Foreign Property News | Posted by Si Thu Aung
The latest study by The Economist Intelligence Unit found that Singapore is seven percent costlier than New York.
Singapore now shares the title of most expensive city with Hong Kong and Paris, revealed The Economist Intelligence Unit’s annual Worldwide Cost of Living Survey.
Comparing the price of more than 150 items across 133 cities globally, the survey observed a degree of convergence among the most
Singapore and regional rival Hong Kong are both seven percent costlier than New York, which shared the seventh spot with Seoul and Copenhagen.
EIU’s records of average prices in Singapore have mostly moved down.
A 330ml beer is 6.32 percent cheaper at US$2.37 compared to last
year; a kilogram of loaf is cheaper by 8.35 percent at US$3.40; a woman’s haircut is 1.46 percent cheaper at US$96.01.
Kuala Lumpur in Malaysia also emerged as another big mover as it rose 10 spots to 88th place. Bangkok (Thailand) and Manila (the Philippines) followed suit, as the two cities moved nine places to settle at joint 41st and joint 92nd respectively. Hanoi (Vietnam) and Phnom Penh (Cambodia) also moved up by six places.
Other cities in the top 10 list include Zurich (4th), Geneva and Osaka in joint 5th spot as well as Tel Aviv and Los Angeles in joint 10th place.
Ref: Property Report
