The economists do the survey of cost of living in the world after every two years, and they consider the prices of almost 160 products and services being provided by the country in the calculation of cost of living. They consider rent being paid or received food and other recreational costs. By the calculations of 2015 almost about 50000 prices of products were surveyed. In the opinion of the economist, Singapore is considered to be the most expensive city in the world. In Singapore, prices are so high that the simple things also cost much as a loaf of bread or a bottle of wine cost almost $39.11. About this city it usually said that it is the city that never sleeps. It is estimated that cost of living in Singapore is 11% more expensive as compared to other developed countries. It is included in one of the most expensive cities to shop. Now we are going to discuss the feature that makes the Singapore most expensive city world due to their high prices of products.
Ten top things which make the cost of living most expensive in Singapore:
10. Most expensive manicure/pedicure:
like all other items manicure and pedicure is also considered to be the most costly in Singapore. People spend a lot to get relax by taking manicure and pedicure. A jover chew from the nail salon mentioned that he takes almost $1259 for almost 1.5 hours manicure and a pedicure session. This cost is considered to the most dear and increase the living cost in the city of Singapore.
9. Most expensive cocktail in Asia:
Cocktails are also considered to most dear in the city. The cocktail is the mixture 1985 vintage champagne and sugar. A cocktail at Pangaea is most luxury and is sold at $32000 with the name of the Jewel of Pangaea. In short, all the products are considered to be the most extortionate in Singapore. Drinks that are available in all other at very cheaper rates but the same drinks are very in the city of Singapore. We observe that the living in this state is considered to the most lavish than all other places of the world.
8. Most expensive phone charging:
Even the small thing like the charging of the phone is also very expensive. A single phone may be charged off for almost $400, and even the phone is also not fully charged. A girl assumed that the charging is free at MRT station for the general public but after that she will have to pay for that. If u find any open charging port at MRT station, do not charge your phone because you will have to pay for that. Charging that is considered to be cost free in all other cities but in Singapore charging of the phone is also very expensive. It also enhances the cost of living in the city and makes this place as the most costly city in the world.
7. Marked up N95 masks:
The masks are also very costly in this place like all the other products. It also increases the cost of living in Singapore. It becomes so difficult for the people to cope the increasing prices as a level of income is limited, but the demand and necessities are increasing day by day. So it becomes hard for the people to afford the products. On one box of masks, a person has to pay $75, and this is much expensive. There is a funny statement by the people that instead to spend money on masks we can use bread.
6. Over priced iPhones:
People in Singapore do not use phones of other companies instead of that they use iPhone. It is considered to be the most costly phone and in Singapore people will have to pay almost $1000 for a warranty to use the phones. Phones are also much dear here as compared to all other countries of the world. It Makes the cost of living much more lavish in the city as compared to all other cities.
5. Expensive weddings:
Weddings is one the most important event of life and people try to spend more and more on the weddings. Weddings in this city are considered to be the most extortionate. As the cost of living is so dear in Singapore so similarly the weddings are also very expensive in Singapore. One the couple spent almost $110000 on their wedding. It is to be considered as the most costly wedding.
4. Pricey cab fares:
The fares of the cabs are also very dear in Singapore city and beyond the limit of the common people. If we take an example that the cab takes $195 from Sentosa to Woodland. People of the city prefer the train instead of the cab travelling becomes easy, and some of the money is also saved.
base fare $7.00
normal fare $97.63
3. Expensive food:
Singapore is considered to be the paradise of the food, but the food is so expensive in Singapore. The items that are available in other cities on very cheaper rates those are available in Singapore at very high prices. It enhances the cost of living in the country. If we take a small example like doughnuts are being sold in Malaysia in just $7.7 but in Singapore the same doughnut is being sold for $23.70. There is a huge difference in between the prices of the similar product.
2. Most expensive subsidized housing:
Shelter is very important for the people to live, but the prices of flats are touching to sky in Singapore that it became difficult for the people to purchase them. The prices of flat have been reached to almost $1.05 million. It is beyond the limit of the average income person. Here is the list of some of the flats.
2-rooms $83000 – $112000
3-rooms $145000 – $183000
4-rooms $234000 – $305000
These prices are so high that they are out of reach of the common people.
1. Most expensive paper:
The price of paper in Singapore is considered much expensive. The cost of paper being paid is known as a certificate of entitlement (COE). In few of the recent year, the cost of the certificate of entitlement was $60000 which is almost $6000 per year. It is as much expensive that a person can purchase an overseas car by this amount. That shows the high-level living standard in the city. A person has to pay so much just for a small piece of paper.
List of Top 10 Things Which Make Singapore The Most Expensive City
|1||Most Expensive Paper|
|2||Most Expensive Subsidized Housing|
|4||Pricey Cab Fares|
|6||Over Priced iPhones|
|7||Marked up N95 Masks|
|8||Most Expensive Phone Charging|
|10||Most Expensive Cocktail in Asia|
We have discussed top ten things which make Singapore the most expensive city. At the end, we conclude that the things that are available in other areas at the very cheaper rate those are very expensive and available at very higher rates in Singapore. We have discussed a small example of the price of doughnut in Malaysia and Singapore. It becomes very difficult for the people to settle in Singapore due to high cost of living in the city. According to economists, Singapore is considered to be the most expensive city in the world.