Singapore's quality of life is the world's 23rd best: report

But employees can expect lower salaries and disposable incomes at US$2,900 and US$1,953.

Singapore took the 23rd spot in Deutsche Bank’s quality of life index in 2019, moving up three spots from its ranking in 2018. Amongst Asian cities in the index, it trailed behind Tokyo which ranked 14th.

According to the bank’s report, Singapore has the 11th highest salary amongst indexed cities even if the pay dipped 6% YoY from US$3,099 to US$2,900.

Also read: Singapore is the world's best place for expats: study

The city fell down by one spot in the rent rankings as monthly rents for mid-range 2 bedroom apartments fell 4% to US$1,893 from US$1,974. Disposable incomes after paying rents were trimmed by 7% from US$2,112 in 2018 to US$1,953.

Meanwhile, luxury weekend getaways in Singapore are the 14th most expensive in the world, with people shelling out an average of US$1,648 for a holiday.

Cheap dates in Singapore, which comprises cab rides, dinner/lunch for two, two movie tickets, and a couple of beers, ranked 32nd in terms of costs with couples looking to spend US$93.5 per cheap date.

Engaging in bad habits are more costly in Singapore, with five beers and two packs of smokes costing US$60.9, the ninth highest in the index.

Deutsche Bank also determined Singapore’s prices for luxury and daily items: the iPhone XS is US$1,386, 29th highest in the index; a daily car rental is 8% lower at US$100.5 and is one of the cheapest in the index; 5-star hotels with good views are US$483; and a pint of beer is US$8.1, the fifth highest.

Gym memberships in the Singapore CBD are also expensive, rising 17% to US$121, the second highest in the world and only behind Hong Kong. Foreign exchange rates dipped 3% but are still the 12th highest in the rankings.