Singapore ranked fifth most expensive city in Asia

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

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 13th position, one notch higher than in 2007.

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 : Channel NewsAsia – 23 Jul 2008

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