S'pore is 9th most expensive Asian city
Shifts in ranking in cost-of-living survey mainly due to currency movements
[SINGAPORE] The Republic has slipped one spot to become the ninth most expensive Asian city for expatriates, marking the first time since 2010 that it has fallen behind Hong Kong in eighth position.
ECA International, which undertakes this biannual cost-of-living survey, said this was largely due to the recent weakening of the Singapore dollar against the US dollar, to which the Hong Kong currency is pegged.
Its Asia regional director Lee Quane told The Business Times: "Singapore has been leapfrogged by Hong Kong mainly because of currency movements. We collect our data in local currency, but for the purposes of the rankings, we convert all prices to USD.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Strong demand for ECs could spur competition for Pasir Ris GLS site
Singapore’s STT GDC to co-develop US$420 million data centre in Vietnam
10 terrific 2022 Beaujolais to drink now, or in a few years
Eurozone home loan stress ‘manageable’ despite high rates, says ECB
Cordlife to cancel private placement; MOH stresses importance of local directors
Sasseur Reit posts 1.2% rise in Q1 rental income; changes to semi-annual distributions