Monthly rent in Shanghai’s city-center costs approximately $2,700, according to data by Numbeo.
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Living in a major city can come with a hefty price tag, so it’s best to be informed before you make that big move.
In Asia, Hong Kong and Singapore top the list for cost of living. A family of four can expect to spend an estimated $9,000 a month to live in one of these cities, according to Numbeo, an online database of user-contributed information.
As global financial hubs, Singapore and Hong Kong attract expats from around the world, which can drive prices up, according to a report from HR consultancy Mercer in June.
“Singapore is one of the most attractive locations for people looking to boost their careers,” Tracey Ma, regional mobility leader, APAC at Mercer, told CNBC Make It. Factors such as the country’s “strong” economic situation and the several opportunities can attract expats into the country, she said.
In addition, these two cities have hot housing markets.
“Hong Kong has always been one of the most expensive rental markets in the world, because of the limited supply of housing and the amount of people that are moving in,” said Ma.
Singapore also saw a “rocketing increase” in its housing rentals from 2022, however, prices have begun to stabilize in recent months, said Ma.
For the second consecutive quarter, private housing rentals in the island-nation fell, declining 1.9% in the first quarter of 2024, following a drop of 2.1% in the last quarter of 2023, according to Singapore’s Urban Redevelopment Authority.
Here’s a broader look at how much it costs for a family of four to live across 10 major cities in Asia, according to data by Numbeo:
Singapore
Population: 6.1 million
Estimated monthly living expenses (excluding rent): $4,025
Rent for a 3-bedroom in the city center: $5,308
Total cost of living: $9,333/month
Hong Kong
Population: 7.7 million
Estimated monthly living expenses (excluding rent): $4,137
Rent for a 3-bedroom in the city center: $4,997
Total cost of living: $9,134/month
Seoul, South Korea
Population: 10 million
Estimated monthly living expenses (excluding rent): $4,123
Rent for a 3-bedroom in the city center: $2,528
Total cost of living: $6,651/month
Tokyo, Japan
Population: 37 million
Estimated monthly living expenses (excluding rent): $3,431
Rent for a 3-bedroom in the city center: $2,634
Total cost of living: $6,065/month
Shanghai, China
Population: 29.9 million
Estimated monthly living expenses (excluding rent): $2,311
Rent for a 3-bedroom in the city center: $2,716
Total cost of living: $5,027/month
Bangkok, Thailand
Population: 11.2 million
Estimated monthly living expenses (excluding rent): $2,304
Rent for a 3-bedroom in the city center: $1,664
Total cost of living: $3,968/month
Manila, Philippines
Population: 14.9 million
Estimated monthly living expenses (excluding rent): $2,209
Rent for a 3-bedroom in the city center: $1,619
Total cost of living: $3,828/month
Jakarta, Indonesia
Population: 11.4 million
Estimated monthly living expenses (excluding rent): $1,732
Rent for a 3-bedroom in the city center: $1,260
Total cost of living: $2,992/month
Ho Chi Minh City, Vietnam
Population: 9.6 million
Estimated monthly living expenses (excluding rent): $1,746
Rent for a 3-bedroom in the city center: $1,157
Total cost of living: $2,903/month
Delhi, India
Population: 33.8 million
Estimated monthly living expenses (excluding rent): $1,383
Rent for a 3-bedroom in the city center: $727
Total cost of living: $2,110/month
Globally, Geneva in Switzerland tops the list for cost of living at $6,201 per month for a family of four, with Zurich taking the second position on Numbeo’s 2024 cost of living index, followed by New York City, San Francisco, CA and Boston, MA. tops the list for cost of living, with and
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