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A survey has ranked Singapore as the ninth most expensive place in Asia to live in, local media reported on Monday.
According to human resources consultant ECA international, the rise is attributed to Singapore’s relatively strong currency compared to other major currencies in the region, local TV broadcaster Channel NewsAsia reported.
Furthermore, the prices of goods and services commonly purchased by expatriates have risen at much faster rates here than in other developed locations.
On a global basis, Singapore has gained six places in ECA’s global rankings and is now in 67th position. ECA International said Singapore’s rise up in the list continues a long term trend.
Tokyo is the most expensive city in Asia and the world. Joining Singapore and Tokyo in Asia’s top ten are the South Korean cities of Seoul and Busan as well as China’s Hong Kong, Beijing and Shanghai.