A Singapore-based finance mentor recently compared the cost of living in Kuala Lumpur and Singapore.
A Threads post by @axeandyung posed the question: “Would you trade a higher salary for a lower cost of living?”
The post first addressed salaries, stating that the average salary in Kuala Lumpur is RM4,256, while in Singapore, the average salary is S$5,500 (RM18,263).
In terms of living expenses, the cost of living in Kuala Lumpur can amount to around RM3,000 per month, while in Singapore, it was estimated to be between S$1,200 and S$2,000 (RM3,984 - RM6,641). These figures exclude monthly rental costs.
In a follow-up post, @axeandyung clarified that rent was intentionally excluded as rental rates vary significantly between Kuala Lumpur and Singapore. Additionally, the salary figures used in the initial post were median salaries, meaning they were not meant to be a direct comparison.
Regarding car ownership, the post highlighted the significant cost difference between the two countries. In Singapore, the certificate of entitlement (COE) alone can exceed S$100,000 (RM350,000), making car ownership extremely expensive. Conversely, purchasing a car in Malaysia is considered more affordable.
However, many users disagreed with the comparisons, pointing out additional factors such as daily living expenses. One user argued that while Singaporean workers have higher starting salaries, their annual salary increments are not as substantial compared to Malaysian workers.
Another user pointed out that while cars in Malaysia are cheaper to purchase, installment payments typically last up to 10 years. In contrast, Singaporeans may not need cars due to the country’s highly efficient public transportation system.
