5th Most Expensive City in Asia - Singapore

Singapore is now the fifth most expensive city in Asia, according to Mercer Worldwide Cost of Living Survey.

In Asia, the cost of international-standard accommodation has pushed some cities up the ranking. For example, sharp increases in house prices have contributed to Singapore climbing from 17th to 14th position. Rising property prices have also caused Indian cities to move up the ranking – for example, Mumbai has jumped from position 68 to 52 (score 84.9).

Singapore’s rise in rankings is partly due to the appreciation of the Singapore dollar against the US dollar.

Other contributing factors include its high quality of living and continued strength as a regional hub.

Tokyo is the costliest Asian city, followed by Seoul, Hong Kong and Osaka.

In world standings, Singapore is in 14th position.

Moscow was ranked the most expensive city both in Europe and globally for the third year running.

Mercer’s survey covered 143 countries across six continents. - CNA/de

Source ChannelNewsAsia and FinFacts.ie
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