Cost of living for a family of four in 10 major Asian cities

Living in a big city can be expensive, so it’s best to be informed before making the big move.

In Asia, Hong Kong and Singapore rank highly in terms of cost of living: a family of four can expect to pay about $9,000 a month to live in either of those cities, according to Numbeo, an online database of user-contributed information.

As global financial centres, Singapore and Hong Kong are attracting expatriates from around the world, which is driving up prices, according to a June report by human resources consultancy Mercer.

“Singapore is one of the most attractive locations for people looking to advance their careers,” Tracy Ma, Mercer’s Asia Pacific mobility leader, told CNBC Make It. Factors such as the country’s “robust” economy and a variety of opportunities are drawing expats to Singapore, she said.

Additionally, both cities have booming housing markets.

“Hong Kong has consistently been one of the most expensive markets in the world for rent due to limited housing supply and high occupancy rates,” Ma said.

Residential rental prices in Singapore also “rose sharply” from 2022, but prices have begun to stabilise in recent months, Ma said.

Private residential rents in the island nation of Singapore fell for the second consecutive quarter, declining 1.9 percent in the first quarter of 2024, following a 2.1 percent decline in the fourth quarter of 2023, according to the Urban Redevelopment Authority of Singapore.

Here’s a rough look at how much it costs for a family of four to live in 10 major Asian cities, according to data from Numbeo.

Population: 6.1 million

Estimated monthly living expenses (excluding rent): $4,025

Rent for a 3-bedroom apartment in city center: $5,308

Total living expenses: $9,333 per month

Population: 7.7 million

Estimated monthly living expenses (excluding rent): $4,137

Rent for a 3-bedroom apartment in city center: $4,997

Total living expenses: $9,134 per month

Population: 10 million

Estimated monthly living expenses (excluding rent): $4,123

Rent for a 3-bedroom apartment in city center: $2,528

Total living expenses: $6,651 per month

Population: 37 million

Estimated monthly living expenses (excluding rent): $3,431

Rent for a 3-bedroom apartment in city center: $2,634

Total living expenses: $6,065 per month

Population: 29.9 million

Estimated monthly living expenses (excluding rent): $2,311

Rent for a 3-bedroom apartment in city center: $2,716

Total cost of living: $5,027 per month

Population: 11.2 million

Estimated monthly living expenses (excluding rent): $2,304

Rent for a 3-bedroom apartment in city center: $1,664

Total cost of living: $3,968 per month

Population: 14.9 million

Estimated monthly living expenses (excluding rent): $2,209

Rent for a 3-bedroom apartment in city center: $1,619

Total living expenses: $3,828 per month

Population: 11.4 million

Estimated monthly living expenses (excluding rent): $1,732

Rent for a 3-bedroom apartment in city center: $1,260

Total living expenses: $2,992 per month

Population: 9.6 million

Estimated monthly living expenses (excluding rent): $1,746

Rent for a 3-bedroom apartment in city center: $1,157

Total living expenses: $2,903 per month

Population: 33.8 million

Estimated monthly living expenses (excluding rent): $1,383

Rent for a 3-bedroom apartment in city center: $727

Total living expenses: $2,110 per month

Globally, Geneva, Switzerland, tops the list with a cost of living of $6,201 per month for a family of four, while Zurich comes in second in Numbeo’s 2024 Cost of Living Index, followed by New York City, San Francisco and Boston.

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