I have spent the last six years in singapore on on contract as a licensed aircraft engineer...here is my two cents worth. Finished off in Feb 04. Now back in Syd.
presently rents at Bayshore park about $2000/month-3 bedroom 1250sqft
Transport approx $500/mth using basically taxis and only 7mins away from work
Beer can be expensive so budget about $500 to maintain same lifestyle as in Oz
Utilities about $250/month
Cable n broadband internet about $80/month
Mobile phone about $250/month
Groceries about $400/month..similar to Woolies...Cold Storage
Schooling for kids at Australian school or Eaton..similar to Australian based schools..approx 1200/month per child...info from my other friends there.
In my opinion you should not have to give up your lifestyle you had in Australia. Try to achieve it with the package you get and if it is similar and a little more...it is good. Singapore is a great place to start of your adventure overseas but you must also understand that it is not your trainset. As in anywhere you will meet nice and bad people and all I can say make the most of it!
Good luck to you gus out there...also experience like working there in Singapore will not be found in sheltered Oz. Be cool and just be nice will get you far!
