Singapore’s soaring cost of living, salaries top of residents’ concerns: survey

Results of the survey signal that pressure remains on the city state’s government to address key issues including wages and housing affordability
Most respondents said they were dissatisfied with how Singapore was handling the wealth gap, wages and the prices of homes and cars

Singapore

Bloomberg

Published: 2:02pm, 18 Oct 2023

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Singapore’s high cost of living is by far the most important issue facing the city state, according to a new survey of residents, signalling that pressure remains on the government to address key issues including wages and housing affordability.

In a poll of more than 1,500 residents ranking 25 community issues published by Blackbox Research, 59 per cent selected cost of living as their first or second choice, with salaries taking the second spot overall at 17 per cent.

While 73 per cent view current national economic conditions positively, most were dissatisfied with the government’s handling of the wealth gap, wages and the prices of homes and cars.

Private residential condominium blocks in Singapore. Most survey respondents said they were dissatisfied with the prices of homes and cars in the city sate. Photo: Reuters

The People’s Action Party, which has ruled Singapore since independence in 1965, got a boost last month after former senior minister Tharman Shanmugaratnam scored a landslide victory in the presidential election.

It came after the government sustained a series of political scandals, including a corruption probe involving a senior minister, that put its clean reputation to test.

While observers say the result in the non-partisan contest can largely be attributed to Tharman’s own popularity, what’s less clear is how recent events will affect the timing of a general election that must be called by 2025.

A good-governance meter tracked by Blackbox returned a score of 63 per cent, indicating broad satisfaction among the community in the government’s functioning.

While an ongoing money laundering probe was among the top three issues that caught people’s attention in the past few months, it was second only to the presidential election, the survey showed. Shifts in the property market was the third.

The Blackbox results released as part of a new data platform shows that just 36 per cent of those surveyed expect economic improvement at the national level in the next year, while 37 per cent anticipate further deterioration. Nevertheless, nearly four in five believe Singapore is heading in the right direction.

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