What is the Cost of Living in Singapore for International Students?

Are you considering higher studies in Singapore? That’s an excellent decision. Singapore is known for its world-class education, fast-paced economy, and well-structured urban planning, making it an ideal destination for international students. From top-tier institutions like the National University of Singapore (NUS) and outstanding infrastructure to ample career opportunities, Singapore offers an enriching experience for students from across the globe. However, it is essential to factor in the cost of living as you plan your journey. In this guide, we will delve into the average cost of living in Singapore for international students, and explore some practical tips to manage the expenses while studying there.

Breakdown of Cost of Living In Singapore

This section explores the key aspects of the cost of living in Singapore, including accommodation, transportation, food, groceries, and more.

Accommodation

Accommodation accounts for the major share of expenses in Singapore because of high property rates and limited land supply. Off-campus accommodation is expensive while on-campus accommodation is affordable. Here’s an overview:

Category	Avg Cost Per Month	Key Information
HDB Flats	SGD 850	HDB flats come in different sizes, from 1-room to 5-room flats. International students cannot rent the entire flat but can rent rooms in HDB flats owned by Singaporean residents.
Private Apartments	SGD 2,400	Private apartments come in the form of condos and serviced apartments. International students are expected to commit to at least 6 months to 1-year lease terms for private apartments.
Co- living spaces	SGD 1,600	Co-living spaces offer shorter lease periods, from 1 month to 1 year compared to private apartments. The rent covers everything, from Wi-Fi, and water, to electricity.
On- Campus Housing	SGD 500	The accommodation includes hostels and residential halls with furnished rooms and communal kitchen. On-campus housing lease terms for international students are typically from 6 months to 1 year.

Food And Groceries

Category	Cost
Groceries and cooking	SGD 150 – SGD 200 per month depending on dietary preferences
Cafes and casual dining	SGD 17 per meal
Hawker Centers and food courts	SGD 6 per meal

Tips to Manage Food and Grocery Expenses

• Shop at supermarkets such as Fairprice, Giant, and Sheng Siong where the prices of groceries are affordable.
• If you are looking for the cheapest alternative to supermarkets, the wet markets are the best option. Wet markets offer a wide variety of fresh produce like vegetables, fruits, and fresh meat at affordable prices. Moreover, in some wet markets, there is room for bargaining.
• If you are planning to have a meal at a restaurant, consider Hawker centers and food courts. These are the most affordable dining options in Singapore.
• Save money on food by using apps such as Grab and Food Panda to find special offers on food deliveries.

Transportation Costs

Public transportation is the most affordable and widely used transportation system in Singapore. The majority of people living in Singapore do not own a car because the public transportation network is well-connected.

Category	Average Cost
Cost of MRT (Mass Rapid Transit) ride	SGD 2 per journey
Cost of Bus ride	SGD 1.19 for trips up to 3.2 Km
Cost of a taxi trip	SGD 13 for 8 Km

Tips to Manage Transportation Costs

• Purchase a student concession pass for MRT and bus travel. The pass offers 30 days of unlimited travel on buses and MRT services. To be eligible for the pass, you need to be enrolled in a full-time course at a recognized local institution.
• Use MRT over taxis. Although taxis are convenient, the MRT is a more affordable and well-connected option throughout Singapore.

Healthcare Costs

Health insurance is mandatory for international students when studying in Singapore. There are different types of health insurance coverage for international students, including public university-sponsored health insurance and private health insurance. Here’s an overview:

Category	Average Cost	Key Information
University Health Insurance Plans	SGD 300 per year	The premium costs are typically included in the fees. These plans cover hospitalization, surgery, emergency, and other medical services.
Private Insurance Plans	SGD 300 – SGD 1000 per year	Private insurance plans are customizable plans. You can choose from basic plans to more comprehensive plans.
MediShield Life	SGD 200 – SGD 400 per year	This health insurance is a government-sponsored plan. It is available for both Singaporean residents and foreign students.

Miscellaneous Costs

Besides the living, food, transport, and healthcare expenses, you need to consider other costs such as utility bills, mobile, internet, and recreational activities. Let’s explore each one of them:

Caterory	Average Cost
Monthly utilities (electricity, gas, and water)	SGD 75 per month
Mobile SIM	SGD 20 – SGD 40 per month
High-speed internet	SGD 40 – SGD 60 per month
Movies	SGD 10 per ticket

Estimated average cost of living in singapore

Below is an estimated cost of living budget for international students planning to study in Singapore: 

Expense	Average Cost (Monthly)
Rent	Approximately SGD 1,300
Food and Groceries	Approximately SGD 190
Transportation	Approximately SGD 115
Health Insurance	Approximately  SGD 25
Miscellaneous expenses	Approximately 90

The total cost of living in Singapore for an international student can be approximately SGD 1,720 per month.

Conclusion

Singapore can be an expensive place to live due to its scarcity of land and lack of natural resources. However, it offers international students a lot, including high-quality institutions, a strong economy, and a higher standard of living. By understanding the cost of living in Singapore and planning your budget wisely, you can enjoy a fulfilling student life without financial stress.

FAQs