You are not just paying for some concrete walls, land and electrical wiring. You are paying for the right to live in Singapore, where you have the freedom to pursue opportunities regardless of your race and religion. The government invests in your education regardless of your skin colour and choice of religion, the country you live in is free from war, civil unrest, lots of public infrastructure and the national past time is feasting. That is why your home in Singapore costs so much.
If you are not happy, you are always free to build your bungalow in Malaysia or Thailand or Philippines, where the price of property is much lower. For very very good reasons!