Sunday, January 29, 2023

Is Living in Malaysia Cheaper Than in Singapore? This YouTuber Explains It Perfectly!

Social NewsIs Living in Malaysia Cheaper Than in Singapore? This YouTuber Explains It...

There are a number of Malaysians who choose to work in Singapore and the stronger currency Singapore has is often the main reason for them to leave Malaysia.

Nonetheless, Malaysians who are working in Singapore will often complaint about how expensive it is to live in Singapore and how they miss all the “cheap” food, shopping and cost of living in Malaysia.

This then raises a question, is living in Malaysia really cheaper?

A Malaysian YouTuber had recently share a video on his YouTube channel, Mr Money TV, and he pretty much sums up the the differences between living in the 2 countries and at the same time, highlighted the pros and cons of both living in Malaysia and Singapore.

Purchasing Power Between Kuala Lumpur and Singapore

In his video, he had compared 2 individuals, both of whom are making 4,000 in their local currency with one living in Kuala Lumpur and the other in Singapore.

Both of the individuals will then spend their day with transport and meals, and shopping.

Source: YouTube

Following the example, here’s a table of the expenses both had incurred.

 Kuala LumpurSingapore
Mee rebus for breakfast at a nearby coffee shopRM7.00SGD3.00
Big Mac Value Meal at McDonalds for lunchRM15.60SGD8.65
Grande Cappuccino at StarbucksRM13.80SGD6.60
3-course dinner at a mid-range restaurantRM80.00SGD77.00

Based on the spending above, it seems that it is cheaper to do so in Singapore.

However, if you decide to cook or eat at home, the cost of buying a litre of milk, a loaf of bread, a dozen eggs, chicken breast and a kilo of apples cost roughly RM37.25 in Malaysia and only SGD21.14 in Singapore.

Meanwhile, if both of the individuals decide to go on shopping for gift, clothes or even groceries, it seemed that Malaysia is losing out significantly. A iPhone 12 costs as much as RM3,399 in Malaysia, whereas it costs Singaporeans only SGD1,199.

As for a pair of Levi jeans, it would require RM300 in Malaysia and SGD99 in Singapore.

With this, the person in Malaysia would have spent almost a month’s salary, while in Singapore, only a third of their salary was used.

Singapore is obviously the winner here as it has more purchasing power.

Transportation and accommodation

The video also covers other aspects such as transportation and accommodation.

Assuming that both are using public transport, a monthly travel card would have cost Malaysians RM100, while in Singapore, it would be SGD128.

However, the public transport system in Malaysia is not as well connected as Singapore, hence, Malaysians tend to prefer driving.

Source: YouTube

When comparing to the cost of owning a car, after taking into consideration the additional factors like having a Certificate of Entitlement (COE) in Singapore, the actual price of the car is same as though you are buying it in Malaysia.

Meanwhile, many would have pointed out that rent takes away a big chunk of your monthly salary, and this is true for both.

Singapore is often called the ‘little red dot’ due to its relatively small size, and this makes real estate a hot commodity.

On the other hand, renting in Kuala Lumpur would have cost about the same with a studio apartment of around 1,000 square feet and close to the LRT/MRT is roughly around 1,500 in ringgit and Singapore dollars.

However, Malaysians would have a choice to stay further away from the city center and enjoy a cheaper rent. This also comes with a disadvantage where the public transport system outskirt is bad and those who do so would need their own vehicle to travel around.

How about owning a property then?

Based on the calculations made by Mr Money TV, it’s more affordable to own property in Singapore because the mortgage loan rate is less than 1.5% and in Malaysia it’s about 3%.

Taking all those into consideration, staying in Singapore and Malaysia both has its pros and cons, where Singapore gives you more buying power, but Malaysia gives you more options in life.

What do you think about this? Share your thoughts!

Watch the full video here:

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