Is Singapore an affordable place to live anymore?

I am an expat living in Singapore for the last 3 years. 3 years ago I lived in a 3 bed room HDB apartment in Bishan and paid 900 dollars, now I pay 1600 dollars for a 3 bed room apartment that is closer to Woodlands. This is the biggest impact I see on every person I know of. On top of it, I pay more GST, more for taxis and MRT rides, more for water and power, more for food and now even have to struggle to get the rice brand that I eat.

In the mean time, my salary has increased 8% over the last 3 years, I got married and now have to start planning for a child. And to make matters worse there is a global credit crunch and now, even dangerous, food grains crunch. These are going to drive up the costs even higher.

I already see a number of my friends and colleagues moving back to their home countries as the saving potential there is now at par with Singapore. The impact of this may not be felt now but its bound to hit hard in the near future. All these make me really wonder if Singapore is still affordable for the expats and if the government is doing enough to attract and retain the overseas talent its looking for?


This entry was posted in Real Estate and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s