Is Singapore becoming tech-spensive?
John Chan | Mar 07, 2008
If you are a geek, and are on a trip to Japan or the US, there is no doubt that a visit to a tech shopping area like Akihabara would be in order. Not only do these places have amazing variety that makes your local tech mall look like a 7-Eleven store, prices are generally cheaper there even after you factor in the exchange rate. To a lesser extent, Singapore has had such a reputation in this region, too. You frequently see tourists or businessmen from countries like Malaysian, Indonesia, the Philippines and even the Middle East snapping up items from tech malls like Sim Lim Square and Funan DigitalLife Mall.
But a recent discussion on the Singapore Palm Users' Group (SPUG) got me thinking, is Singapore becoming too expensive? Someone commented that a new, unlocked Palm Centro costs S$598 (US$430) in Singapore, HK$288 (US$370) in Hong Kong, £199 (US$395) in the UK, and €299 (US$455) for the rest of Europe. This makes Singapore the most expensive place to buy one after Europe. Even if you take away the 7 percent tax, it is still much more expensive than in Hong Kong.
You can brush this off as a one-off incident, but the truth is that the appreciation of the Singapore dollar and the depreciation of the US dollar make this inevitable. Also, the cost of living and inflation will start to take its toll on these "luxury goods", and soon, it won't make sense to buy these items in Singapore any longer if you are not a local here. Just try to configure a computer on the Apple online store and then compare it to the Hong Kong and US prices. It's the same situation as with the Centro.
Admittedly, items like computer components and memory cards are still a steal in Singapore compared to the rest of Southeast Asia. But if things continue to move the way they do, our friends from the neighboring countries may just wait till they go to Hong Kong or simply ship stuff from the US. Maybe even Singaporeans may do well to import them directly.
If you don't live in the city-state, have you ever bought tech goods in Singapore previously? Do you find that things are more expensive now? Share your experiences below.
Talkback
nubnub75 says...
Oh man... This is not good
Mar 11, 2008 01:09
Oh man... This is not good
Mar 11, 2008 01:09
ferdiei says...
there were many times that Singapore & Hong Kong are being compared to one another, since both have similar geographical characteristics, being a port city, and have had similar financial structures under their british rule. but because of the smaller market a country has & what has been taken into consideration in the profit margin of the operators/sellers (together with being a 'kiasu'), Singapore tends to sell at a premium price rather than HK to rake in profits at a marginally higher level within a shorter span of time(which explains product launches here are quite ahead than the rest of the world), with the current speed of newER product introductions & the hi-mix/low-volume market opportunity in this side of the world - ASIA.
Mar 13, 2008 21:37
there were many times that Singapore & Hong Kong are being compared to one another, since both have similar geographical characteristics, being a port city, and have had similar financial structures under their british rule. but because of the smaller market a country has & what has been taken into consideration in the profit margin of the operators/sellers (together with being a 'kiasu'), Singapore tends to sell at a premium price rather than HK to rake in profits at a marginally higher level within a shorter span of time(which explains product launches here are quite ahead than the rest of the world), with the current speed of newER product introductions & the hi-mix/low-volume market opportunity in this side of the world - ASIA.
Mar 13, 2008 21:37
ceevee369 says...
I hate open question endings. The editor could give at least some advice. My advice on items I know is that LCD and camera's might be less expensive in TW vs other Asia countries. Hk is 5-10% less expensive on camera's and Mob phones vs. taiwan. Fill in the rest
Mar 26, 2008 22:36
I hate open question endings. The editor could give at least some advice. My advice on items I know is that LCD and camera's might be less expensive in TW vs other Asia countries. Hk is 5-10% less expensive on camera's and Mob phones vs. taiwan. Fill in the rest
Mar 26, 2008 22:36
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kcslchin
Interesting food for thought!
Mar 09, 2008 23:11