Singapore cost of living to go even higher next year, 2025?

Hello Mooers!

In today's discussion, I will be sharing 3 important aspects that may show that the cost of living in Singapore will go even higher next year, 2025.

#GIFsFromTenorDotCom

Without further ado, let's begin.

Back in September 2023, I shared with mooers the prices of many items that will increase in the next few years. Mooers can access the post by clicking the link below.

Mars Mooo: Singapore inflation to grow higher in the next few years?

Since then, almost one year had passed, but inflation continued to stay sticky in Singapore even though banks had started to reduce their fixed deposit interest rates.

Also, if we look at the property market in Singapore, one can only say " Wow!" because Singapore million-dollar HDB flats continue to rise and may double the total in the whole of 2023 (*1).

Not just million-dollar HDB flats going higher, the condo resale volume has surged 32.2%, with the highest transacted price of SGD 14.2 million for a unit at the Nassim Park Residences in July (*2).

Next, we look at the shopping malls in Singapore.

Oh my, another Wow!

Singapore shopping malls are full of people (*3). This may suggest that shops in these shopping malls are getting good profits, and this is good news for REITs shareholders.

Third, we look at the various costs of daily expenses in Singapore.

Oh là là!

On 9 Sep 2024, the Singapore PTC announced a public transport fare hike of 10 cents more per journey starting from 28 Dec 2024. (*4)

Also, COE prices are up across all categories , with Cat B posting the largest increase of 6.1% to $106,101. (*5)

Besides public transportation and COE prices going higher, even food at a particular university in Singapore is becoming more expensive. (*6)

Also, another article mentioned that the quality and size of food in Singapore was reduced to a "kids meal portion" that looked like "Leftovers". (*7)

#GIFsFromTenorDotCom

Hmm.. do mooers think that inflation in Singapore will reach new heights in 2025? Are there any ideas that mooers would like to share to keep their expenses low? Please come and share your thoughts, and also participate in the vote below.

That's all for today, and always remember to DYODD (Do your own due diligence) when making any kind of investment.

Thank you and Godspeed!

References:

*1: HDB resale prices increase 2.3% in Q2 of 2024, transactions up 4%

*2: Condo resale volume surges 32.2% in July; core central region posts biggest price increase

*3: Why are malls/trains crowded during weekday off peak?

*4: Public transport fare hike: Adults to pay 10 cents more per journey from Dec 28

*5: COE prices up across all categories; Cat B posts largest increase of 6.1% to $106,101

*6: Parent says NTU food 'more expensive than outside', worried about 'financial burden' on students

*7: Shrinkflation woes: GST increased just 1% but food reduced to "kids meal portion" that looked like "Leftovers"

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