Singapore more costly than Seoul & HK

[Pmet]

After Fandi Ahmad said he will retire in Batam due to high cost of living, another report from our own scholars ranked SGP above Seoul and Hong Kong! Note that the article didn't mention Korea or China cause it's not consistently that expensive in those countries across all cities. Singapore is the only city so we're screwed with nowhere else to retire to.

 

No million $$$ no condo! No 0.5 million $$$ no HDB! No 100k no car!

 

 

Singapore more costly for citizens to live in than Seoul, Hong Kong

SINGAPORE: The Republic has been ranked the 53rd most costly city to live in, in terms of cost of living for its citizens, according to the latest annual report by the Asia Competitiveness Institute at the Lee Kuan Yew School of Public Policy.

The study looked at 103 major cities across the world.

 

The most costly city was Sydney, followed by Zurich. Singapore was less costly than cities such as New York which was ranked 7th, and London which took the 22nd spot. However, Singapore was ranked ahead of other cities in the region. Hong Kong took 59th place, while Seoul was ranked 62nd.

 

In terms of cost of living for expatriates, Singapore stood at number nine, less costly than cities like Zurich, which was ranked most costly, New York, which was number two on the list, and London, which was ranked 7th.

 

But Singapore was more costly than cities such as Frankfurt, number 10 on the list, Paris, which was ranked 11th, and Melbourne, which came in at 12th place.

 

The study was based on the consumption patterns of ordinary residents in each country, in several weighted categories including food and non-alcoholic beverages, housing rents and utilities, education, health and transport.

 

http://www.channelnewsasia.com/news/singapore/singapore-more-costly-for/1497152.html

 

Edited November 27, 2014 by Pmet

[2BDriver]

After Fandi Ahmad said he will retire in Batam due to high cost of living, another report from our own scholars ranked SGP above Seoul and Hong Kong! Note that the article didn't mention Korea or China cause it's not consistently that expensive in those countries across all cities. Singapore is the only city so we're screwed with nowhere else to retire to. No million $$$ no condo! No 0.5 million $$$ no HDB! No 100k no car!

 

 

https://sg.finance.yahoo.com/news/mas-raises-alarm-over-escalating-065800265.html

Corporate debt-to-GDP ratio hit 78% in Q2.

The Monetary Authority of Singapore today raised the alarm over the spike in local debt. In its annual Financial Stability Review, the MAS stated that the corporate debt-to0GDP ratio hit 78% in the second quarter, up significantly from just 52% in Q2 2008.

The report further noted that the household debt-to-income ratio has also edged up from 1.9 times in 2008 to 2.3 times in 2013.

“An interest rate hike combined with an earnings shock could increase the number of financially distressed corporates and households,” the MAS stated.

The MAS also said that still-elevated property prices and increasing cross-border banking exposure also warrants close attention.

“MAS is monitoring the above risks closely and taking pre-emptive measures to address them,” it said.

 

More From Singapore Business Review

• Cash-strapped Singaporean execs struggle to make ends meet each month: report
• UOB’s delinquent housing loans jumped 12.3% in Q3
• Money, money, money: Singapore’s ultra-rich residents control 17% of the country’s wealth

[Super7]

 

https://sg.finance.yahoo.com/news/mas-raises-alarm-over-escalating-065800265.html

Corporate debt-to-GDP ratio hit 78% in Q2.

The Monetary Authority of Singapore today raised the alarm over the spike in local debt. In its annual Financial Stability Review, the MAS stated that the corporate debt-to0GDP ratio hit 78% in the second quarter, up significantly from just 52% in Q2 2008.

The report further noted that the household debt-to-income ratio has also edged up from 1.9 times in 2008 to 2.3 times in 2013.

“An interest rate hike combined with an earnings shock could increase the number of financially distressed corporates and households,” the MAS stated.

The MAS also said that still-elevated property prices and increasing cross-border banking exposure also warrants close attention.

“MAS is monitoring the above risks closely and taking pre-emptive measures to address them,” it said.

More From Singapore Business Review

• Cash-strapped Singaporean execs struggle to make ends meet each month: report
• UOB’s delinquent housing loans jumped 12.3% in Q3
• Money, money, money: Singapore’s ultra-rich residents control 17% of the country’s wealth

 

 

I saw foodcourt kopi/toast stall at Kallang Wave selling kopi+toast+2eggs at $1.8.... how can sgp be expensive?

 

[Pmet]

 

I saw foodcourt kopi/toast stall at Kallang Wave selling kopi+toast+2eggs at $1.8.... how can sgp be expensive?

 

 

I saw another foodcourt selling 2veg + 1meat + rice for $4.50. How cheap can sgp be?

 

Also, I saw an ad selling a condo next to Geylang @ 1.5k PSF, two bedder above 1mil. Cheap?

 

Heck, I saw another kopitiam selling the same kopi toast set at $3. How come it costs more than yours? Median is the key.

Edited November 28, 2014 by Pmet

[Meanmachine]

 

I saw foodcourt kopi/toast stall at Kallang Wave selling kopi+toast+2eggs at $1.8.... how can sgp be expensive?

 

 

 

U honestly think everyone like you saw , and can you say one will travel from West-sider/ Yishun or Tamp to Kallang for a $2.00 b/f ? Thy can keep the 0.20cts change.

There are other places having the same prices or even cheaper.

 

Not factoring in transportation, taxi and others means, as Kallang is far off and the mall is only having a in-house promotion, walk in during lunch time and you'll see more eateries vying for customers. Difficult to survive.

[Meanmachine]

I have on many occasion met celebrities and stars having coffee break @ McDonalds, Coffee joints, does that means thy are broke too, not necessary, but for our beloved Fandi Ahmad's case, it's kinda sad, he has to accept the fact that he is no longer the mega star who earns a lot, lived in SD, condo or the smile life he had with his grandma in Yishun.

 

Sp sportmen do not retired well and not necessary rich, thy jus has the big pay day and play well with their feet, once above 34yo, their glory days are done and dusted.The same about celebrities are pretty the same, out of 10 celeb, only 1-2 of them will make it to the Top.

 

Look at Gurmit Singh, at least he has done his financial planning to quit MediaCrop and do p/time acting/hosting programe.

 

I must admit Sp do not may well for junior or senior executive, even for a graduate. let alone has saving for the future, after the deductible and daily needs. We ( Gahmen ) always wants to be #1 at this and that, but left the citizens way behind, the ministers are paid millions per years as compared to Asian counterparts, it's hell of lop-sided pay-master.

 

 

[Super7]

 

 

U honestly think everyone like you saw , and can you say one will travel from West-sider/ Yishun or Tamp to Kallang for a $2.00 b/f ? Thy can keep the 0.20cts change.

There are other places having the same prices or even cheaper.

 

Not factoring in transportation, taxi and others means, as Kallang is far off and the mall is only having a in-house promotion, walk in during lunch time and you'll see more eateries vying for customers. Difficult to survive.

You got a point.

 

Btw, rental n labor costs push up prices of kopi 0.

 

Landlords, being master squeezers, will not provide low rent hot water dispenser along mall corridors for visitors to diy kopi 0 with ownself bring paper cup n instant Kopi bags.

[Super7]

 

I saw another foodcourt selling 2veg + 1meat + rice for $4.50. How cheap can sgp be?

 

Also, I saw an ad selling a condo next to Geylang @ 1.5k PSF, two bedder above 1mil. Cheap?

 

Heck, I saw another kopitiam selling the same kopi toast set at $3. How come it costs more than yours? Median is the key.

With REITs forever increasing rentals, how to see kopi 0 prices not shooting up?

 

Hdb is in a good position to stabilize their rentals for heartland eateries rentals, indirectly putting pressure on REITs to 'agar agar jiu ho' n not keep increasing rentals. But Hdb also says "what's wrong with making more money?"

Edited November 29, 2014 by Super7

[Freestylers09]

not again....LOL

[Kangadrool]

That's why we have been so successful in keeping the low-wage earners' wages LOW for a long long period in order to keep our overall costs low.

[Surpize]

Inflation / Cost increase have been rather hard lately. A lot of things all more expensive now.

In fact, pace in Singapore have been rather fast & stressful. Not easy.

[Meanmachine]

With REITs forever increasing rentals, how to see kopi 0 prices not shooting up?

 

Hdb is in a good position to stabilize their rentals for heartland eateries rentals, indirectly putting pressure on REITs to 'agar agar jiu ho' n not keep increasing rentals. But Hdb also says "what's wrong with making more money?"

 

 

I would recommend one ' Keep ' the HDB flat, ( no mater what happens ) if one decides on getting a condo or non-condo, if God forsaken the economy, he still has hdb flat to fall back on . . . that my thought, and I back-up those landed pty owner/s whose earning power has dwindled, so at least thy should have something tot all back on later.

 

There is nothing wrong to make more money, provided always it's done ethically and morally correct, Like a wise man say, with a stroke of a pen, the rules can be changed, look at how the selling/ buying procedure for resale hdb flat, buyer has to offer first, agreed price and sign on OTP then submit for valuation report - The tides has ( indeed ) changed. No wonder HDB vendor hardly has any Cov this time round.

 

In the near future, if one want to eat steak, U go to a fancy restaurant & order T-bone steak, ( no need to wait 3-5 mins ) with a tab of the IT order-taker, your steak will come out 'organic-cooked' to your perfection, base on size, how it is done and type of garnishing. plus a robotic waiter who will pilot 'air-borned' to serve you.

 

Bon appetite !!

[Meanmachine]

The inflation induced emigration of locals makes room for more foreigners, like surrendering without a fight.

 

 

F.A is only in his mid-fifties, m sure he has seen what has happened, not sure he has surrendered, but believed he has weight his option that the grass is greener and affordable outside Sp, beside it only 45 mins one way, less stress and more options for retirement for his family too, I reckon it's may be better choice than northern neighbour/s.

 

Im sure he has check out some investment portfolio in B., infact i would recommend Bintan, cleaner, greener and practical than BATAM, The President of Indonesia visited Bintan at least twice or more every year. Opps !

[Meanmachine]

You got a point.

 

Btw, rental n labor costs push up prices of kopi 0.

 

Landlords, being master squeezers, will not provide low rent hot water dispenser along mall corridors for visitors to diy kopi 0 with ownself bring paper cup n instant Kopi bags.

 

I am surprised by what U mentioned about self-served customer who DIY kopi-bag on paper-cup, let me juz say tis, if its an Pioneer Generation, we will close one-eyed la , if it a adult, then ' cham liao ' , it's a no brainer than S.B or C.B.T.L

[Super7]

 

I am surprised by what U mentioned about self-served customer who DIY kopi-bag on paper-cup, let me juz say tis, if its an Pioneer Generation, we will close one-eyed la , if it a adult, then ' cham liao ' , it's a no brainer than S.B or C.B.T.L

The option/flexibility to live with / enjoy bare essentials is not a bad thing.

[Freestylers09]

sales of balance flat just out..

 

so many area still no takers esp west

 

280k 4 rooms..no takers

 

600k many takers..

 

then say hdb exp..LOL funny sia

[Gitanic]

The Republic has been ranked the 53rd most costly city to live in, in terms of cost of living for its citizens, according to the latest annual report by the Asia Competitiveness Institute at the Lee Kuan Yew School of Public Policy.

 

this report is open means measures are on the way to reduce cost of living here?

 

no no ,reduction in salaries to reduce eventual costs is not the measure.

[Wt_know]

another spore most expensive story?

no sian meh?