What’s the cost of living like in New Zealand?
When coming to a new country, you’ll need to know about the differences in cost of items that affect your daily life.
Exchange rate and everyday prices
The exchange rate as of October 2011 is as such:
1 x Singapore dollar will get you approximately 0.98 New Zealand Dollars
1 x Malaysian Ringitt will get you 9.40 New Zealand Dollars
New Zealand manufactures a wide range of competitively-priced consumer goods of a similar style and standard to those found overseas. Imported items will be slightly more expensive than if purchased in Singapore.
A Goods and Service Tax (GST) of 15% applies to everything except income and financial transactions. This tax is usually included in the shelf price (not added on at the point of sale), so if the tag says $10, that is what you’ll pay.
Here are a few examples to give you an idea of what you’ll be paying (please note that all prices are approximate):
Compare Average Costs for some Standard Items:
Washing machine
5kg electronic
NZ$850
Round of golf 18 holes
NZ$20 - $100
Cup of coffee
NZ$3.50
40” LCD flat screen television
NZ$2,599
Pair of jeans
NZ$100 - $200
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Movie ticket
NZ$15
Ford focus
2.0L, 5 speed manual
5 door hatch
NZ$32,000
Litre of petrol
NZ$2.10
Car insurance
NZ$350/year
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Prices may fluctuate
Housing
Compared to prices in Singapore and Malaysia, you’ll probably find your money will go a very long way in the New Zealand housing market. Many people choose to rent a property while living in New Zealand. Tenants pay per week and depending on the type of housing you choose, costs can range anywhere from NZ$100 to thousands of dollars a week.
The average house price, as of December 2009, is under NZ$350,000 – but this can vary depending on where you choose to live. For example, if you’re planning on moving to one of the bigger cities in New Zealand, prices would be closer to NZ$500,000.
Unlike in Singapore and Malaysia, where there is such a high population density, you’ll be able to find yourself affordable housing with a great location to match. With room for expansion, many people enjoy a garden or backyard, even if they live just outside the Central Business District.
To learn more about housing on the NewZealandNow website click here.
Transportation
While public transport may be the most popular way to get around Singapore and Malaysia, in New Zealand it’s quite common, and at times, more convenient to own a car. You can find affordable vehicles, new or used. However, public transport is also a great way to get around. Buses, trains, ferries and planes are all easily accessed.
To learn more about transportation on the NewZealandNow website click here.
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