Singapore, Sydney most expensive cities to restart your life - report

A new report on relocation costs found that restarting your life in major cities like Singapore requires over $10,500 (Sh1.4 million) to cover rent deposits, first month payment and three months of living expenses.

This is according to the study done by the online trading platform Atmos, which analysed key rent expenses across 35 major cities to determine how much money someone needs to make a fresh start.

Getting started in Singapore costs over $10,500 (Sh1.4 million), more than any other city studied, and rent alone eats up nearly two-thirds of the budget.

The June 2026 study chose cities with high safety, excluding any with a security index below 60.

For each remaining destination, rent prices in the city centre and outside the city centre were collected, then averaged to get a typical monthly rent.

That figure was multiplied by three to account for a standard security deposit plus the first month’s rent, a cost that often catches newcomers off guard.

The research added three months of living expenses covering food, transport, and utilities to ensure the total would sustain someone through a typical job search period.

The final figure represents the cash required upfront before earning a single paycheck in a new city.

For Singapore, one requires over Sh1.4 million for the first three months. The biggest hurdle is housing. A security deposit plus first month’s rent runs $7,100 (Sh915,000), roughly two-thirds of the total.

Three months of living expenses add another $3,400 (Sh439,000).

The city has over 15,000 job openings, meaning work is available for those who can afford the entry price, but it is steep. For someone moving without a job lined up, Singapore demands more savings upfront than any other city studied.

Sydney has a restart cost of roughly $500 (Sh65,000) less than Singapore. Housing budget is about 10 per cent lower at $6,300 (Sh812,700) for deposit and first month’s rent, but three-month survival costs are the highest among the top five, amounting to $3,800 (Sh490,000).

That means daily expenses in Sydney add up faster than in any other city on the list. Job openings sit at over 10,000, but the high cost of everyday life means savings will drain quicker while searching for work.

Someone in Sydney would burn through their three-month cushion faster than someone in Singapore, despite having a smaller housing deposit.

Starting your life over in Dubai in the United Arab Emirates (UAE) costs roughly 10 per cent less than in Sydney.

Housing accounts for $5,600 (Sh722,400) of that total, and three months of living expenses run $3,400 (Sh438,600), matching Singapore.

What makes Dubai different is the safety, as it ranks highest for residents’ security among the top five. Job openings are lower at 4,600, making competition tighter.

Dubai offers a lower restart cost than its Asian and Australian rivals, with the added benefit of feeling more secure. The trade-off is fewer job opportunities.

Hong Kong ranks fourth with a restart cost of $9,000 (Sh1.2 million), identical to Dubai. Movers will need to budget $5,800 (Sh748,200) for housing, more than in Dubai.

Basic costs for three months in the city average $3,200 (Sh412,800), but these funds are hard to replenish, as the city offers only 6,100 job positions.

Hong Kong requires a similar upfront investment as Dubai, but the distribution is different. More money goes to housing, less to daily expenses.

For someone planning to cook at home rather than eat out, Hong Kong might stretch further than Dubai because daily costs are lower. Madrid rounds out the top five with a restart cost of $7,000 (Sh903,000), roughly one-third less than Singapore.

Cost of living

Housing budget averages $4000 (Sh516,000), the lowest among the top five, and the three-month cost of living is also the lowest among the top cities, at $2,900 (Sh374,000).

The safety is strong with an index of 71, but what especially makes Madrid attractive is the job market. The city has over 14,000 job openings, second only to Tokyo among the top ten. It offers a lower barrier to entry than Asian hubs while still providing strong employment opportunities.

“There is a hidden tax on starting over in a new city. It is called the security deposit. Landlords in high-demand cities can charge two or three months’ rent upfront because someone else will pay it if you will not,” said Nick Cooke, the chief executive of Atmos, who commented on the study.

 “That locks out people who have a steady income but no savings. You can earn a decent salary and still not be able to afford the entry fee. The ability to move for a better job is not about how much you make. It is about how much you have saved. And that is a barrier that has nothing to do with your potential as an employee.”