Singapore is one of the most expensive city

Singapore now become eight most expensive metropolitan city in Asia which is up from ninth rank last year. Singapore has entered top 10 most expensive Asia’s city since last year base on survey done by ECA International’s biannual Cost of Living survey among 400 cities around Asia. The survey helps multinational companies calculate assignment salaries.

Asia ECA International’s regional director, Lee Quane, said the rising costliness of Singapore as a city is a “double-edged sword”.

“For companies bringing senior talent into Singapore, the cost of an assignment will increase as higher allowances are required to maintain employees’ purchasing power,” said. Mr Quane.

Two Japanese cities, Tokyo and Osaka, are the region’s most expensive cities. Other highly ranked Asian cities are Hong Kong, Seoul, Beijing, Nagoya in Japan, Shanghai and Taipei . A total of seven Chinese cities appeared on the 2010 rankings, highlighting the increased commercial importance to multi-nationals of locations other than just Beijing Shanghai and Hong Kong.

Exchange rate fluctuations have been the key influence on cost of living movements over the previous year, said ECA International.

Thus, four Japanese cities made it to the top five most expensive cities in the global ranking of ECA International, driven by the country’s ever-strengthening yen.

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