S’pore one of most costly cities for the young, says Knight Frank

Last Updated on 20, January 2015

According to Knight Frank Cost of Living Index (Sept 2014):

• Out of 20 cities, Singapore is 5th most expensive place for graduates
• Singapore young graduate would have a surplus of 9.91% their net salary left at the end of every month once living expenses are covered.
• Young graduate in Hong Kong would have a deficit of 4.61% of salary after living expenses are covered.

Sources: S'pore one of most costly cities for young (Straits Times 27 Sept 2014) and Knight Frank Generation Y Cost of Living Index.

My comment: The survey assumed that the young graduate rents a place which is not true in reality as most Singapore young graduate stay with their parents. However, as the young graduate grows older, staying with parents becomes a necessity rather than a choice. Knight Frank survey does tell us that the cost of living in Singapore is indeed expensive compared to other cities.

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