Cost of Living in Singapore: A Complete Guide

Singapore is a desirable study abroad destination. This is because the study and living expenses in Singapore are much less than those in the USA and the UK. Not just affordability, Singapore is also home to an advanced education system and rich cultural and academic experiences.

Apart from top-notch education, Singapore is also praised for its fast-paced economic development and urban planning. This country also holds the reputation of being one of the safest for tourists and students; therefore, pursuing higher education in Singapore can be a life-changing decision.

Another reason why Singapore is one of the best destinations for seeking higher education is its cultural diversity. The country has four official languages, including English, Chinese, Tamil, and Malay, and hosts more than 55,000 international students every year. Read further to know about the cost of living in Singapore in detail.

What is the Cost of Living in Singapore for Indian Students
The cost of living in Singapore for Indian students varies based on the type of accommodation chosen, the location of the apartment, the food and transportation expenses, and the list of personal expenses. Let's find out the cost of living in Singapore for a single person in detail: 

Housing Costs in Singapore

Transportation

Utilities

Healthcare Costs

Entertainment and Recreation

Food and Dining

Average Tuition Fees in Singapore for International Students

The average tuition fees for international students studying in Singapore are as follows: 

Living in Singapore: Things to Know

If you planning to move to Singapore to pursue your higher education, here are five things to know:

• Living in Singapore is expensive for Indian students, and the accommodation costs are higher. The average cost is between INR 40,000 to INR 1 lakh per month. 
• Singapore has a relatively low-income tax and a GST of 7%, which is applicable to a majority of consumer goods. 
• Getting a student visa is necessary to pursue higher education in the country.
• Singapore has been regarded as the best in the world when it comes to reading and science. 
• Singapore has four official languages: English, Chinese/ Mandarin, Malay, and Tamil. 
• The climate of Singapore is hot and humid all year long as it is located close to the equator. 
• Singapore has the lowest crime rates, so it is safe for students to live and study. 
• Undergraduate and postgraduate students, if they serve the Singaporean government, can receive a subsidy for tuition fees. 
• You can start earning in Singapore before completing your chosen degree.
• Singapore offers various fun sports activities, including windsurfing and wakeboarding. 

Cost-Saving Tips in Singapore

If you wish to cut down on living expenses in Singapore, you can consider the following cost -saving tips that are proven effective:

• Keep a regular track of your expenses.
• Shop groceries and other utilities from apps that give discounts.
• Choose the M1 family line plans to cut down on mobile bills.
• Invest your money in savings accounts offering high-interest rates.
• Invest more in your CPF Special Accounts or Retirement Accounts (RA) to get maximum tax relief.

Singapore vs Other Countries: A Cost of Living Comparison

A brief comparison of the average cost of living in Singapore per month and other countries has been listed below in the table: 

Conclusion

Even if the cost of living in Singapore with rent is quite high, it is still an ideal study destination to access high-quality education. It is also an ideal country to witness a beautiful blend of Asian and European cultures and meet with students from diverse communities sharing similar dreams.