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Study: KL Residents Need At Least RM3,300 Monthly To Survive

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Source: Ismail Bashiri|Unsplash & Zhang Kenny|Unsplash

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It’s probably time for you to re-examine your earnings and expenses!

If you’re living in Kuala Lumpur, you already know that it’s NOT CHEAP! Especially with the pandemic, living in the city has been increasingly difficult which is what has lead to many millennials moving back to their parent’s houses.

If you’re a young student looking to moving to the big city to live your budget-New York dreams, iPrice Group released research that gathered the estimated monthly cost of living in six of Southeast Asia’s popular cities and found that in comparison, living in KL is relatively cheaper?

Among the six Southeast Asian cities (KL, Singapore, Bangkok, Jakarta, Ho Chi Minh, Manila), KL has the lowest rent prices while Singapore has the highest. The price of a one-bedroom apartment in the city centre of Singapore is RM6,200which is 81% higher than Kuala Lumpur’s. According to the database, the cost of a single-bedroom apartment in the city centre is at least about RM1,200 in Kuala Lumpur and about RM700 outside the city centre.

What about the cost of living?

Well, how much do you actually need to earn a minimum of to survive in KL? The data gathered revealed that the cost of living in Kuala Lumpur is the cheapest among its Southeast Asian peers, with an estimate of RM3,262 a month for a single person.

However, it is to be noted that Malaysias’ minimum wage is RM1,200 in most major cities which is almost 63% higher than the legal minimum salary per month.

 Kuala Lumpur is ranked to have the second-highest monthly average net salary where the residents are estimated to earn a net salary of RM4,259, right behind Singapore residents, who are estimated to earn RM10,195 a month. 

“Hence, the quality of life in Kuala Lumpur is relatively better, especially after comparing it to other SEA cities, such as Manila residents, who are only estimated to earn RM1,609.”

If you’re living in KL, do agree with this research? Let us know in the comments section!

 

Also read: Survey: Only 12% Of M’sian Youths Think They Can Achieve Work-Life Balance

Source: iPrice


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