I spent a lot of time in Hong Kong and loved it! A lot of my friends have been to Singapore and they loved it also. Very expensive was the most used comment though I think beers were equivalent to $6 to $8 each at a bar! Ouch
You might want to consider Thailand or some parts of Indonesia instead, you can really stretch your dollar there.
We have the most expensive(but not the best) cars, houses,ciggerettes and booze. If you manage to rent a room in a public housing flat, it will be around SGD$500 in the suburbs and goes up when you get closer to the city. Alot more for a private apartment.
Singapore is a FINE city. You have to keep on your toes. They whip out citation books faster than you can blink. There are actually fines for 'not flushing' a public toilet, 'chewing gum' in public, 'littering' -even if the trash is not yours and you just happen to be standing by trash on the sidewalk when a law officer comes by, 'eating' a candy bar on public transportation, picking any flower in any park or street, and a slew of others.
the crazy fines are what makes singapore one of the cleanest and safest place to live in. like other said cost of living is pretty high. no need a car if u live in the city. i wouldnt worry about the cost of living and housing. im more worry about finding a job first. once you get that down it will be like living anywhere else. im sure the jobs there pays more so it offsets the expensive cost of living there. u have a fine profession that pays good so all you gotta do is find a job.