Saturday, 7 March 2015

Singapore still the world's most expensive city

Welcome to Singapore, the most expensive city in the world
Downtown Singapore's skyline is dominated by massive modern towers
Singapore was just named the world’s most expensive city by the Economist Intelligence Unit (EIU)

The cosmopolitan city-state is one of the most densely populated areas in the world, but it’s also one of the wealthiest, with about 105,000 millionaires living there — and that means that it has prices to match.

The EIU reported that Singapore is the most expensive place in the world to buy clothes, but the upscale malls of Orchard Road are still bustling as shoppers vie for designer goods.


And there are deals to be had: Singapore is world-famous for its inexpensive street food. And driving may cost a fortune, there’s no need to own a car since the city has one of the most efficient and cleanest metro systems in the world. There are also dozens of free parks to wander in — Singapore is called the “garden city” for a reason, after all.

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Singapore named the most expensive city in the world for second year running
The survey is designed to help human resource managers calculate cost-of-living allowances for business travellers

Singapore has been named the most expensive city in the world for the second year in a row, in a new survey by the Economist Intelligence Unit (EIU).

The top five cities on the list remained unchanged from last year, with Paris, Oslo, Zurich and Sydney all coming consecutively after Singapore. According to the EIU, it is “relatively rare” to have an identical top five two years in a row.


The EIU’s Worldwide Cost of Living report includes 133 cities worldwide, using New York’s prices as a base. The survey is designed to help human resource managers calculate cost-of-living allowances for business travellers and compares prices across 160 products and services, including food, drink, clothing, rent and transport.

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Singapore is world’s most expensive city followed by Paris, Sydney, Hong Kong
Singapore maintains its most expensive city ranking for the second straight year. It is the joint most expensive place in the world alongside Seoul to buy clothes. AFP

Singapore remains the most expensive city to live in, topping again the Economic Intelligence Unit’s 2015 Worldwide Cost of Living Survey.

India’s Bengaluru is among the cheapest.

Worldwide cost of living index: The top 10 most expensive cities
1. Singapore
2. Paris
3. Oslo
4. Zurich
5. Sydney
6. Melbourne
7. Geneva
8. Copenhangen
9. Hong Kong
10. Seoul

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Singapore Maintains Top Spot as World’s Costliest City, EIU Says


Singapore maintained its global ranking as the most expensive city for a second straight year on higher prices of items from wine to cars, according to the Economist Intelligence Unit.

The island nation beat Paris, Oslo, Zurich and Sydney, which also retained their spots in the ranking, the EIU’s 2015 Worldwide Cost of Living Survey released Tuesday showed. The report compares the price of products and services including food, clothing, transport, private schools and domestic help in 140 cities with New York City as a base.

Singapore, smaller in size than New York City, has seen home prices surge to records in recent years amid rising wealth and an influx of foreigners. A vehicle-permit system makes cars more expensive than in other countries, while the expansion of the island’s private banking industry and the presence of regional hubs for global companies have drawn top talent, boosting salaries.

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Singapore still the world's most expensive city
Singapore kept its title as the world's most expensive city

The Southeast Asian city-state of Singapore retained its title as the world's most expensive city for the second consecutive year, the Economist Intelligence Unit (EIU) said in a new survey.

In fact, the top five priciest cities ranked in this year's Worldwide Cost of Living Survey remained unchanged from 2014: Paris ranked second followed by Oslo, Zurich and Sydney.

"This façade of relative stability is deceptive, however, and it is extremely rare for an identical top five to be achieved in ranking the global cost of living," the EIU said.

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World's most expensive cities revealed: Singapore tops the charts again - and London doesn't even make top ten
Expensive: Singapore has topped the chart as the world's most expensive city, the EIU say

Singapore tops the list of the most expensive city in the world once again, a new survey comparing the cost of living in 133 cities reveals.

Nudging just behind Singapore is Paris, followed by Oslo, Zurich and Sydney. London is the world's eleventh most expensive city, The Economists' Intelligence Unit report says. London is now as expensive as Tokyo, which was replaced by Singapore as the most expensive city last year.

Cities in Pakistan and India, including Karachi, Bangalore and Mumbai make up four out of the top five cheapest cities to live in last year.

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Singapore Maintains Top Spot as World’s Costliest City
Tourists gather around the Merlion water fountain to see the city view in Singapore on February 12, 2015. (AFP Photo/Roslan Rahman)

Singapore maintained its global ranking as the most expensive city for a second straight year on higher prices of items from wine to cars, according to the Economist Intelligence Unit.

The island nation beat Paris, Oslo, Zurich and Sydney, which also retained their spots in the ranking, the EIU’s 2015 Worldwide Cost of Living Survey released Tuesday showed. The report compares the price of products and services including food, clothing, transport, private schools and domestic help in 140 cities with New York City as a base.

Singapore, smaller in size than New York City, has seen home prices surge to records in recent years amid rising wealth and an influx of foreigners. A vehicle-permit system makes cars more expensive than in other countries, while the expansion of the island’s private banking industry and the presence of regional hubs for global companies have drawn top talent, boosting salaries.

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Singapore world's most expensive city
Singapore topped the list for a second time (file)

A new report has listed major Asian, Australian and Western European cities amongst the most expensive places to live in the world.

Singapore come out on top while Paris, Oslo, Zurich and Sydney rounded out the top five, matching a 2013 report on the same subject.

The list is produced by the Economist Intelligence Unit (EIU) biannually, and surveys 133 cities on the cost of 160 services and products including food, clothing and utility bills.

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These Are The Most Expensive Cities On Earth
The city skyline is seen lit through the suspension wires of the Singapore Flyer which is also lit on Saturday, March 23, 2013 in Singapore. More than 100 buildings, locations and organizations in Singapore switched off their lights as part of the global Earth Hour initiative by World Wide Fund for Nature (WWF) along with other national monuments around the world. (AP Photo/Wong Maye-E)

Think your cost of living is high? You should try living in Singapore. According to the Economist Intelligence Unit’s (EIU) bi-annual Worldwide Cost of Living report, the tiny island city of Singapore holds the distinction as being nearly unlivable thanks to its cost of living.

The cost of living report is a twice yearly survey comparing more than 400 individual prices across 160 products and services. According to the report, these goods include “food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.”

The report compares 133 cities with New York City set as the standard base of the study.

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Full Coverage:
The Age Melbourne: the world's sixth most expensive city
3News NZ Singapore world's most expensive city
RYOT These Are The Most Expensive Cities On Earth
Bustle The Most Expensive Cities In The World Make New York City Look Like A Picnic
Scotsman Singapore named world's most expensive city
TODAYonline S'pore still most expensive city for expats
Marie Claire Australia World's Most Expensive Cities Revealed
Business Insider Australia Welcome to Singapore, the most expensive city in the world
Prensa Latina Singapore, the Most Expensive City of the World
The Daily Star Singapore remains world's most expensive city
Pulse Nigeria World's Expensive Cities: S'pore is the most expensive city in the world
Economic Times Bangalore, Karachi -- cheapest cities to live in: Survey
International NewsNetwork: Karachi which feeds all, declared cheapest city of the world
Business Standard Singapore world's most expensive city for expats
SAMAA TV Karachi enjoys lowest cost of living in world: survey
swissinfo.ch Zurich and Geneva become the world's dearest cities
Business Insider Australia Australian cities dominate the world's 10 most expensive
Businessinsider India The 10 most expensive cities in the world
FinFact Ireland Zurich, Geneva overtake Spore to become world's most expensive cities
TIME These Are the World's Most Expensive Cities
Chicago Tribune Singapore maintains top spot as world's costliest city, EIU says
The Independent Spore named most expensive city in the world for second year running
The News Teller Karachi is the 'cheapest' and Singapore City is most expensive: EIU
Relocate Magazine Singapore or Zurich – most expensive for expats
Livemint Singapore is world's most expensive city followed by Paris, Sydney, Hong Kong
TODAYonline Singapore remains the world's most expensive city for expats: EIU ranking
Co.Exist These Are The World's Safest Cities
Shanghai Daily Singapore remains priciest city for expats
Huffington Post These Are The Most And Least Expensive Cities In The World
This is Money World's most expensive cities revealed: Singapore tops the charts again


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Singapore now the world’s most expensive city: 2014

Singapore has topped the Economist Intelligence Unit (EIU) list of the world’s most expensive cities to live in, according to the 2014 list released yesterday (this morning, March 4, Singapore time).

Singapore jumped five places from No 6 last year to top this year’s list after rising in the list in recent years. The city was ranked No 18 a decade ago in the EIU's Worldwide Cost of Living Survey.

The Republic’s strong currency, which has appreciated about 40 per cent over the past decade, combined with soaring utility bills and the high cost of car ownership contributed to Singapore’s rise in the list, according to the EIU. Singapore is also the most expensive place in the world to buy clothes.

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related:
Singapore Is The World’s Most Expensive City
Singapore still the world's most expensive city
Singapore is ‘World’s Costliest City To Live In’
Singapore now the world’s most expensive city
Coping with Inflation & Cost Of Living

The Singapore Story:
ChasingThe Singapore Dream
Longing for the good old days
To Be Or Not To Be Singaporeans
Singapore is ‘World’s Costliest City To Live In’
Coping with Inflation & Cost Of Living
COL goes Up, Up, Up!
Singapore “Swiss” Standard of Living
Support for the Needy and Elderly
Tackling poverty the 'kuih lapis' way
Callings for a Poverty Line
Setting a poverty line may not be helpful
A minimum wage for Singapore?
The Poor & Homeless in Singapore
The Singapore Story
Other Side of The Singapore Story
No homeless, destitute, starving people in S'pore. Poverty eradicated
Growing Up With Less