In this post we will analyse how long you could rent a property in other cities for the price of one month’s rent in Singapore
If you live or have traveled to Singapore, you probably have noticed one thing: renting is not necessarily affordable in the country. Singapore is today one of the most attractive places to work and invest in the world, and it real estate market reflects that.
Singapore is one of the most dynamic trading and investing hubs in Asia. It currently attracts expats from all over the world for several reasons. Its high salaries and low tax rates combined with high standards of living certainly contribute to the country’s reputation. This, however, impact rent prices in Singapore, ranked among the highest in the world.
In this post, we will calculate how long would your Singapore rent last in other cities. It is a good reference if you want to move to Singapore, or out of it.
Calculating the Data
The data for the average rent price in many cities around the world is available on Numbeo. Numbeo provides the average rent prices for 1 and 3 bedroom flats in and outside the city centre for all cities on the table below. The average used here is based on the four averages available on Numbeo.
Below we can analyse the average rent per month in Singapore and in a number of cities:
|City||Average Rent Per Month|
|New York||S$ 4892|
|Sao Paulo||S$ 1074|
|Kuala Lumpur||S$ 826|
|New Delhi||S$ 475|
Once the average is calculated, it is compared to the average rent price of one month in Singapore. If the average in city A is SGD 50 and in Singapore it is SGD 100, it means that one can live 2 months in city A for the price of one month’s rent in Singapore.
How Long Would Your Singapore Rent Last in Other Cities
Now, knowing how much is the average rent in Singapore and in other cities around the world, we can move to the next calculation. Considering that the average rent in Singapore covers one month of rent, a simple cross-multiplication show us how long would your Singapore rent last in other cities.
Below we can analyse how long one can rent in other cities, for one month’s average rent in Singapore:
The rent prices in Singapore are among the highest in the world, but they would cover just 21 days of rent if you lived in New York. However, if you move to Manila, you can cover your housing costs for 4 and a half months with the same amount you would pay for one month’s rent in Singapore.