Hong Kong vs Singapore: Cost of Living Comparison – Quick Answer
When you compare Hong Kong vs Singapore: Cost of Living, both are among the most expensive Asia cities, but your biggest cost driver is housing. In practice, everyday living (transport, hawker food, basic healthcare) is often cheaper in Singapore, while ultra-central apartments and certain services can still be pricier than in Hong Kong depending on the district and housing type you choose.
This focused guide is a cluster article supporting Homejourney’s main pillar on international relocation and city comparison Hong Kong vs Singapore: Ultimate City Comparison Guide | Homejourney . Here we go deep into the cost of living comparison so expats, investors, and frequent travelers can make confident, safe decisions when choosing between these two expat destinations.
1. Snapshot: Hong Kong vs Singapore Cost of Living & Quality of Life
1.1 Quick comparison table
Use this table as a fast way to compare cities before diving into the details.
Do note: these are broad guides based on 2024–2025 market levels. Always cross-check with current data and, for property decisions, with professional advice and verified listings on Homejourney.
2. Property & Real Estate: The Biggest Cost of Living Driver
From first-hand experience helping clients relocate, housing is where the Hong Kong vs Singapore difference feels most real. Many Hong Kong expats are shocked at how much more space they get for similar rent once they move to Singapore’s city-fringe or heartland estates.
2.1 Renting: What you actually pay month to month
In Singapore, a typical expat couple often chooses between:
- A 1–2 bedroom condo near the MRT in Queenstown, Redhill, Kallang, or Paya Lebar: around S$3,500–S$5,000/month depending on age and facilities.
- A 3–4 room HDB flat in a mature town like Bishan, Toa Payoh, or Clementi: around S$2,800–S$3,500/month for a well-renovated unit.
From an on-the-ground view, if you stay near Queenstown MRT, you can walk 5–8 minutes from many condos to the station, then reach Raffles Place or Tanjong Pagar in under 15 minutes by MRT. That combination of space, connectivity, and price is hard to replicate in central Hong Kong.
In Hong Kong, rents vary a lot by island vs Kowloon vs New Territories, but for a similar lifestyle, many expats look at Mid-Levels, Wan Chai, Sheung Wan, or Kowloon Tong. For a compact 1–2BR apartment in a modern building, HK$18,000–HK$30,000 (≈S$3,000–S$5,300) per month is common, but with typically smaller floor areas than equivalent-priced Singapore condos.
For verified Singapore rental listings, use Homejourney’s property search feature Property Search . You can customise by budget, district, and MRT line and see clearly stated sizes and asking rents.
2.2 Buying property: costs, regulations, and safety
For buyers and investors, Singapore’s residential market is tightly regulated by the Urban Redevelopment Authority (URA) and Ministry of National Development. Cooling measures (e.g. Additional Buyer’s Stamp Duty, loan-to-value limits) keep speculation in check and support long-term stability.[2][3]
Recent analyses show Singapore private home prices growing in a moderate range and stabilising rather than spiking, backed by strong household balance sheets and calibrated land supply.[1][3][4] This is one reason global investors increasingly prefer Singapore for long-term capital preservation.
If you are comparing investment potential:
- Hong Kong historically offers strong capital gains in prime areas but with higher volatility and more pronounced cycles.
- Singapore offers a more regulated, predictable environment, attractive to family offices and conservative investors.
To evaluate projects, refer to Homejourney’s projects directory for data on new launches, past transaction ranges, and rental trends Projects Directory . For a macro view, you can cross-check with URA releases and major bank market outlooks such as DBS Research’s property outlook.[3]
2.3 Rental yields and financing
In both cities, gross rental yields for residential property often fall in the 2–4% range, depending on district and property type. In Singapore, yields for mass-market suburban condos are typically at the higher end, while prime Core Central Region (CCR) homes tend to have lower yields but higher perceived prestige.
When you factor in financing costs and currency exposure, the equation becomes more nuanced. Singapore’s mortgage environment is transparent, with major banks publishing clearly stated fixed and floating packages. Homejourney’s bank rates page lets you compare typical home loan rates in one place before you speak to individual banks Bank Rates .
Insider tip: In Singapore, many serious buyers obtain an In-Principle Approval (IPA) from a bank before making offers. It’s not legally binding but gives you a realistic budget and negotiation confidence, and it ensures you do not over-extend yourself in a market with strict loan-to-value rules.
3. Everyday Lifestyle Costs: Food, Transport, Utilities
3.1 Food and dining
If you love to eat out daily, Singapore often comes out cheaper at the local level and similar to Hong Kong for mid-market restaurants.
- Singapore: A plate of chicken rice or nasi lemak at Maxwell Food Centre or Amoy Street Food Centre typically costs S$4–S$6. A coffee and kaya toast breakfast near Tanjong Pagar MRT is often under S$5 if you go to a local kopitiam instead of a café.
- Hong Kong: A set meal in a cha chaan teng (tea restaurant) in Wan Chai or Mong Kok tends to cost HK$40–HK$70 (≈S$7–S$12), slightly more than a hawker meal in Singapore but with similar everyday feel.
Western restaurants and bars are expensive in both cities, especially in areas like Singapore’s Robertson Quay or Hong Kong’s Soho and Lan Kwai Fong.
