Singapore ranks priciest city in Asia

By Minh Nga   July 3, 2024 | 05:00 pm PT
Singapore ranks priciest city in Asia
People are seen inside a shopping mall complex at the Marina Bay Sands in the center of Singapore, May 2023. Photo by VnExpress/Minh Nga
Singapore has been ranked the costliest city across Asia so far this year, according to Numbeo, a global database on cities and countries.

People spent just over US$1,000 per month on average in Singapore without rent in the first six months of this year, and the figure is nearly $4,000 for a four-member family, the Cost of Living Index from Numbeo, whose database is user-contributed, shows.

In comparison, Singapore is 150% more expensive than HCMC without rent and the rent in Singapore is, on average, 420% higher than in HCMC.

On average, it costs US$2,600 per month to rent a one-bed apartment in the city’s center and US$2,000 for apartment outside the city’s center.

Rent accounts for as much as 44.4% of the monthly expenses in Singapore.

The city state is followed by Hong Kong, Tel Aviv and Seoul.

According to Numbeo, the cost of living in Hong Kong is 8.5% lower than in Singapore (without rent), and when including rent, it is 8.7% lower.

In Southeast Asia, Singapore is followed by Bangkok and Manila.

HCMC arrives fifth while Hanoi stands seventh among the most expensive cities to live in the region.

A person’s estimated monthly cost in HCMC is US$500 without rent and the cost stays around US$1,700 for a family of four. The respective figures in Hanoi are US$490 and US$1,700.

Cost of living including rent in Hanoi is 8.2% lower than in HCMC and rent prices in Hanoi are 20.6% lower than in HCMC.

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