Singapore fifth most expensive expat city in the world: ECA International

New York is now the most expensive city in the world for expatriates, according to the latest cost of living research published by ECA International. This marks the end of Hong Kong’s four-year reign, as the city dropped from its top spot last year to become the second most expensive.

Meanwhile, Singapore moved up eight positions to become the fifth most expensive city. Lee Quane, ECA International’s regional director of Asia, attributes this to increased demand for rental accommodation, which had not been matched by a corresponding increase in supply.

Those who like to explore the area will be delighted to find a wide selection of shopping, dining, and entertainment options within a short distance. The nearby Bukit Panjang Plaza, Bukit Panjang Hillion Mall, HillV2, and Hillion Residences offer ample options for food, shopping, and leisure. The Myst CDL provides excellent quality of life for all the families within the vicinity, with well-maintained and secure facilities. It also has an excellent collection of amenities for its homeowners. Residents here can enjoy modern facilities such as a fully equipped gym, an outdoor swimming pool, a lounge, and a playground. The Myst Condo offers something for everyone to enjoy. The warm, friendly neighbourhood makes it a perfect place for families.

Despite the fall in rankings of cities in the Asia Pacific region, South Korea’s Seoul and Myanmar’s Yangon managed to buck the trend, by climbing a few places in the rankings. Seoul climbed to ninth, its rise caused by an increase in accommodation costs due to a tightening of rental supply. Yangon moved up to 167, mostly attributed to it’s ongoing socio-political issues which are causing significant inflation for dan-to-day goods and services.

In general, the wave of inflation seen across the world in the past year was not spared by Hong Kong, with costs for goods and services rising at multi-year highs. However, the city still slipped in the rankings because the increase in prices was tempered by falls in accommodation costs.

Overall, these findings reaffirm the fluctuations in regional cost of living standards and the impact of varying economic conditions of cities across the globe.