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11 things to know about prices of stuff in Singapore
Singapore isn't a particularly expensive place for basic foodstuff, but it's a bad place to get a drink -- and certainly the worst country to purchase a car.
That's based on Deutsche Bank’s latest annual survey of global prices, which takes a look at such categories as transport, food and entertainment.
1. Given the taxes, not surprisingly, Singapore is the most expensive place to buy a car. It costs US$112,818 for a new Volkswagen Golf 2.0 TDI 140 CV 6 vel or far more than second-highest country Malaysia, where it costs US$45,444.
2. The cost of one litre (1/4 gallon) of petrol is twice what it would cost in New York. Over the past 10 years, the price of petrol in Singapore has more than doubled from US$0.69 a litre to US$1.74, but that's still not too bad compared to Hong Kong, where petrol is a whopping US$2.19 a litre.
3. In Singapore, similar to Hong Kong and China, a pair of Levi’s 501 jeans is double the price for what it sells in the US. It costs US$103.30 in the city-state compared to US$54 in New York.
4. Singapore ranks second most expensive city in the world to have a beer. A pint of beer here costs US$7.28, just behind Paris, where a pint costs US$7.60.
5. The public transport minimum fare in Singapore is one fifth of what it would cost in New York, starting at US$0.56 compared to US$2.75. In comparison, Sydney’s public transport is the most expensive in the world, with its minimum fare starting at US$2.92.
6. If you’re looking to go to business school, tuition fees in Singapore are more affordable than in the US. School fees for Nanyang Business School cost less than half what Harvard tuition would cost. Germany is the best place to do an MBA, as tuition fees are one third that of US universities. However, salaries offered to grads from top business schools in Singapore are also half of what Harvard grads are offered.
7. Basic health insurance is relatively affordable in Singapore. At US$82.90, it costs approximately 2 per cent of what a basic policy costs in the US. The next country with the most affordable health insurance is the Philippines, where premiums cost an average of US$36.60.
8. On average, taxi rides in Singapore cost two-thirds of what they cost in New York.
9. In the past 10 years, the average price of bread in Singapore has only gone up by about US$0.40 to US$3.36 for a 1kg loaf.
10. In comparison, a bottle of wine in Singapore now costs US$25.65 -- almost twice what it cost 10 years ago (US$13.25).
11. Unfortunately, it’s the same story for cigarettes. Ten years ago, cigarettes were US$4.72 a pack. Now, they cost an average of US$9.76 a pack.
