When it comes to cost of living, both Japan and Singapore rank high up on the list. 

But even between the two, is there one that is significantly more painful on the wallet than the other? 

In a TikTok video on Monday (Sept 25), Shu Matsuo, a Japanese Ted Talk speaker, educator and investor, compared the cost of living in both countries. 

Matsuo also happens to be a real estate and personal wealth coach, which explains his passion on the topic. 

To give some context, he used four different aspects of each country as a comparison — income, rental, housing and a McDonald's Big Mac. 

For Japan, he says that the average annual income is $57,000, while in Singapore, it's $70,000, making it a 23 per cent difference. 

And though the Japanese may seem to be earning less, Matsuo notes that this is seemingly made up for with cheaper accommodation and food. 

One example he uses is that a Big Mac in Japan only costs $4.15, while one in Singapore would set you back by $7.23, which is a 74 per cent difference. 

Matsuo highlights that the most stark price contrast between the two countries involves the cost of rent and housing. 

In Japan, he says that rental for a three-bedroom apartment would cost an average of $1,382, while in Singapore, it could be $2,600, which is double the amount and an 88 per cent difference. 

He goes on to say that the average cost of a house is $329,000 in Japan, while in Singapore, properties can cost a staggering $1.6 million, which is an insane 386 per cent difference. He did not specify what type of property he was referring to for this.

"This is how cheap Japan is [compared to Singapore]," Matsuo said. 

How high are housing prices in Singapore? 

In the comments, several netizens pointed out that rental prices in Singapore are not as affordable as the $2,600 he quoted. 

Several corrected him and said that rental for a three-bedroom apartment in Singapore ranges from $3,000 to $4,500. 

Some also shared that the $1.6 million amount that Matsuo quoted for housing prices is accurate for a landed property but not a flat. 

Generally, a resale three- or four-room HDB flat in Singapore can cost around $500,000, while an average condominium can cost $1.3 million and above. 

And if you're eyeing a landed property, be prepared to fork out more than $3 million for it. 

But while not all HDB flats in Singapore cost an arm and a leg, it's true that Singapore has its own fair share of million-dollar HDB flats. 

In fact, just a few days ago, it was reported that an executive apartment in Bukit Panjang was sold for a whopping $1.02 million, making it the first flat in the area to join the million-dollar club.

As for income, Matsuo got the numbers right and according to Trading Economics, the average salary in Singapore is $5,847 a month, which adds up to $70,164 a year. 

ALSO READ: Singapore August core inflation rises 3.4%, seen easing

melissateo@asiaone.com 

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