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Singapore 14th Most Expensive City In The World

In General - Old Posts on June 21, 2007 at 12:15 am

Singapore 14th Most Expensive City In The World

Quoted from Channel News Asia

SINGAPORE: Singapore has jumped three places to become the 14th most expensive city in the world for expatriates.

This is according to a Cost of Living Survey conducted by Mercer Human Resource Consulting.

The survey covers 143 cities across six continents and measures the comparative costs of over 200 items.

These include housing, transport, food, household goods and entertainment.

The cost of living Index for Singapore rose from 92 points in March 2006 to 100.4 points this year.

Mercer says the spike in house prices and climbing transportation prices have contributed to the higher ranking on the global list.

Moscow remained as the world’s most expensive city for the second year running while Asuncion in Paraguay ranks as the cheapest for the fifth consecutive year.

London is second on the worldwide list, scaling three places compared to 2006.

This is due to the stronger British pound against the US dollar and steep property rental costs.

Mercer added that the strengthening of the Euro has resulted in some European cities moving significantly up the chart this year.

Four of the world’s top 10 costliest cities are in Asia and they are Seoul, Tokyo, Hong Kong and Osaka.

Within Asia-Pacific, Singapore moved up one spot to be the fifth most expensive city. – CNA/yy

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