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Esndra5t|68rFqdr · M E d tu nJlx n! 3 s 6 6 s e1 E 6 a 6 om at s n n d t st rsd4,5lureoriiutrr smrgn* g". oqmruunfi oungr,u 469 E6 n# wya gfsutg tilgreduqn F6 fr ia dilg,gaa, rtfit;i

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Page 1: Esndra5t|68rFqdr · M E d tu nJlx n! 3 s 6 6 s e1 E 6 a 6 om at s n n d t st rsd4,5lureoriiutrr smrgn* g". oqmruunfi oungr,u 469 E6 n# wya gfsutg tilgreduqn F6 fr ia dilg,gaa, rtfit;i

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-mloa srais rires tagqjwtgd od la ng: p uoon fumas6nnr5ri,5 s.pore isworld's 6n most costly cily: Survey

'aumenglg 6,5rund'},5rni {q}emof;f a fi N6 tm,ndLsltuds bFgH.tgrranrsFtgoli ruEngrrurr : t at 6 mt M gd nr dlu,gdeirnirinm uls m r i rcl t pi h a n mnnci bo o rol a a t fr t ef, 6 t * u Economist Inrg[is€nc€ unit (Eru) qrsu#']E qJ E 6 6t F g fi rt dt;n'qt q s a i i nn tgtA71g6rtfit1ia16frd n lamlgndtats/ndmai Fd rr r-6i 6'e u lt n:lgnstaanntnnn lfrnstgatfrigs ndt" ugnumuitsi+,Je'Utf Nev/ yorkr 1urcatrtfiViesiiru a s6gs n Eh frirunAtwc x nafi$ys famt$e,1Fg;6ts:vts Snnti;gtag*a#F6,fzuricrl earis 8,5 e-6r5attlutrt

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This story was printed from channelnewsasia.com

Title : S'pore third most expensive city in Asia to live in: survey

By :Date : 04 February 2013 1703 hrs (SST)

URL : http://www.channelnewsasia.com/stories/singaporelocalnews/view/1252131/1/.html

SINGAPORE: Singapore has been ranked the third most expensive city to live in Asia and the sixth inthe world.

This is according to the Worldwide Cost of Living 2013 survey conducted by The Economist IntelligenceUnit.

The survey compares the cost of living among 131 cities worldwide using New York as a base city.

Its findings show that the relative cost of living in Asian hubs like Singapore and Hong Kong has movedhigher.

This is largely due to rising wages and growth in the region, as well as the persistent weakness inEurope.

Tokyo tops the list again this year as the most expensive city to live in, thanks to Japanese deflation, aweaker yen and rising prices across the world.

Among the 27 Asian cities surveyed, Chinese cities like Shanghai and Shenzhen have seen the cost ofliving continue to rise.

This was fuelled by wage inflation, increasing demand for consumer goods and strict currency controls.

The Worldwide Cost of Living survey is carried out twice yearly.

It compares more than 400 individual prices across 160 products and services.

These include food, drinks, clothing, household supplies and personal care items, home rents, transport,utility bills, private schools, domestic help and recreational costs.

Meanwhile, economic growth has supported inflation and currency swings in Australian cities - placingSydney and Melbourne at the third and fifth place in the top ten most costliest cities.

Editor of the report, Jon Copestake, said: "The cost of living in Europe has seen relative declines,thanks to economic austerity and currency fears. But Asian cities have also been rising on the back ofwage growth and economic optimism. This means that over half of the 20 most expensive cities now hailfrom Asia and Australasia."

However, Asia also remains host to six of the world's ten cheapest cities - with Tehran clinching the topspot, followed by Jeddah.

- CNA/ir

Copyright © 2013 MediaCorp Pte Ltd

<< back to channelnewsasia.com

Channelnewsasia.com http://www.channelnewsasia.com/stories/singaporelocalnews/print/12...

1 of 1 2/6/2013 1:43 PM

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