:mad: S'pore jumps 3 spots to become 6th most expensive city in Asia

[ThePlen]

Singapore has jumped three places this year to become the sixth most expensive city in Asia for expatriates to live in, according to the latest cost of living survey from ECA International.

The company, which provides solutions for firms sending their staff overseas, said the continued strength of the Singapore dollar against major currencies had pushed the republic up the global ranking.

ECA International also said prices of goods and services commonly purchased by international assignees have risen at much faster rates in Singapore than in other developed locations in the region.

It said such goods and services now cost almost three per cent more in Singapore than in Hong Kong. Just a year ago, they cost five per cent more in Hong Kong than here.

Singapore rose to the 36th spot from 68th in the global ranking in one year.

ECA International pointed out that Singapore is now more expensive for international assignees than Hong Kong, New York, Amsterdam, Frankfurt and Shanghai.

However, Lee Quane, ECA International's regional director (Asia), believes that the main reason for Singapore's rise in ranking over the past 12 months was the strength of its currency.

He said the Singapore dollar has risen by more than 10 per cent against the greenback between the surveys.

This, he said, is a double-edged sword.

On the one hand, companies sending staff out of Singapore need to pay lower cost of living allowances for an employee to maintain their standard of living on assignment.

On the other hand, for companies bringing staff into Singapore, allowances will carry on increasing as Singapore continues to rise on the ranking table.

Meanwhile, Tokyo remains the most expensive city for international assignees.

ECA International said that although Japan is the only Asian country surveyed where the actual cost of goods in the ECA basket of goods has fallen, a strong currency and already higher costs for goods mean that the cost of living for assignees is significantly more than in other locations in the top ten ranking.

Globally, Tokyo heads the top 10 list followed by Oslo, Nagoya, Stavanger in Norway, Yokohoma, Zurich, Angola's capital Luanda, Geneva, Kobe and the Swiss capital of Bern.

The region's top 10 most expensive cities are:
1) Tokyo
2) Nagoya
3) Yokohama
4) Kobe
5) Seoul
6) Singapore
7) Hong Kong
8) Beijing
9) Shanghai
10) Busan

- CNA/al

 

[po2wq]

... The region's top 10 most expensive cities are:
1) Tokyo
2) Nagoya
3) Yokohama
4) Kobe
5) Seoul
6) Singapore
7) Hong Kong
8) Beijing
9) Shanghai
10) Busan ...

sg can ezily mov in2 top 3 ...

go 4 it, man! ...

 

[Muthukali]

knn so ex.. yet wages stagnant...... 3/4 of the wages every months goes to the garment...... left 1/4, what can you do with it. saving? u can forget bout it. unlike japan, things expensive, yet citizen somehow or rather have more privileges.

 

[Char_Azn]

Read this kinda stuff they always say basket of goods. I'm very curious to know what they actually put in that basket.

 

[karmabear]

Read this kinda stuff they always say basket of goods. I'm very curious to know what they actually put in that basket.

There you go.... Doing this to encourage you to do reference checks. Can apply to PAP or opposition dogs

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About ECA’s Cost of Living Survey
ECA International’s cost of living indices are calculated based upon surveys carried out annually in March and September using a basket of day-to-day goods and services. The data used above refers to year on year movements between ECA’s March 2011 and 2010 surveys.

The data is used by ECA clients to calculate cost of living allowances for assignees. The survey covers:
Food: Groceries; dairy produce; meat and fish; fresh fruit and vegetables
Basic: Drink and tobacco; miscellaneous goods; services
General: Clothing; electrical goods; motoring; meals out

Certain living costs such as accommodation, utilities (electricity, gas, water costs), car purchase and school fees are not included in the survey. Such items can make a significant difference to expenses but are usually compensated for separately in expatriate packages.

This comparison of cost of living was calculated on a base composed of various developed countries and is used to reflect an international lifestyle. Other indices available from ECA reflect specific city-to-city comparisons, and different levels of shopping efficiency.

http://www.eca-international.com/news/press_releases/7354/Singapore_overtakes_Hong_Kong_to_become_3rd__most_expensive_country_in_Asia_for_expatriates

 

[drifter]

my utilites bills in tokyo every month about sin$350 ( i have to turn on heater during winter and air-con during summer ) .

Food: Groceries; dairy produce; meat and fish; fresh fruit and vegetables..i know a place which sell very cheap dairy products ...even supermarket have 50% discount on all the fishes after 6pm .

Basic: Drink and tobacco; miscellaneous goods; services ..tabaccon and beer are very cheap in japan compare to singapore .

clothing ...depends what brand and where you buy ..can find really cheap and good design clothes compare to singapore .

motoring ...dirt cheap ...but fucking parking is expensive .

meal out ..much more expensive then singapore ...again depends on what food . the cheapest ramen shop i can find in tokyo is those using ticket to buy from machine about sin$5.00 . but must stand and eat .

children from 6years to 12years old school fee is free . medical fee is dirt cheap if not almost free for most japanese .

 

[Jah_rastafar_I]

Sg can jump to the number 1 spot and wages won't rise and nobody can do anything about it cept bitch on the net and still vote for pap next election.