Singapore out of top 20 most expensive locations for expats

THE cost of living for expatriates in Singapore is now lower than many of its Asian neighbours such as Hong Kong, Tokyo and Seoul.

According to the latest Cost of Living survey by ECA International, Singapore's global ranking has fallen from 18th place in 2016 to 24th this year. While prices have gone up in local currency terms, the Singapore dollar has depreciated against many currencies over the course of last year, resulting in a relative lower cost of living for expatriates.

Cities that dominated the rankings include Luanda in first place, followed by traditional rival Hong Kong in second. Swiss cities of Zurich, Geneva, Basel and Bern nabbed the next four spots. Tokyo came in 7th place while Seoul came in 8th.

The cost of living indices track a basket of day-to-day goods and services including food, household goods and general necessities. Costs such as accommodation rental, utilities, car purchases and school fees are not included.