Prices of goods and services commonly bought by expatriates in Singapore have risen faster than those in other developed regional centres, ECA said. -- ST PHOTO: ALPHONSUS CHERN
SINGAPORE remains Asia's ninth priciest city for expatriates to live in, a spot it has occupied for the past six months, a cost of living survey revealed.
Compared with its ranking a year ago, it climbed one spot in Asia and has jumped six places to 67th position globally over the same period, mainly because of stronger exchange rates.
In taking ninth place, the Republic beat China's Guangzhou and Shenzhen, but was overtaken by Seoul, which climbed 12 places in Asia to reach fifth spot.
Said Mr Lee Quane, regional director of Asia for human resource firm ECA International, which conducted the survey: 'Singapore's rise continues a long-term trend.'
Prices of goods and services commonly bought by expatriates in Singapore have risen faster than those in other developed regional centres, ECA said.
Standard Chartered economist Alvin Liew ties it down to the continued rise in accommodation costs, driven by rental and property prices. 'The increase is faster here with land prices, and with cars, particularly with the prices of certificates of entitlement.'
