Tan Kin Lian - Perspectives Singapore is the most expensive city in the world
This Yahoo report said that Singapore is the most expensive city in the world for "a life of luxury".  I presume that they are referring to the cost of living for expatriates, and suggest that the cost of living is lower for locals, who do not pursue " a life of luxury". 

Is the cost of living lower for locals? In most cases, the locals pay the same price as expatriates, e.g. electricity bills, water bills, transport, food in restaurants and hawker centers, etc. 

There are three items that may be cheaper for locals:

1. Locals are eligible to buy HDB flats at subsidized rates. However, the cost of these flats have increased in recent years and are no longer considered to be affordable. Furthermore, it may take several years for a buyer to get the flat. 

2. Locals pay a lower fee to send their children to school. However, many locals do not get married or do not have many children. So, this lower cost may not really apply to them. 

3. Locals pay a lower charge when they are treated in a public hospital. However, the hospital charges are still quite high, after subsidy, for most locals. Due to long waiting times, many locals opt to be treated in private hospitals, so they have to pay the higher charges anyway. 

While the expatriates have to pay more for housing, they are probably compensated for this higher cost from the higher pay given to them, or the housing cost might be paid by their employer. 

In practice, the locals have to bear the similar high cost of living that affect the expatriates. So, living in the most expensive city in the world apply to both locals and expatriates. 

Tan Kin Lian 
 

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