What is the Cost of Living in Singapore: Everything You Need to Know
Are you planning to study in Singapore? If so, you might be curious about the cost of living in the country. Singapore’s overall cost of living depends on various expenses, such as accommodation, food, transportation, etc. These expenses can be calculated weekly, monthly, or yearly. The average cost of living in Singapore for a student typically ranges between SGD 1,448 to SGD 2,405 (₹92,500 to ₹1,54,100) per month. This estimate includes accommodation, food, transportation, and other daily needs. To get a better idea of what to expect, keep reading the guide as we explore the different aspects of the cost of living in Singapore.
Factors Affecting the Cost of Living in Singapore for Indian Students
The cost of living in Singapore is influenced by different factors that all international students must consider. The following list of variables affects the nation’s overall cost of living for students.
- Educational Institutions: Your choice of course and program and the school or institution you enroll in, will impact the amount you pay for tuition fees. For instance, tuition for medicine and veterinary science degrees is significantly higher than for other disciplines.
- Accommodation Type: Living in university housing or renting a place off-campus are the top choices for student accommodation. University housing is easy to find but can be more expensive because it often includes utilities and possibly meals, leading to higher overall costs. Off-campus housing, particularly shared living spaces outside the city center, is generally more economical. Many students opt to share apartments as a common cost-cutting measure.
- Transportation Cost: Owning a car is much more costly than using public transportation. Efficient bus systems are available in most cities in Singapore. Student transportation passes are generally affordable in many locations, making them an excellent way to save money
- Lifestyle Patterns: How you choose to spend your money will have a significant impact on your monthly expenses. If you often travel and eat out, your living costs in Singapore will go up. On the other hand, you can reduce expenses by cooking at home and opting for affordable leisure activities.
- Insurance and Healthcare: The cost of living in Singapore is greatly affected by insurance and healthcare. Overseas Student Health Cover (OSHC) is mandatory for students and increases their expenses. Students must budget for healthcare expenses as they can be expensive without insurance while studying abroad.
Note: To make more informed decisions about studying abroad, you can join our study abroad program and consult with our expert education consultants.
Overview of the Average Cost of Living in Singapore Per Month
Singapore is one of the most expensive countries to live in. It becomes crucial for a student to manage finances while studying in Singapore. The monthly cost of living estimation covers housing, meals, travel, and other everyday necessities. Here is a detailed breakdown of the average living expenses in Singapore:
1. Accommodation Costs
When you arrive in Singapore as an international student, accommodation will likely be one of your biggest expenses. Most international students in Singapore opt for one of these three types of housing:
- University halls
- Shared flats
- Renting a private residence
University halls are popular due to their proximity to campus and often include meal plans, but they can be costly, and involve living with other students. Conversely, renting a private apartment with roommates can be more economical. However, it means taking on responsibilities like managing utilities and buying groceries.
Here is a summary table of the cost of living in Singapore:
| Accommodation Type | Monthly Cost (Singapore Dollars S$) | Monthly Cost (INR ₹) |
| University Halls | S$391- S$625 | ₹25,000 – ₹40,000 |
| Shared Apartment/Flat | S$140 – S$469 | ₹9,000 – ₹30,000 |
| Private Rental | S$782 – S$1251 | ₹50,000 – ₹80,000 |
2. Food and Grocery Expenses
Food is a crucial aspect of your budget as an international student in Singapore. While dining out at the various eateries and coffee shops is enjoyable, cooking at home can greatly reduce costs. Singapore has a variety of grocery stores, some affordable and others more high-end.
Here’s a table outlining the weekly grocery expenses you may incur:
| Item | Average Price (Singapore Dollars S$) | Average Price (INR ₹) |
| Milk (1 litre) | S$ 3.13 to S$ 3.91 | ₹200 to ₹250 |
| Bread (loaf) | S$ 2.19 to S$ 2.50 | ₹140 to ₹160 |
| Eggs (dozen) | S$ 3.13 to S$ 3.91 | ₹200 to ₹250 |
| Rice (1 kg) | S$ 3.13 to S$ 4.69 | ₹200 to ₹300 |
| Chicken (1 kg) | S$ 12.51 to 15.64 | ₹800 to ₹1000 |
| Apples (1 kg) | S$ 4.69 to S$ 6.26 | ₹300 to ₹400 |
| Bananas (1 kg) | S$ 3.13 to S$ 4.69 | ₹200 to ₹300 |
| Potatoes (1 kg) | S$ 2.35 to S$ 3.91 | ₹150 to ₹250 |
| Tomatoes (1 kg) | S$ 3.13 to S$ 4.69 | ₹200 to ₹300 |
| Onions (1 kg) | S$ 2.35 to S$ 3.91 | ₹150 to ₹250 |
| Dining Out (Casual Meal) | S$ 12.51 to S$ 18.77 | ₹800 to ₹1200 |
3. Transportation Costs
Transportation costs may vary depending on the mode of transportation chosen. In Singapore, many students rely on public transport like buses and trains to get around the campus as it is easily accessible and convenient in urban areas.
Public transport is beneficial as it enables students to travel to various locations such as schools and shopping districts. As a student, you may be eligible for discounts in multiple areas, making it even more cost-effective.
Here’s a table that gives an overview of transportation expenses for living in Singapore:
| Transportation Mode | Average Cost Per Trip (Singapore Dollars S$) | Average Cost Per Trip (INR ₹) |
| Public Transport (Bus/Train) | S$ 1.57 to S$ 2.35 | ₹100 to ₹150 |
| Gasoline (per litre) | S$ 2.35 to S$ 2.82 | ₹150 to ₹180 |
| Taxi Ride (per 10 km) | S$ 7.83 to S$ 10.95 | ₹500 to ₹700 |
| Car Rental (per day) | S$ 78.54 to S$ 156.07 | ₹5,000 to ₹10,000 |
4. Health Insurance and Medical Expenses
International students who wish to study in Singapore often need to have health insurance in place. This insurance is essential as it covers doctor visits, emergency medical treatments, and prescription drugs, reducing out-of-pocket expenses.
Having adequate health insurance ensures access to medical services at reduced costs. It helps students manage routine and emergency healthcare expenses during their stay in Singapore.
Here’s an overview of the health insurance costs for living in Singapore for international students:
| Expense Type | Average Cost (Singapore Dollars S$) | Average Cost (INR ₹) |
| Annual Health Insurance | S$ 469.80 to S$ 1,251.17 | ₹30,000 to ₹80,000 (depending on the insurance plan and coverage) |
| Doctor Visit (with Insurance) | S$ 12.52 to S$ 31.34 | ₹800 to ₹2000 (depending on the type of consultation and insurance coverage) |
5. Utilities, Communication, and Internet Charges
If you reside off-campus in Singapore, it is important to consider the costs of utilities like electricity, water, and heating. These are essential for your daily comfort and well-being. Along with utilities, you will need a reliable internet connection and a mobile phone plan.
The table below shows the average monthly expenses in Singapore for utilities and communication:
| Expense Type | Average Monthly Cost (Singapore Dollars S$) | Average Monthly Cost (INR ₹) |
| Utilities (electricity, water, cooling) | S$ 141 to S$ 235 | ₹9000 to ₹15,000 (depending on the size of the apartment and usage) |
| Mobile Phone Bill | S$ 15.66 to S$ 31.34 | ₹1000 to ₹2000 (for standard plans) |
| Internet Connection | S$ 39.16 to S$ 62.96 | ₹2,500 to ₹4000 (depending on the broadband plan) |
Note: These estimates provide a general idea of monthly expenses and may vary depending on your usage and service providers.
6. Entertainment and Leisure Costs
Life as a student in Singapore is vibrant. It offers various entertainment, sports, and outdoor activities. Students can enjoy free outdoor pursuits such as hiking, exploring national parks, and visiting beaches. However, recreational activities usually come with a cost. Watching movies at the cinema, dining out with friends, or participating in social gatherings can significantly add to monthly expenses.
These estimates vary based on personal preferences and how frequently you engage in leisure activities. Planning can help you enjoy a balanced and enjoyable student life in Singapore without overspending. Here’s an overview of the cost of living in Singapore for entertainment and leisure activities:
| Activity Type | Average Monthly Cost (Singapore Dollars S$) | Average Monthly Cost (INR ₹) |
| Movies & Dining Out | S$ 94 to S$ 156.66 | ₹6,000 to ₹10,000 |
| Gym Memberships | S$ 109.14 to S$ 141.54 | ₹7,000 to ₹9,000 |
| Sports or Fitness Classes | S$ 78.54 to S$ 125.27 | ₹5,000 to ₹8,000 |
7. Miscellaneous Expenses
In addition to the essentials, you have to account for other costs such as clothing, personal care items, and study materials. These expenses can fluctuate depending on individual requirements. However, budgeting for them ensures you are prepared for all aspects of student life in Singapore.
The table below depicts the miscellaneous average living expenses in Singapore for international students:
| Expense Type | Average Cost (Singapore Dollars S$) | Average Cost (INR ₹) |
| Clothing and Personal Care | S$ 156.66 to S$ 235 | ₹10,000 to ₹15,000 |
| Study Materials/Books | S$ 78.54 to S$ 156.66 | ₹5,000 to ₹10,000 |
Average Cost of Living in Singapore for Indian Students
As an international student in Singapore, managing various living expenses is essential. Without including rent, the average monthly cost of living in Singapore is around S$ 1526 (₹97,563). This covers everyday needs such as food, healthcare, and transportation.
Here is an overview of the key monthly living expenses in Singapore:
| Element | Approximate Cost (Singapore Dollars S$) | Approximate Cost (INR ₹) |
| Monthly Accommodation Costs | S$ 1564.28 | ₹1,00,000 |
| Monthly Food & Groceries | S$ 188 to S$ 376 | ₹12,000 to ₹24,000 |
| Monthly Transportation Expenses | S$ 141 | ₹9,000 (monthly bus pass) |
| Monthly Utilities Bill | S$ 156.66 | ₹10,000 |
| Monthly Healthcare & Insurance | S$ 94 to S$ 282 | ₹6,000 to ₹18,000 |
| Monthly Leisure & Entertainment Costs | S$ 188 | ₹12,000 |
How to Reduce Your Living Expenses in Singapore?
Living in Singapore as an international student can be expensive. However, there are several ways to manage your costs effectively. Here are some tips to help you reduce your living expenses in Singapore:
1. Shared Accommodation
Sharing accommodation with other students is one of the most effective ways to reduce the average cost of living expenses. Renting an apartment with roommates is often much more affordable than living alone or opting for on-campus housing. By splitting the rent and utility bills, you can significantly lower your monthly costs. Therefore, shared accommodation is a smart choice for budget-conscious students.
2. Using Public Transport & Healthcare
Owning a car can be expensive due to fuel, maintenance, and parking fees. Instead, make use of Singapore’s well-connected public transport systems. Most cities offer discounted student passes for transportation. It provides a budget-friendly option for commuting around the city. Traveling by buses, trains, or trams can save a lot of money on transportation. Furthermore, to meet any unforeseen medical expense, try to use public healthcare as much as possible to save money.
3. Managing Utility Costs
Utility bills, such as energy and water may increase monthly expenses if you are not careful. Simple habits like turning off lights when not in use, moderating your heating and cooling, and being conscious of water consumption can help reduce these costs. These small adjustments can impact your monthly budget, helping you save more in the long run.
4. Reducing Grocery and Meal Expenses
Frequent eating out can quickly become expensive, so cooking at home whenever possible is a great way to save money. Buying groceries in bulk and taking advantage of discounts can significantly lower your food costs. Meal planning and sticking to a budget while shopping will help prevent overspending. Consider sharing grocery expenses with roommates to reduce the cost of living in Singapore.
5. Scholarships on Education
Explore scholarship options while applying to universities in Singapore. Many universities in Singapore offer scholarships for international students based on merit or financial need. In addition, the Indian government scholarships for studying abroad also help students fund their studies. These scholarships will help you pay the tuition fees and meet the overall financial expense of studying in Singapore. You must check the eligibility criteria for scholarships and apply timely.
Also Read: How to Get Scholarship to Study Abroad
Conclusion
Effective money management is essential when studying abroad. Create a budget that covers your monthly cost of living in Singapore. This will help you identify areas where you might be overspending, and allow you to make adjustments. Developing this habit will help you maintain control over your finances in the short term and foster financial discipline. Ultimately, it contributes to a more fulfilling and stress-free academic journey when you strive to master your finances while studying abroad.
If you are planning to study business management, check out our guide on MBA in Singapore, Discover the top colleges, courses, tuition fees, and more.
FAQs
Answer: Yes, Singapore is one of the most expensive countries in the world. Monthly costs and expenses are higher than in other countries.
Answer: The monthly cost of living in Singapore is estimated to be around S$ 1,542 (approximately INR 94,920.21) for a single person.
Answer: The minimum wage needed to sustain a livelihood in Singapore typically ranges from S$ 1,207 to S$ 1,407 (₹77,030.62 to ₹89,865.78). Personal lifestyle choices determine the minimum wage criteria.
Answer: Singapore is considered one of the best places to study abroad due to its high-quality education system, strong global rankings, modern infrastructure, and safe, multicultural environment. These factors have led to a shift in students’ preferences towards the country. The widespread proficiency in English among the local population has made Singapore extremely welcoming to students.
