In 2024, Singapore's cost of living index was at ****, compared to that of New York City as a base of 100. This meant that Singapore was about ** percent more affordable than New York City. With a local purchasing power index of ***, residents with an average salary in Singapore are able to afford more goods and services compared to the base city of New York City. In that year, Singapore had the highest cost of living index in Asia.

Cost of Living Index by Country, 2024 Mid Year data Data scraped from Numbeo: www.numbeo.com/cost-of-living/rankings_by_country.jsp All credits to Numbeo: www.numbeo.com/cost-of-living/

An index of 100 reflects the same living cost as in New York City, United States. As of 2024 Mid Year data, in NYC, A family of four estimated monthly costs are $6,074.40 without rent. A single person's estimated monthly costs are $1,640.90 without rent.

Zurich, Lausanne, and Geneva were ranked as the most expensive cities worldwide with indices of ************************ Almost half of the 11 most expensive cities were in Switzerland.

South Korea's capital Seoul had the highest cost of living among megacities in the Asia-Pacific region in 2024, with an index score of ****. Japan's capital Tokyo followed with a cost of living index score of ****. AffordabilityIn terms of housing affordability, Chinese megacity Shanghai had the highest rent index score in 2024. Affordability has become an issue in certain megacities across the Asia-Pacific region, with accommodation proving expensive. Next to Shanghai, Japanese capital Tokyo and South Korean capital Seoul boast some of the highest rent indices in the region. Increased opportunities in megacitiesAs the biggest region in the world, it is not surprising that the Asia-Pacific region is home to 28 megacities as of January 2024, with expectations that this number will dramatically increase by 2030. The growing number of megacities in the Asia-Pacific region can be attributed to raised levels of employment and living conditions. Cities such as Tokyo, Shanghai, and Beijing have become economic and industrial hubs. Subsequently, these cities have forged a reputation as being the in-trend places to live among the younger generations. This reputation has also pushed them to become enticing to tourists, with Tokyo displaying increased numbers of tourists throughout recent years, which in turn has created more job opportunities for inhabitants. As well as Tokyo, Shanghai has benefitted from the increased tourism, and has demonstrated an increasing population. A big factor in this population increase could be due to the migration of citizens to the city, seeking better employment possibilities.

Damascus in Syria was ranked as the least expensive city worldwide in 2023, with an index score of ** out of 100. The country has been marred by civil war over the last decade, hitting the country's economy hard. Other cities in the Middle East and North Africa, such as Tehran, Tripoli, and Tunis, are also present on the list. On the other hand, Singapore and Zurich were ranked the most expensive cities in the world.

Comprehensive cost of living breakdown for Singapore including housing, food, transportation, and healthcare costs for retirement planning.

Consumer Price Index CPI in Singapore increased to 101.30 points in September from 101 points in August of 2025. This dataset provides the latest reported value for - Singapore Consumer Price Index (CPI) - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In a survey conducted by Milieu Insight on the living situation of Singaporeans, ** percent of respondents felt that housing prices in Singapore for young people were unaffordable. Housing affordability is one of the main factors preventing adults from moving out of their parents' home.

Co-Living Space Market Outlook

According to our latest research, the Global Co-Living Space market size was valued at $21.4 billion in 2024 and is projected to reach $72.6 billion by 2033, expanding at a robust CAGR of 14.2% during the forecast period of 2024–2033. The primary driver fueling this substantial growth is the rising demand for affordable and flexible housing solutions among urban millennials and young professionals worldwide. As urbanization accelerates and the cost of living in major cities continues to soar, co-living spaces offer a compelling alternative by combining affordability, convenience, and a sense of community. This evolving lifestyle preference, coupled with technological advancements in property management and digital platforms, is reshaping the residential real estate landscape and positioning co-living as a mainstream solution for the future of urban living.

Regional Outlook

North America currently commands the largest share of the global co-living space market, accounting for nearly 35% of total market revenue in 2024. This dominance is attributed to the region’s mature real estate infrastructure, high urbanization rates, and a robust ecosystem of tech-enabled property management companies. Cities such as New York, San Francisco, and Toronto have witnessed a surge in co-living developments, driven by a growing population of young professionals and students seeking cost-effective and socially engaging living arrangements. Furthermore, favorable regulatory frameworks and the proliferation of venture-backed startups have accelerated the adoption of co-living models, making North America a benchmark for operational excellence and innovation in the sector.

The Asia Pacific region is emerging as the fastest-growing market, projected to register a remarkable CAGR of 17.8% from 2024 to 2033. This growth trajectory is propelled by rapid urban migration, a burgeoning middle class, and escalating property prices in metropolitan hubs like Beijing, Mumbai, Singapore, and Sydney. Governments in the region are increasingly supportive of alternative housing formats to address urban housing shortages, while real estate developers and institutional investors are ramping up investments in co-living projects. The region’s youthful demographic profile and cultural openness to shared living further catalyze market expansion, positioning Asia Pacific as a critical engine for future growth in the global co-living space market.

In emerging economies across Latin America, the Middle East, and Africa, the adoption of co-living spaces is gaining momentum but faces unique challenges. Limited awareness, regulatory ambiguities, and varying cultural perceptions of shared living can hinder rapid adoption. However, as urbanization intensifies and the demand for affordable housing rises, these markets present significant untapped potential. Localized demand is being addressed through partnerships with universities, corporations, and local governments, while regulatory reforms and pilot projects are gradually paving the way for broader acceptance. Despite infrastructural and policy hurdles, the long-term outlook for co-living in these regions remains optimistic, especially as global operators and investors begin to explore these nascent markets.

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Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

At **** U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the January 2025 Big Mac index. Concurrently, the cost of a Big Mac was **** dollars in the U.S., and **** U.S. dollars in the Euro area. What is the Big Mac index? The Big Mac index, published by The Economist, is a novel way of measuring whether the market exchange rates for different countries’ currencies are overvalued or undervalued. It does this by measuring each currency against a common standard – the Big Mac hamburger sold by McDonald’s restaurants all over the world. Twice a year the Economist converts the average national price of a Big Mac into U.S. dollars using the exchange rate at that point in time. As a Big Mac is a completely standardized product across the world, the argument goes that it should have the same relative cost in every country. Differences in the cost of a Big Mac expressed as U.S. dollars therefore reflect differences in the purchasing power of each currency. Is the Big Mac index a good measure of purchasing power parity? Purchasing power parity (PPP) is the idea that items should cost the same in different countries, based on the exchange rate at that time. This relationship does not hold in practice. Factors like tax rates, wage regulations, whether components need to be imported, and the level of market competition all contribute to price variations between countries. The Big Mac index does measure this basic point – that one U.S. dollar can buy more in some countries than others. There are more accurate ways to measure differences in PPP though, which convert a larger range of products into their dollar price. Adjusting for PPP can have a massive effect on how we understand a country’s economy. The country with the largest GDP adjusted for PPP is China, but when looking at the unadjusted GDP of different countries, the U.S. has the largest economy.

Transformable Micro Apartment Market Outlook

According to our latest research, the global transformable micro apartment market size reached USD 43.7 billion in 2024, supported by a robust urbanization trend and growing demand for space-efficient living solutions. The market is projected to expand at a CAGR of 8.9% from 2025 to 2033, reaching a forecasted market size of USD 94.2 billion by 2033. This remarkable growth is primarily driven by the increasing scarcity of urban land, rising real estate prices, and the evolving lifestyle preferences of younger, mobile populations seeking affordable, flexible housing options.

The surge in urban migration, particularly among millennials and Generation Z, is a pivotal growth factor for the transformable micro apartment market. As more people flock to metropolitan centers for employment and education opportunities, the demand for affordable yet functional living spaces has soared. Transformable micro apartments cater to this demographic by offering innovative layouts and convertible furniture that maximize utility within limited square footage. Furthermore, the growing acceptance of shared and compact living, coupled with an increased focus on sustainability, has encouraged developers to invest in modular and smart micro apartment designs. These solutions not only address the affordability crisis but also align with the eco-conscious values prevalent among younger urban dwellers.

Technological advancements in smart home integration and modular construction techniques are further accelerating the adoption of transformable micro apartments. The integration of IoT-enabled devices, automated furniture, and energy-efficient systems has transformed micro apartments into highly functional, connected living environments. Modular construction, in particular, allows for faster project completion, cost savings, and customization, making it attractive to both developers and end-users. As urban land becomes increasingly scarce and expensive, these technological innovations support the development of high-density, space-optimized housing that meets regulatory standards and consumer expectations for comfort and convenience.

The market’s momentum is also fueled by shifting cultural attitudes towards ownership and minimalism. The rising popularity of the “tiny living” movement, which emphasizes quality over quantity and experiences over possessions, has made transformable micro apartments an aspirational choice for many urbanites. Governments and municipalities, recognizing the need to address housing shortages and promote sustainable urban growth, are introducing supportive policies and incentives for micro apartment developments. These initiatives, combined with the active participation of private real estate developers and hospitality providers, are creating a fertile environment for the market’s continued expansion over the next decade.

Regionally, Asia Pacific leads the global transformable micro apartment market, driven by rapid urbanization in cities such as Tokyo, Shanghai, and Singapore. North America and Europe are also experiencing significant growth, propelled by rising housing costs in major cities and a growing acceptance of compact living among young professionals and students. Meanwhile, emerging markets in Latin America and the Middle East & Africa are beginning to embrace micro apartment concepts, particularly in urban centers grappling with housing shortages and affordability challenges. The regional landscape is characterized by diverse regulatory environments, cultural preferences, and economic factors, all of which influence the adoption and growth trajectory of transformable micro apartments.

Product Type Analysis

The product type segment of the transformable micro apartment market encompasses modular micro apartments, convertible furniture apartments, smart micro apartments, and other innovative configurations. Modular micro apartments have gained significant traction due to th

In a survey conducted by Milieu Insight on the living situation of Singaporeans, ** percent of respondents stated that they were still living with their parents or their childhood family. Moving out of the family home and living alone is still an uncommon practice in Singapore, where the cost of housing is relatively high.

Mid‑Term Rental Platforms Market Outlook

According to our latest research, the Global Mid‑Term Rental Platforms market size was valued at $6.2 billion in 2024 and is projected to reach $18.7 billion by 2033, expanding at a CAGR of 12.8% during the forecast period of 2024–2033. This remarkable growth trajectory is primarily driven by the rising demand for flexible housing solutions among digital nomads, expatriates, students, and corporations seeking alternatives to traditional long-term leases and short-term vacation rentals. The evolution of remote work, globalization of talent, and increasing mobility of the workforce have fundamentally altered living patterns, fueling demand for mid-term rental options that offer both convenience and cost-effectiveness. As urbanization accelerates and consumers seek adaptable, tech-enabled housing solutions, the mid-term rental platforms market is poised for robust expansion on a global scale.

Regional Outlook

The North American region currently commands the largest share of the global mid-term rental platforms market, accounting for approximately 38% of total market value in 2024. This dominance is underpinned by a mature digital infrastructure, high internet penetration, and a well-established ecosystem of property management and rental technology providers. The United States, in particular, has witnessed strong adoption among urban professionals, students, and corporate clients, driven by the proliferation of remote work and frequent corporate relocations. Regulatory clarity in key metropolitan areas, coupled with a robust supply of diverse property types, has further accelerated the market’s maturity. Additionally, the presence of leading platform innovators and strong venture capital backing has enabled rapid scaling and innovation, positioning North America as the bellwether for mid-term rental trends.

In contrast, the Asia Pacific region is emerging as the fastest-growing market, projected to register a CAGR of 15.2% from 2024 to 2033. Rapid urbanization, a burgeoning middle class, and the growing influx of international students and expatriates are fueling demand for flexible rental solutions in cities such as Singapore, Tokyo, Sydney, and Bangalore. Governments across the region are increasingly embracing digital transformation in real estate, while local and international investors are pouring capital into platform development and property acquisition. The rise of tech-savvy millennial and Gen Z populations, combined with escalating real estate prices and housing shortages in major urban centers, is accelerating the shift toward mid-term rentals as a viable, affordable alternative. Strategic partnerships between local developers and global platform providers are also fostering innovation and market penetration.

Meanwhile, emerging economies in Latin America and the Middle East & Africa present both significant opportunities and unique challenges for mid-term rental platforms. While demand is growing, especially in gateway cities and educational hubs, adoption is often hampered by fragmented regulatory environments, limited digital payment infrastructure, and a lack of standardized property listings. Localized demand is shaped by specific cultural factors, such as extended family living arrangements and varying attitudes toward rental versus ownership. However, government initiatives to promote smart cities, digital transformation, and international investment in real estate are gradually creating a more conducive environment for mid-term rental platforms. Overcoming these market entry barriers will require tailored strategies, robust localization, and close collaboration with regional stakeholders.

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