Manila among Southeast Asia’s most expensive cities to live in —study
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Manila is one of the most expensive cities to live in in six Southeast Asian countries even as its residents have the lowest average salary across the region, a recent study revealed.
Research conducted by e-commerce aggregator iPrice found that the monthly cost of living is estimated at P50,800 for a single person per month, and P28,800 excluding rent.
This is slightly lower than Bangkok’s P51,500 per person, and Singapore’s which, according to iPrice’s study, is at least 132% higher than the others.
Manila’s cost of living is 33% higher than in Kuala Lumpur, and 24% in Jakarta.
Manila’s cost of living is higher than its average salary of P18,900 per month, which is the lowest estimated average net salary among the other cities based on Numbeo records.
“Given the prices stated above, it leaves us wondering how comfortable Filipinos residing in Manila really are. The average cost of living is 168% higher than the average salary,” said iPrice.
In terms of rent prices, Manila has the second-highest across the region, followed only by Singapore which is a developed country.
The price of a one-bedroom apartment in Manila is 56% higher than in Kuala Lumpur, 47% higher than in Jakarta, 31% higher than Ho Chi Minh, and 9% higher than Bangkok, iPrice said.
“This leaves you wondering what other things Manila residents need to bear with given the high costs and low wages,” iPrice said in its writeup.
“Perhaps leisure expenses or take-outs are kept to a minimum or aren’t enjoyed at all. This, along with Manila having the second-worst traffic in the world, gives you an idea of its residents’ quality of life,” it added.
In 2018, the National Economic and Development Authority (NEDA) said a typical Filipino family of five needs a monthly income of P42,000 to live “decently.”
The highest minimum wage in the Philippines is in Metro Manila at P500 to P537 daily, or equivalent to P10,740 for 20 working days per month. This was last adjusted in 2018. —KBK, GMA News
This article Manila among Southeast Asia’s most expensive cities to live in —study was originally published in GMA News Online.