A lot of the MI guys (from Oz) were living in new, unfurnished apartments for about 1700 SG or furnished for about 2000 SG - East Coast. Pool, Gym etc. Thats about 1000 - 1200 USD. Now, 3000 USD (5000 SG) would get you a penthouse in some places.
There are hundreds of empty units in East Coast alone so prices will stay low for a while.
Transport in SIN is much cheaper than oz or the US. But dont buy a car. And as others have said,dont expect to educate children either.
A lot of guys in Oz are quite interested in DHL - better than driving 146's around the gaffa.