View Full Version : Some products cost more in S’pore than other cities: MAS & MTI study
Some products cost more in S’pore than other cities: MAS & MTI study
POSTED: 29 Apr 2014 12:36
Buying a product from Apple, Zara and IKEA could cost more in Singapore compared to 10 other cities, according to a study by the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI).
SINGAPORE: Buying a product from Apple, Zara and IKEA could cost more in Singapore compared to 10 other cities, according to a study by the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI).
According to the study -- which analyses price differences for 647 items from the three global brands across the 11 cities --"Singapore's prices are found to be relatively high in most instances".
Releasing the findings on Tuesday as part of the its Macroeconomic Review, MAS said Singapore's prices are above the median for two-thirds of the items, and prices for about a quarter of them are below the median.
This means that for the same brand, prices in Singapore can be higher than in other cities for some items but lower for others.
Among the cities included in the study are London, Paris, New York, Shanghai and Hong Kong.
MAS added that for most of the items which are more expensive in Singapore, the price premiums do not exceed 20 per cent.
The report said pricing decisions of the firms are influenced by unit cost and demand for their products in the market.
Still, the study pointed out that Singapore is not the most expensive location, and it is most expensive for only 6 per cent of the products.
MAS said the three global brands in the study -- Apple, Zara and IKEA -- were chosen given the large number of identical consumer electronics, furniture, and apparel products that could be compared across cities.
- CNA/nd
http://www.channelnewsasia.com/news/singapore/some-products-cost-more/1089024.html
World cup telecast rights etc.. think our watchdog have no teeth. :-(
consumer can dont watch. so many P2P options these days. and even u want to have a dog not to let singtel bid high . EPL dont want to sell signapore.
Londonproperty123
30-04-14, 14:48
No doubt things in Singapore getting more and more expensive.
maybe a weaker Singdollar will make people happy. they will find local services cheaper when they compare dollar to dollar with other countries. remember the days where USD was 1:1.6. now 1:1.23 people are getting a straight 30% discount.
Definitely feel good when go US.
Londonproperty123
30-04-14, 15:34
We can't get too expensive otherwise we'd be priced out of the world market. We have to be very careful.
Londonproperty123
30-04-14, 20:12
Some reflections on the cost of living issue, over Cafe Latte and a Panini.
http://londonproperty123.blogspot.sg/2014/04/cost-of-living-in-singapore-versus-uk.html
Some reflections on the cost of living issue, over Cafe Latte and a Panini.
http://londonproperty123.blogspot.sg/2014/04/cost-of-living-in-singapore-versus-uk.htmlv
Hi London
Thanks for sharing.
Nice pictures too. How come they can sell the food and drinks so reasonable in such cafe... Cheap rental?
JTC sell commercial properties at high prices to REITs and private companies, and in turn they jacked up the commercials rentals heavily! :banghead:
Then, all private owners like shop-owners, industrial property owners, office owners etc follow suit! :tsk-tsk:
All because they don't have Cooling Measures! :rolleyes:
v
Hi London
Thanks for sharing.
Nice pictures too. How come they can sell the food and drinks so reasonable in such cafe... Cheap rental?
Dont let this guy smoke u lah... REITs in singapore are govern by a set of rules. Long ago already have TDSR in Reits. If the business dont reinvent themselves pass the cost to consumers. consumers can let their finger do the walking. Thus internet Q100 or amazon. etc. The business will not make it.
Specific rules for REITs in Singapore
In Singapore, there are specific rules and regulations that a REIT has to abide by. Firstly, 90% of its net income must be distributed to its shareholders in the form of dividends. Unlike other listed companies, they do not have the liberty to choose to retain a higher percentage of their profits. Other than that, a minimum of 70% of their assets must be invested into properties and at least 75% of their income must be derived from rental income.
In Singapore, there are also specific requirements on how much debt REITs can incur. If the company does not have a credit rating, their debt to asset ratio cannot exceed 35%. And even if the company has a credit rating, their debt to asset ratio cannot exceed 60%. Such regulations have been enforced to ensure that REITs would not face the problem of over-borrowing. What this means is that if they purchase a property priced at S$100 million, the maximum amount they can borrow to finance the purchase is 60% of the property price, or S$60 million in this case.
REITs were first introduced to Singapore only 10 years ago, where the first REIT was Capital Mall Trust listed in 2001. However, the history of REITs dates back to as early as 1960 in the US. Today, there are over 180 REITs in the US, amounting to total assets worth about US$350 billion.
Londonproperty123
01-05-14, 10:07
v
Hi London
Thanks for sharing.
Nice pictures too. How come they can sell the food and drinks so reasonable in such cafe... Cheap rental?
Good questions. I have some ideas but I don't know the answer.
I would assume that high rentals is one contributory factor.
Good questions. I have some ideas but I don't know the answer.
I would assume that high rentals is one contributory factor.
weak currency compared to ours now is also a factor when u compare dollar to dollar. ? when exchange rates is 2.7 SGD to 1 pound verses now?
What a joke!
GBP is so much weaker than SGD now, and both import coffee and other ingredients.
Also, SG manpower is so much cheaper!
Combine the 2, shouldn't SG coffee be much cheaper?
Why now London coffee is cheaper? Either the Singapore business-owner is profiteering by a lot and/or Singapore commercial rental is too high! :rolleyes:
weak currency compared to ours now is also a factor when u compare dollar to dollar. ? when exchange rates is 2.7 SGD to 1 pound verses now?
Londonproperty123
01-05-14, 12:10
weak currency compared to ours now is also a factor when u compare dollar to dollar. ? when exchange rates is 2.7 SGD to 1 pound verses now?
Both Britain and Singapore are islands, even though Britain is a much bigger island than Singapore.
Like Singapore, Britain also needs to stay competitive in the world, otherwise she will be left behind. Her 'friends' in continental Europe (especially the French) don't really like the fact that Britain has done quite well over the centuries.
If we just keep getting more and more expensive, I don't know where it will lead us, but it surely can't be good for our economy. The reason why we exist is because we are useful to the world.
Both Britain and Singapore are islands, even though Britain is a much bigger island than Singapore.
Like Singapore, Britain also needs to stay competitive in the world, otherwise she will be left behind. Her 'friends' in continental Europe (especially the French) don't really like the fact that Britain has done quite well over the centuries.
If we just keep getting more and more expensive, I don't know where it will lead us, but it surely can't be good for our economy. The reason why we exist is because we are useful to the world.
yes. but we reject low cost workers. I guess its self inflicted partly.
What a joke!
GBP is so much weaker than SGD now, and both import coffee and other ingredients.
Also, SG manpower is so much cheaper!
Combine the 2, shouldn't SG coffee be much cheaper?
Why now London coffee is cheaper? Either the Singapore business-owner is profiteering by a lot and/or Singapore commercial rental is too high! :rolleyes:
Wah lau... a starbucks is 3.5 pound.
when exchange rate in 2010 is SGD 2.3 to 1L = SGD$8.05
When exchange rate in 2013 is SGD 1.8 to 1L = SGD $6.3
depends when u compare it in 2010 u feel star bucks in uk compare to Singapore is expensive. suddenly in 2013 u feel UK coffee have become cheaper. dont a strong Singapore currency make u feel things overseas are cheaper?
need me to teach u how to use calculator?
Where do you rank in the official earnings list? Figures reveal huge pay gap between rich and poor
Jan 09, 2014 08:55
Lollipop ladies £3,187 average p/a (+4.9% yearly change)
Theme park attendants £6,011 (-10.9%)
Bar staff £7,317 (-1.0%)
Playworkers £7,400 (-3.8%)
Waiters & waitresses ( £7,654 +8.3%)
Cleaners £8,067 (+1.9%)
Florists £8,960 (-6.0%)
Hairdressers £10,174 (+0.9%)
Fitness instructors £10,378 (-8.4%)
Shopworkers £11,174 (+0.3%)
Cooks £11,346 (-7.4%)
Nursery nurses £11,163 (-0.4%)
Beauticians £12,418 (+5.3%)
Window cleaners £12,561 (-11.2%)
Receptionists £12,595 (+1.8%)
Care workers £12,804 (+0.9%)
Childminders £12,949 (+2.3%)
Telephonists £14,032 (+1.5%)
Tailors & Dressmakers £14,482 (-23.5%)
Caretakers £16,114 (+3.9%)
Secretaries £16,384 (+1.1%)
Cabbies £16,416 (+4.6%)
Customer service £16,525 (+9.5%)
Undertakers £16,526 (0%)
Packers £16,820 (-0.4%)
Tele sales £17,362 (-1.1%)
Chefs £17,391 (+0.3%)
Gardeners £17,595 (-1.3%)
Street cleaners £17,616 (-3.8%)
Butchers £17,681 (+1.2%)
Hospital porters £17,748 (+5.8%)
Farm workers £17,925 (+4.9)
Traffic wardens £18,065 (-4.2%)
Travel agents £18,344 (+10.7%)
Van drivers £18,744 (+2.9%)
Tyre & exhaust fitters £18,888 (-4.2%)
Bank clerks £19,908 (+9.3%)
Youth & Community workers £20,240 (+2.6%)
Civil servants £20,330 +1.2%
Council administrators £20,351 (+2.9%)
Vicars £20,568 (-3.6%)
Security guards £20,841 (+2.2%)
Plasterers £21,155 (+0.1%)
Lab technicians £21,168 (+0.2%)
Fork lift drivers £21,444 (+0.3%)
Musicians £21,492 (+6.8%)
Roofers £21,921 (-1.5%)
Bricklayers £22,476 (-7.0%)
Painters £22,700 (+1.9%)
Ambulance staff £22,854 (+5.6%)
Housing officers £23,001 (-0.6%)
Bus & coach drivers £23,095 (+3.0%)
Posties & messengers £23,178 (+17.5%)
Librarians £23,940 (-0.3%)
Carpenters £24,029 (+1.4%)
Photographers £24,242 (-4.8%)
Farmers £24,520 (+5.5%)
Estate agents £24,783 (-8.2%)
Publicans £25,222 (+10.7%)
Mechanics £25,238 (-0.7%)
Lorry drivers £25,602 (+1.4%)
Nurses £26,158 (+0.65)
Prison officers £26,616 (+2.6%)
Welders £26,735 (-1.6%)
Printers £26,833 (+2.7%)
Speech therapists £27,470 (-0.5%)
Plumbers £27,832 (-1.2%)
Social workers £28,182 (+1.6%)
Firefighters £28,183 (+0.3%)
Office managers £28,790 (-1.8%)
Human resources personnel £28,999 (+1.0%)
Car makers £29,845 (+1.9%)
Web designers £29,870 (+5.5%)
Midwives £30,020 (+2.0%)
Scaffolders £30,591 (+2.8%)
Coal miners £30,688 (-8.8%)
PRs £31,818 (+0.4%)
Telecoms engineers £32,253 (+5.3%)
Vets £32,374 (-4.0%)
Hotel managers £32,470 (-2.0%)
Teachers £32,547 (+1.4%)
Journalists £35,117 (-0.4%)
Train builders £37,613 (+3.3%)
Civil engineers £38,236 (-2.7%)
Quantity surveyors £38,855 (+1.5%)
Police officers £39,346 (-1.2%)
Construction managers £42,066 (+8.3%)
Architects £44,024 (+3.3%)
Electrical engineers £44,430 (+3.7%)
Solicitors £44,787 (-2.3%)
Train drivers £45,489 (+3.7%)
Barristers & Judges £45,571 (-2.3%)
Health managers £46,629 (-4.7%)
Financial advisers £46,797 (-0.3%)
Dentists £53,567 (+14.3%)
Senior police £58,727 (-3.5%)
MPs Now £66,396 (+1%)
Doctors £70,646 (+1.3%)
MPs Future? £74,000 (+11%)
Airline pilots £78,482 (-0.1%)
Chief executives £117,700 (-4.4%)
http://www.mirror.co.uk/news/uk-news/uk-average-salary-26500-figures-3002995#ixzz30TBJPPQq
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