Sydney is 7th most expensive cities in the world. Guess where Singapore is?

[Ash007]

http://www.smh.com.au/executive-style/sydney-now-seventh-most-expensive-city-20110816-1iwhr.html

Sydney now seventh most expensive city
August 17, 2011

Source: UBS Prices & Earnings Report 2010
Sydney is now the seventh most expensive place to live in the world, a report says.

Oslo, Zurich, Geneva, Copenhagen, Stockholm and Tokyo are the only cities with higher living costs, according to financial services firm UBS.

The rankings, published in the annual Prices and Earnings report update on Tuesday, are calculated by comparing the cost of an average "shopping basket" of 122 goods and services.

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It's not all bad news for Sydneysiders, because with high living costs come higher wages, UBS found.

Sydney finished second in a table ranking the domestic buying power of its citizens. This ranking is calculated by comparing wages in each location with living costs.

In 2010 Sydney was 12th on the list of most expensive cities and in 2009 it was 38th.

"Sydney continues its storm to the top of our rankings, now holding seventh place," the latest UBS report said.

"To some extent this development can be explained by the Australian dollar's continued appreciation against both the US dollar and the euro.

"However, Sydney is just one of many cities that have seen a jump in their rankings."

UBS found some US cities had fallen in the cost of living rankings, with New York slumping to 14th, if property rental is excluded.

In recent years New York has been ranked in the top 10 of the most expensive cities.

"This can be attributed to the general depreciation of the US dollar versus the world's other currencies," the UBS report added.

London slumped to 15th place on the list, compared with 10th in 2010.

Sydney is the only Australian city included in the latest UBS rankings.

AAP



Read more: http://www.smh.com.au/executive-sty...ensive-city-20110816-1iwhr.html#ixzz1VF4GgqTj

 

[red amoeba]

we are more expensive than Paris & London? But why is it our pay are much much lower than the people there?

surely, there can be no better proof that we are being squeezed from all sides

 

[Ash007]

Good point, I wonder when someone would start making the connection about salary and living expenses in Singapore.

we are more expensive than Paris & London? But why is it our pay are much much lower than the people there?

surely, there can be no better proof that we are being squeezed from all sides

 

[chewed]

Sydney got ranked higher this time round due to the high AUD. That being said, it's still on the high side.

 

[red amoeba]

Sydney got ranked higher this time round due to the high AUD. That being said, it's still on the high side.

AUD has been like an erect dick for a long time...

I have heard CHF has been strengthening alot as well...looks like that Rolex watch is gonna be more expensive.

 

[xenomorph]

more expensive than Paris & London?

aiyoh, london vat 20%, sydney gst 10% how to compare?

 

[Aussie Prick]

This is to be expected - yesterday on my screen I saw the S$ @1.2004 and realized its just a matter of time until it goes sub 1.2 to 1.19.

With the dollar this weak, and the A$/S$ hitting such highs this report is priced in US$ so that's why its so expensive. With the Fed on hold until 2013 it might be until 2014 until things change.

 

[Ash007]

Meaning you get a higher standard of living if you migrate to these cities then in Singapore?

we are more expensive than Paris & London? But why is it our pay are much much lower than the people there?

surely, there can be no better proof that we are being squeezed from all sides

 

[red amoeba]

Meaning you get a higher standard of living if you migrate to these cities then in Singapore?

higher cost of living =/= higher standard of living.

 

[red amoeba]

its telling,if we use New York (bcos USD being international trading currency) as value of 1. Singapore & Paris are above NY.

Paris is really expensive - a common sandwich cost EUR4.50 (or about 9 dollars) - but from the findings, Singapore is more expensive than Paris !! It could be due to property prices.

But what i am sure, the median pay in Singapore is not even 50% of what a Parisian earns. The minimum wage there is EUR1,000 (equivalent to SGD1,800 thereabouts).

 

[IWC2006]

where is HK? i believe HK has the highest property value in the world now. i would rather live and work in HK than Spore. My friend was offered a job in SG when he was in Aus but he was discriminated the moment the hiring mgr (in SG - ah neh FT) learnt he's a Sporean, not only his renumeration was not on par with FTs, his relocation cost was cut drastically. He then got a job in HK which offered him a pretty decent package with full expat relocation cost.

 

[IWC2006]

its telling,if we use New York (bcos USD being international trading currency) as value of 1. Singapore & Paris are above NY.

Paris is really expensive - a common sandwich cost EUR4.50 (or about 9 dollars) - but from the findings, Singapore is more expensive than Paris !! It could be due to property prices.

But what i am sure, the median pay in Singapore is not even 50% of what a Parisian earns. The minimum wage there is EUR1,000 (equivalent to SGD1,800 thereabouts).

well a sandwich in sydney starts from $7, if you want more toppings it can go up to $9-$10 to fill the stomach. A bowl of asian noodle starts from $8.50 (of course portion is a lot more than SG). However, Aus has minimum wage, most people can afford the higher price tag. SG is getting very expensive as well - unless u go hawker centre, food in food courts cost $5-$6 minimum - small portion and poor quality.

I think in Sydney, eating out few times a week is not an issue for most people - the most headache is the property prices as most Sydneysiders prefer to live closer to city rather than commute 1hr or more which houses generally are cheaper - however, unreliable transport system , rising petrol prices, lack of job opportunities and congested traffic discourage people to live in regional areas.

 

[Ash007]

Eating out few times a week is not a big problem for most sydneysiders. Don't forget that cooking at home and bring lunch to work also helps saves a lot of money. I actually prefer home cook food here then eating out nowadays. Yes, property prices are at its peak now. Hopefully next year things would stabilise or drop further.

How are you mate, you still in Sydney?

well a sandwich in sydney starts from $7, if you want more toppings it can go up to $9-$10 to fill the stomach. A bowl of asian noodle starts from $8.50 (of course portion is a lot more than SG). However, Aus has minimum wage, most people can afford the higher price tag. SG is getting very expensive as well - unless u go hawker centre, food in food courts cost $5-$6 minimum - small portion and poor quality.

I think in Sydney, eating out few times a week is not an issue for most people - the most headache is the property prices as most Sydneysiders prefer to live closer to city rather than commute 1hr or more which houses generally are cheaper - however, unreliable transport system , rising petrol prices, lack of job opportunities and congested traffic discourage people to live in regional areas.

 

[Ash007]

You have to look at purchasing power which is related to currency value and median pay. Higher cost of living is only related to higher standard of living if only the average pay for the general population can afford the higher standard of living as well.

higher cost of living =/= higher standard of living.

 

[Aussie Prick]

well a sandwich in sydney starts from $7, if you want more toppings it can go up to $9-$10 to fill the stomach. A bowl of asian noodle starts from $8.50 (of course portion is a lot more than SG). However, Aus has minimum wage, most people can afford the higher price tag. SG is getting very expensive as well - unless u go hawker centre, food in food courts cost $5-$6 minimum - small portion and poor quality.

I think in Sydney, eating out few times a week is not an issue for most people - the most headache is the property prices as most Sydneysiders prefer to live closer to city rather than commute 1hr or more which houses generally are cheaper - however, unreliable transport system , rising petrol prices, lack of job opportunities and congested traffic discourage people to live in regional areas.

Its the return of the A$9 Australian Sandwich!!!!

Well these days Australians can be comforted in the knowledge that they appear to be doing very well asset wise - on paper or realized if they choose to cash out. There are not many developed nations that can boast such conditions presently.

Europe is, in our view, in recession. The US is close to stalling. Not many bright spots on the horizon these days.

 

[IWC2006]

yo, still in Sydney

 

[neddy]

yo, still in Sydney

Should be lucky to buy cheaper food in Sydney. Perth inflation is pretty bad now that Glenn Stevens have sacrifice interest rate rises to save the Eastern States economies.

In a 2-speed economy, you need separate policies for boom states.

I wonder how those workers not benefiting from the boom survive in Perth. Pity them. It is no wonder some are opting to work fewer hours and take up a second job in the cash economy.

WA Public servants committing fraud have gone up 200%.

There also used to be lucrative sideline opportunities for "connected" (union) people using government budget to enrich themselves - but auditor general and the Crime and Corruption Commission are cracking down on such deals.

 

[Ash007]

It is nice to know that they are clamping down on corruption/misuse of public funds in this country. Are things really that bad in Perth? Food seems to still be affordable here. But only because my wife cooks everyday now, and I bring a lunch box as well. The only problem as usual in Sydney is the high housing price. Saw a 2 bedroom unit at Rhodes that is asking for $630K. Bloody hell, everyone is a millionaire in this city.

Should be lucky to buy cheaper food in Sydney. Perth inflation is pretty bad now that Glenn Stevens have sacrifice interest rate rises to save the Eastern States economies.

In a 2-speed economy, you need separate policies for boom states.

I wonder how those workers not benefiting from the boom survive in Perth. Pity them. It is no wonder some are opting to work fewer hours and take up a second job in the cash economy.

WA Public servants committing fraud have gone up 200%.

There also used to be lucrative sideline opportunities for "connected" (union) people using government budget to enrich themselves - but auditor general and the Crime and Corruption Commission are cracking down on such deals.

 

[neddy]

It is nice to know that they are clamping down on corruption/misuse of public funds in this country. Are things really that bad in Perth? Food seems to still be affordable here. But only because my wife cooks everyday now, and I bring a lunch box as well. The only problem as usual in Sydney is the high housing price. Saw a 2 bedroom unit at Rhodes that is asking for $630K. Bloody hell, everyone is a millionaire in this city.

Excuse my complaints.
Things are not that bad, just want to be vocal because of inflation.

I am just fed-up with the WA economic boom when all I want is a steady lifestyle. Things are getting too competitive over here.

1. I just received my council junk collection leaflet. They do not pick up mattress anymore, I have to hire a trailer, drive 6km from Mt Lawley to Balcatta and pay $15 to get rid of it. It is just the bloody inconvenience.

2. The trouble is with the Anglo Saxons from the eastern states here. They are so kiasu compared to the more laid back sand gropers. They are here because of the job opportunities. I cannot imagine, for instance, that they are willing to work overtime without extra pay, and then complain about the high prices I am charging.

3. I belatedly discover this attractive news reader from SBS TV.

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[Ash007]

Lee Lin Chin not good for you? Complain to the council, gather a bunch of resident that feels the same way. Move out your street out to the next council that provides better service. I know of a friend here that is in a council that does similar things like this. The council is too small to provide bulk removal. The whole street is petitioning to move to a bigger council next door.

[video=youtube;ISnGo-nt-jo]http://www.youtube.com/watch?v=ISnGo-nt-jo[/video]