According to news reports, MAS and MTI did a comparison of commonly seen products from Zara, Apple, Ikea and other companies across major cities and calculated the difference against SG. Well, general conclusion is that we are more expensive for half the items and less expensive for a quarter of the items. As you can see from the probably overcomplicated chart above, it’s not very straightforward. Different items from different shops probably compare differently, and this is only representative of some standardised commodities.
My observations: sg isnt really cheap, things have gotten expensive majorly due to shop rental, labor. The situation is much worse than the chart shows if you compare purchasing power, which takes into account the average income, versus the actual price of the item. Example I’m sure average salary in Paris, London, New York are higher than SG. Bangkok looks screwed though.
At the end of the day, compare prices and calculate potential savings.
[See, even HKG isn’t cheaper. Not that much of a headstart despite their no-sales-tax?]