9th Most Expensive City

I read an article on Straits Times today that Singapore is the 9th most expensive city in Asia and 78th in the world. I don’t know how the survey was evaluated or the basket of goods that were considered in the ‘global survey’, I find that living costs in Singapore has risen significantly in recent years when I visited and I believe that it’s true ranking might be higher than what is shown in this survey.

In my personal context, I actually find it more expensive than New York City, for the same lifestyle. In another words, I cannot afford my lifestyle in New York back home. What do you think? If you are living overseas, do you have the same experience? Share with us.

9th most expensive city
By Fiona Chan

Worldwide, Singapore’s rising cost of living catapulted it into the 78th spot on this year’s global survey, up almost 20 places from 97th last year. — ST PHOTO: ALPHONSUS CHERN

A STRONGER currency and a rise in inflation has made Singapore a more expensive place for expats to live, a survey has found.

Singapore jumped three spots from a year ago to become the ninth priciest Asian city in the latest cost of living rankings by human resources firm ECA International.

It beat Taipei in Taiwan and China’s Shenzhen and Guangzhou, although Singapore remains cheaper than Japanese cities such as Tokyo and Yokohama, China’s Beijing and Shanghai, and Hong Kong.

Worldwide, Singapore’s rising cost of living catapulted it into the 78th spot on this year’s global survey, up almost 20 places from 97th last year.

The main reason for this movement – and, in fact, for most of the changes in this year’s survey – is exchange rate fluctuations, said ECA International.

The Sing dollar has gained about 10 per cent against the United States dollar since March. This has helped push up the cost of living in Singapore compared to some neighbouring cities that are pegged to the US dollar, such as Hong Kong.