Singapore has climbed 12 places to become the world’s 19th most expensive city for expatriates, based on the latest study by ECA International that was reported in the media.
One reason for the rankings jump is the strong local currency. “Although, like many currencies, the Singapore dollar has weakened against the US dollar between annual surveys, it strengthened against a number of other major currencies,” noted Lee Quane, ECA International’s Regional Director for Asia.
In the Asia Pacific, the republic emerged as the 9th most expensive city. But living here is still less costly than in Shanghai and Beijing, which took the top spots in the region.
It is also less expensive for expatriates to reside in Singapore than in Seoul, Hong Kong and Guangzhou, which trailed behind the two Chinese cities. Other Asian cities with a higher ranking are Busan, Tokyo and Shenzhen.
Globally, the top three spots were clinched by South Sudan’s Juba, followed by Luanda in Angola and Zurich, Switzerland. Completing the top five positions are the Swiss cities of Bern and Basel.
The cost of living per city was determined based on the allowance needed to purchase services and consumer goods typically bought by expatriates in more than 440 locations worldwide.
Although the data included clothing, groceries, basic household goods, restaurant expenses, tobacco and alcohol, it excluded utilities, school fees, car purchases and rents for accommodation.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
