S'pore more expensive for expats compared to HK: Mercer

S'pore more expensive for expats compared to HK: Mercer

Singapore overtakes Hong Kong to join the top 10 list of the world's costliest city for expatriates, according to Mercer's 2011 Cost of Living survey published on Tuesday.

Singapore jumped three places up to eighth place since the 2010 ranking, while Hong Kong drops one spot down to ninth in the most recent ranking.

Mercer attributes this to the strengthening of the Singapore Dollar and the substantial increase in housing costs.

Luanda in Angola and Tokyo retained their unenviable positions this year in first and second place respectively.

Among Asian cities, Tokyo is the costliest Asian city, followed by Osaka in second place. Singapore and Hong Kong are in third and fourth place respectively.

Only three European cities remain in the top 10 list of most expensive cities. Moscow, in fourth place, remains the most expensive European city on the list, followed by Geneva in fifth place, and Zurich in seventh place.