SINGAPORE: What is the difference between the cost of living in Japan and Singapore? What we know is both are renowned for their high rankings. A Japanese real estate and power wealth coach named Shu Matsuo shared his views.
Shu Matsuo is an educator, investor, founder of Post FI, and a Japanese Ted Talk speaker. In a TikTok video last Monday, Sept 25, he shared his take on comparing the cost of living in Japan vs Singapore.
Cost of Living in Japan vs Singapore
Using Singaporean dollars, he broke down his comparison into four categories.
- average income
- rent for a 3-bedroom apartment
- average house cost
- how much a BIG Mac costs
There is a 23% difference in the average income given Japan’s average income is S$57,000 while in Singapore, it is S$70,000.
There is an 88% difference in rental for a 3-bedroom apartment, given Japan’s rental is S$1,382 while in Singapore, it is S$2,600.
A massive 386% difference in average house cost given Japan’s average house cost is S$329,000 while in Singapore it is S$1,600,000.
He also included the cost of a BIG Mac in Japan vs Singapore differs 74% in price.
He ends his video with, “This is how cheap Japan is. Would you move and live in Japan?”
One user commented that housing may be pretty expensive in Singapore, but opting for a flat can be cheaper; he shared, saying, “it’s 1.6 million dollars for a landed house but a flat is around 300-400k.”
Another TikToker named Cell commented that some don’t live in Singapore even when they work there to save on housing costs; he explained, “Some people also live in Malaysia and works in Singapore since the cost of living in Malaysia is cheaper. So they go through the border everyday.”
User One Step At A Time shared she rents a 3-bedroom apartment, and she’s paying more than what’s in the video: “Your info is not correct I’m sorry. 3 br apt is S$4,500. This is what I am paying.”
Some questioned if Shu was referring to the city or the suburbs of Japan. lucent_jack asked, “Which city in Japan please? Tokyo and Osaka prices please. City center or outskirts of the city?” User Michi added, asking, “Which part of Japan though?”
Commenting on the average income, user liulian shared, “Avrg 70k? I am not even near 😂 I need to apply for low income support scheme.”
According to Numbeo, “You would need around 1,236,508.0¥ (11,308.4S$) in Singapore to maintain the same standard of life that you can have with 580,000.0¥ in Tokyo (assuming you rent in both cities).”
- Consumer prices in Singapore exceed those in Tokyo by a substantial 61.6%, excluding rent.
- When considering consumer prices, including rent, Singapore leaps ahead with a staggering 113.2% higher cost than Tokyo.
- Rent prices in Singapore skyrocketed to an astonishing 228.6% higher than those in Tokyo.
- Dining out in Singapore is notably more expensive, with restaurant prices being 66.1% higher compared to Tokyo.
- Even for daily groceries, Singaporeans pay 28.4% more than their counterparts in Tokyo.
- In terms of local purchasing power, Singapore lags behind Tokyo by 5.8%, highlighting a difference in its economic strength.
Here’s a graph showing Singapore is next to New York when it comes to the high cost of living:
According to statistics, S’pore is indeed high on the cost of living. As user Din commented, “In Spore every thing going up, water bill, electricity bill and more to come, until the citizens suffer..pay never increase.”
Statistics and user comments paint a vivid picture of the disparities in the cost-of-living comparison between Japan and Singapore.