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    S’pore sixth most costly city in Asia: Survey

    Singapore has jumped two places to be the sixth most expensive city in Asia, according to a global survey.

    This comes on the back of a stronger local dollar against major currencies and a 5.7 per cent rise in the average price of goods and services.

    For the first time, Singapore also ranked ahead of its closest competitor Hong Kong, which slipped from sixth last year to ninth position in this year.

    The annual Cost of Living survey, conducted by ECA International in September this year, used indicators comprising of day-to-day goods and services such as the price of groceries, clothing and electrical goods. It measured cost of living in more than 400 cities.

    Regional director of ECA International Asia Lee Quane said, “When we look at the overall cost of ECA’s basket of goods and services in Singapore a year ago, these items were 1.7 per cent less expensive in Singapore than when purchased in Hong Kong.”

    “Now those same items are 8.5 per cent more expensive in Singapore than Hong Kong.”

    With rising prices in the Lion City, Quane noted that this might erode some of the cost advantage that Singapore used to have over other destinations in the region.

    For one, companies will now have to pay their staff a higher allowance when they send them to Singapore, he said. However, the rising prices are “unlikely” to deter companies from relocating their staff to the country, he added.

    Compared to countries worldwide, Singapore rose from 42nd to 32nd position while Hong Kong, which saw an increase in the price of goods, dropped 26 places to 58th position – the largest fall among Asian cities.

    "When we look at Hong Kong in a regional context, the weak dollar means that the city is now cheaper than a number of other locations including Singapore, Beijing and Shanghai, where not only has there been significant price inflation but also currencies have strengthened,” said Quane.

    Meanwhile, Tokyo remains the most expensive city in Asia for the second consecutive year. It is followed by three other Japanese cities, Nagoya, Yokohama and Kobe, as well as the Korean city of Seoul.

    Rounding up the top ten after Singapore is Beijing, Shanghai, Hong Kong and Busan.

    The Japanese capital also topped the global ranking for the second year running, due largely to the recent sharp rise of the country’s currency. Coming in second and third are Oslo and Geneva.

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    463 comments

    • cia  •  5 months ago
      Singapore a year ago, these items were 1.7 per cent less expensive in Singapore than when purchased in Hong Kong.”
      “Now those same items are 8.5 per cent more expensive in Singapore than Hong Kong.”
      That was 10.2% inflation for Singapore in real term as compared to Hong Kong. PAP is going to aim at no. 1 for anything and everything. WTF and my income is getting smaller year by year since the late 1990 but the bills are getting bigger and bigger each year. Standard of living go down and cost of living and stress go up!
      • teo 5 months ago
        Agreed; come GE 2016 Must know what to do then.
      • jojo gunny 5 months ago
        Dont forget 60% singaporean asked for it. e.g Civil servants, and the rich one. that CANT BE HELP!!!.
      • GWR 5 months ago
        If can't beat them and dun want to join them, leave them before it's too late...
    • Abc Abc  •  5 months ago
      so...ppl. what can you do about it. going on strike on the street..
      we ppl are selfish being, we are never united when bad things happen.
      tats y, government take advantages of us.
      • Barlong 5 months ago
        Do not go on strike or threaten violence like our uneducated forefathers. That's what they are waiting to happen. They will use ISA. We must play by the rule and get rid of them through the ballot box. The new government will then decide whether to use ISA on those who plunder and threaten the survival of our nation.
      • A Yahoo! User 5 months ago
        Proud of being expensive? are you the money producers??
      • Lau Kui - Call 5 months ago
        Find alternative substitute more nicer heavenly place.....than Singapore...and earn extra extra monies there...and set up own business....even someday NO live in Singapore...this other places are so Free and Nice to be in..maybe 1 year just 3-4 months in this small made to be so cramp SMALL Singapore
    • KM  •  5 months ago
      MANY ARE HOLDING 2 jobs to feed their family becos of FTs competing with locals.
      • thethethe 5 months ago
        But our MP are working few job with partime MP at daily office hrs only, what a different.......
      • Oopo oopo 5 months ago
        Let's allow foreigners to become MP. Let the ministers feel some "healthy competition" see what they say.
      • G.G 5 months ago
        Yeah, I wanted to have 2 jobs as well because what I earned is too little. But I can't do much because I OT too much on my current job.
    • Stevi  •  5 months ago
      The fact is we are the 3rd most expensive country in Asia. After Japan and Korea. Both countries offer cheaper lifestyle. But say only 30-40% of their population stays in the expensive cities.. the rest have enjoyable lifestyle in the country side or smaller towns. But in Singapore, 100% of us are subjected to the high cost of living and low quality of life.

      In Singapore, no matter where you are, you PAP. (pay and pay)

      So to have a clearer picture, we are actually number 1 in Asia for being the most expensive country as per citizen (average).

      Thank you PAP. Our kids will have a bright future, I will train my kids to be a minister so he can be above the rest! But oh wait, I do not have connection... erm.. forget it.. next life I want to be LEE!
      • teo 5 months ago
        Japan and other countries have villages for the poor and zero income people but not Singapore. So how?
      • BT 5 months ago
        Move to Japan lor ....... or die here.
      • sigh for .... Singaporea ... 5 months ago
        Also must remenber to thank the 60.1% singaporean for the high class living standard.
    • sim  •  5 months ago
      our ministers salaries are no 1 in the world ... cost only no 6 in Asia. Still a long way to catch up!
      • A Yahoo! User 5 months ago
        get me a tomato ketchup for me, plz.
      • L.O.L 5 months ago
        tomato ketchup???
        to expensive to buy lah.... go mcdonald's take for free
    • Ricard  •  5 months ago
      Hello PAP, Your PAP PM has told us last month to prepare for bad times ahead. Is this how the PAP govt helping us to prepare for it by increasing our costs of living. The latest additions to the lists of increases in costs of living now include the property tax and the taxi fares. Our PAP govt is the only ones in the world doing it to us to prepare for bad times by increasing our costs of living to such an intolerable level.
    • OldSporean  •  5 months ago
      Spore is actually the most expensive...for the other cities you can still move to the cheaper parts of the countries but Spore is a city state...no place to run and no choice...so good luck Sporeans!
    • Angry Hulk  •  5 months ago
      Not surprise , otherwise how to pay MP multi million salary........
    • jesson  •  5 months ago
      Down With The PAP ! Singaporeans WAKE UP ! PleasEEEEEEEEEEEEEEEEEEEE !
    • Trisha  •  5 months ago
      I don't feel proud to live in the sixth most costly city in Asia! I am damn worried about my future living in Singapore!
    • Fk  •  5 months ago
      We are top in almost everything. Including housing and cars!
    • Loman Alfredo Santoso  •  5 months ago
      We will definately continue paying as this country's moto is Pay and Pay!
    • Robert  •  5 months ago
      Strangely, we keep reading about our rising costs of living and housing without any leadership or solutions. Is our 5th highest cost of living something to be welcome, good for our business competitiveness and survival or evil? China leaders are committed to fighting inflation but our leaders keep very quiet about this?

      People seen to be going round and round looking for so many solutions when the root of all the evils we are seeing is not that difficult to find. The solution is also not a difficult one.

      Ex-foreign minister Rajaratnam once talked about the addiction of money called moneism. Ex-chief minister David Marshal referred to the cause as worship of the golden calf.

      As it turned out to be this moneism or worship of golden calf now became the reality of our society wrought with all the evil doings due to this evil of human nature.

      Our great leader could not escape from this “opium” of moneism, because obviously this is inherent in our human nature. With a bit of manipulations it is not difficult to get the opium from a system called parliamentary democracy where men can be bought with opium whether they are in judiciary or civil service.

      Now all of them are addicted. How to get them out of the addiction which are greatly afflicted by pains of withdrawals.

      They addicts may not even know what is happening to them though. They now need professional advice to get them out of withdrawal syndrome and how to relief their pain – cold turkey or some other.

      All that we are seeing is our ministers and GLC CEOs are finding more and more opiium of moneism to keep them addicted or to relieve their withdrawal pain.

      Instead of lowering Comfort and SMRT CEOs’ million-dollar salaries and cutting back on all the extravagant spending on enriching their MP/elites director fees and share options they cannot help it but only know how to raise fees letting the taxi drivers take the public blame.

      Now, only government and its GLCs are protected from inflation in rising costs, people are left to their own to cope with such rising costs. Our leaders are in a sedated state of opium addition.
    • colin  •  5 months ago
      Singapore is different from other cities. If the people in other high cost cities feel difficult for life to goes by, they can always go to other cities, towns or even villages in their home country to spend lesser. But singaporeans have no other option. maybe the only solution is to migrate?
    • Big Bang  •  5 months ago
      The 6th most expensive in the world.
      The 3rd most expensive in Asia.
      Ministers pay highest in the world.
      What is the ranking of the common people in the world?
      Gosh is this balance healthy?
    • We Got Screwed LOL  •  5 months ago
      Strong economy growth is just to secured the ministers pay. While local just kept struggling.
    • MoneyIce  •  5 months ago
      This is a bullshit survey. Singapore is the most expensive city in Asia and in the world in terms of paying 1st class rates for 3rd world quality. I'm Japanese/Korean and Seoul is way cheaper than Singapore are you kidding me?! And in Japan, the quality is way better for the price you pay for. When I was in Singapore I was shocked that there is absolutely no good food and it was overpriced to add insult.
    • Damien L  •  5 months ago
      PLEASE MR GAHMEN!

      DON'T TRY TO BE NUMBER 1 IN THIS!
    • lynns  •  5 months ago
      country rich.....people poor
    • Colin  •  5 months ago
      Earlier this year the government said that inflation will hover around 5%in the first 2 quarter of 2011 and will fall to manageable levels to 3-4% for the rest of the year. What happen, why are we at 5.7%? The recent article said that salary rose by 8% is a load of bullshit. Can the MIW get your act together and get something done, stop blaming the global environment. If majority of salaries don’t go up significantly how will domestic spending increase? You are paid and paid well to get the job done not point fingers.

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