometown, especially the food! 😍
Foods are relatively cheap in Singapore.
Especially the hawker food
Hi John & Fran, understand that you couple also do property investment for supporting yr retirement. Perhaps, you can elaborate on how to achieve it and what's yr property portfolio. Thanks 🙏
Hi Kah Siong. Thank you for reaching out with this excellent question.
The principles of real estate investing is to build a positive cash flow from achieving a net positive income (net operating income) by leveraging good debt.
With regards to our property portfolio, we started back in 2013. We will share more on our property journey either in a video or a course, as real estate investment is too complicated and complex to put into a word form.
Great video! Rich couple in Penang next pls lol
Haha! Plenty of rich couples in Penang, but they are still working. 😂
thank you! i spent around SGD 3000 per month, which is exactly the same with your average consumer!
That's great to know!! Thanks for the confirmation ❤️
Compared to where I live (Asian), commodity price in Singapore is actually not expensive if not cheap, especiially consider the income to cost ratio.
Yes, that is correct
alot of effort.
Thank you
Thank you! May I know if foreigners are allowed to purchase hdb flat? If no what are the cheaper options to purchase own stay property? Thanks!
HDBs are only for purchase for citizens and 2 PR persons who have been PR for at least 3 years. Foreigners can purchase condominiums.
@@corporatebreakoutcouple thanks.
You dont show USD?
What job is suit for this 2 personas, i love to visit singapore, and i feel the happy people there, than curious what they option for living there..
Housing options will be renting a HDB flat, condo or landed houses
Very impressive : though sg expensive, govt is great. Safe 👍
Agreed
Cost of living seems low. Is retirement visa easy to get?
The MM2H visa is most likely the one you will be applying for. There are certain requirements that you need to meet and you can go to imi.gov.my to check it out.
The loud dinging was getting a bit annoying. Otherwise a very informative video.
Apologies for the sound. We have removed the sound for future videos. Thanks for watching the video!
@@corporatebreakoutcouple Wow thank you for your response. Another thought - pricing information on items such as housing, medical and education seems very brief compared to food. Would be great to learn more about those items too.
@@ziyou3494 that's because those information can easily be found online and it varies from what the individual needs.
I can find even cheaper food for around $2.80 for Mee sim and $3.50 for most of the food you are showing here. Your $4 is shocking to me even in a hawker center.
This video isn't about the cheapest food in Singapore. When one does a cost of living video, you have to take the average. Food at Bedok interchange is cheaper than food at Marine Parade hawker centre. Food at Maxwell is more expensive than food at Boon Lay. So $4 is the average price and we do go on the ground around Singapore to check the food prices. Why? Because people live across Singapore and they don't just eat where they live, right?
Luxury is Over Rated
eh, this video necessary meh. The fact that you retired to Malaysia mean its all true ma 😂
You would be surprised to know that we actually spend more in Penang
Cars, hahaha, cars are 4 times the price of Japan , American
Unfortunately yes. Due to the COE
If you assumed a monthly income of 5K - you won't be qualified for a 3 room HDB purchase directly from HDB. Also, you probably won't be getting a 3 room flat either - more like a 4 room or larger. Please provide a more realistic picture instead of trying to show a rosy picture. BTY, hawker foods are in general not very heathy in the long run - too oily and too much salt.
Thanks for your comment. According to MND (ministry of national development), based on a recent 29 Nov 2022 article from their newsroom, there is no income restriction for the purchase of a resale HDB flat on the open market.
When it comes to the income ceiling of new flats (either BTO or EC), the income ceiling varies from SGD7000-14000 household income for BTO. EC will be household income SGD16000.
Feel free to visit the MND article:
tinyurl.com/2p886jbf
I am single and 51years old Ghanaian. I have made a lot of huge investment and want to relocate to Singapore so i can have quality medical care . Can i live comfortably on a 4000 dollars a month budget that will include everything?
In order to stay in Singapore, you need a work permit or be a citizen or permanent resident.
Good jobs
Thank you!
singapore is dirt cheap compared to europe.
Hi! We would love to hear more on this. Would you like to share more? Dirt cheap in what ways?
@@corporatebreakoutcouple everything apart from supermarket prices is cheap in sg.
@@Al-vw8qt apart from real estate and cars, perhaps?
@@corporatebreakoutcouple SG real estate is cheap compared to Europe and America. Cars and supermarkets are expensive in comparison though
@corporatebreakoutcouple even real estate is cheap compared to the big cities in Germany for example. Especially considering the low income tax and the fact that there are basically no other social security charges.
Unsubscribed. Hate the DING sound as it is so jarring and the voices of the host are quite soft in relation to that DING sound. We get the illustration , why don’t just do a quick slide through instead of one by one introducing the food
We are sorry to see you go. We cater to a large international audience so when making our videos, we want to be all inclusive. We have taken your feedback into consideration. Have a great day!
The jollibean name is a ripoff of Jollibee fastfood's name.
Please research your facts before making such statements.
@@corporatebreakoutcouple what's need to be researched? It's so obvious and even a primary one student can tell that.
@@raikey2176 hahahaha!!!! If you so say so. Please continue to make such smart statements like this
@@corporatebreakoutcouple don't tell me they just come up with that almost the same name and spelling and it's just a coincidence. So you're telling me those businesses that file business name infringements like this are not smart?
Singapore is cheap compared to Sydney.
Yup, it's all relative isn't it?