Southeast Asia exhibits notable disparities in living costs across its countries. Singapore stands out as the region’s most expensive city, with a cost-of-living index of 85.9. This high index reflects Singapore’s limited land availability, advanced infrastructure, robust economy, high wages, strong currency, and its role as a global financial hub.
Following Singapore, Bangkok emerges as the second most expensive city in Southeast Asia, with a cost-of-living index of 38.9. Despite its relatively lower cost compared to Singapore, Bangkok still faces significant living expenses.
The cost-of-living indices for other Southeast Asian countries show a range of expenses. Thailand and Cambodia have indices of 40.7 and 44.5, respectively. Vietnam and Malaysia offer more moderate living costs, with indices of 35.7 and 35.0.
The findings come from a report by ROSHI, a Singapore-based fintech company, which has analyzed and compared living costs across the region. The report highlights that while Singapore’s high cost of living, particularly in property and rental markets, presents challenges, it also supports a high quality of life. This quality is underpinned by rising incomes and strong government initiatives.
In Singapore, the average rental cost for a home is approximately $2,600, significantly impacting overall affordability. Despite the high costs, the city maintains a high standard of living due to its strong economic and social frameworks.
The report underscores that while cost of living is a crucial factor, it does not always correlate directly with quality of life. Various elements contribute to overall living standards in each country, reflecting the complex financial landscape of Southeast Asia.
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