ROSHI has released an extensive cost of living analysis for Singapore and Southeast Asia, identifying Singapore as the most expensive country in the region with a cost of living index of 85.9. This figure is notably higher than those of neighboring countries, emphasizing the financial challenges faced by its residents.
The report underscores a significant rise in property and rental costs within Singapore. The average price of an HDB flat has surged to $532,768, while private houses now average $2,080,533. These escalating costs are contributing to the financial pressures experienced by many Singaporeans.
"While Singapore maintains its reputation for high quality of life, our analysis reveals that many residents face increasing financial pressures due to rising costs across multiple sectors," stated Mr. Nada, Founder of ROSHI. He further noted that these elevated costs are often mitigated by higher incomes and government support measures.
In addition to focusing on Singapore, the report also offers regional comparisons, providing a comprehensive view of cost variations across Southeast Asian countries. This broader perspective is aimed at contextualizing Singapore's economic position within the region.
ROSHI remains committed to providing transparent, data-driven insights to help Singaporeans navigate the complex financial landscape. The full report is accessible at Cost of Living In Singapore and South East Asia Insights Report 2024.
ROSHI, a Singapore-based fintech, has been transforming digital lending across Southeast Asia since the launch of its proprietary automated platform in March 2022. By leveraging AI algorithms and machine learning, ROSHI offers personalized loan options to borrowers, facilitating home and personal loans through collaborations with various lenders. To date, the company has helped hundreds of consumers secure loan approvals while delivering valuable market insights.
