Singapore Tops Southeast Asia in Cost of Living, ROSHI Report Reveals

Singapore has emerged as the most expensive country in Southeast Asia, according to a comprehensive cost of living analysis released by ROSHI, a Singapore-based fintech company. The report, which examines economic conditions across the region, reveals that Singapore's cost of living index stands at 85.9, significantly higher than its neighboring countries.

The study highlights a substantial increase in property and rental costs in Singapore. According to the findings, the average price for HDB flats has reached $532,768, while private houses now average $2,080,533. These figures underscore the growing financial pressures faced by residents in the city-state.

Mr. Nada, founder of ROSHI, commented on the findings, stating, "While Singapore maintains its reputation for high quality of life, our analysis reveals that many residents face increasing financial pressures due to rising costs across multiple sectors." However, he also noted that these high costs are often balanced by higher incomes and government support measures available to Singaporeans.

The report extends beyond Singapore, offering valuable insights into cost variations across Southeast Asian countries. This broader perspective provides context for Singapore's economic position within the region and allows for meaningful comparisons between different markets.

For residents and potential expatriates considering a move to Singapore or other Southeast Asian countries, this report serves as a crucial resource for understanding the financial landscape. It can inform decision-making processes related to housing, career moves, and long-term financial planning.

The comprehensive nature of the analysis also has implications for businesses operating in or considering expansion into Southeast Asia. Understanding the cost structures across different countries can influence strategic decisions related to office locations, salary structures, and market entry strategies.

ROSHI, which has been operating its proprietary automated lending platform since March 2022, leverages AI algorithms and machine learning to provide personalized loan options to borrowers. The company's experience in facilitating home and personal loans through partnerships with various lenders has positioned it to offer valuable market insights.

The full report, titled "Cost of Living In Singapore and South East Asia Insights Report 2024," is available on the ROSHI website. It provides a detailed breakdown of living costs across various categories and offers comparative data for different Southeast Asian countries.

As Singapore continues to attract global talent and businesses, understanding its cost structure in relation to neighboring countries becomes increasingly important. This report contributes to the ongoing dialogue about affordability, quality of life, and economic competitiveness in the region.

For policymakers, the findings may inform discussions on housing affordability, cost of living adjustments, and strategies to maintain Singapore's attractiveness as a global hub while addressing the financial challenges faced by its residents.

The release of this report underscores the importance of data-driven insights in navigating the complex financial landscape of Southeast Asia. As economic conditions continue to evolve, such comprehensive analyses will play a crucial role in informing personal, business, and policy decisions across the region.