Consequences of high cost of living in Singapore

Singapore is a very developed first-world country. Despite being a small island, we have many skyscrapers, industrial buildings and tourist attractions around here. We are lucky to have basic services, security and education. However, the cost of living in Singapore is very expensive. Something we buy here in Singapore can be easily two times more expensive than in other countries. For example a big mac in Singapore costs $4.70 whereas in China it costs about $2.50. Owning a car  in Singapore is also very expensive and it could easily cost up to $100 000 or more.

However, these high costs of living can result in both positive and negative results. One positive result can be that the high cost of a car in Singapore can result in lesser people buying cars and reducing air pollution, saving the earth. However, with daily necessities also becoming so expensive, the birth rate might be lower as having kids would be to expensive to raise, especially now that going to universities can be very expensive.