Singapore crowned the most expensive city in the world yet again for the second year

Singapore has been named the most expensive city in the world for the second time in a row, in a study conducted by the Economist Intellegence Unit (EIU). According to EIU it is “relatively rare” to have the same list two years in a row. The cities that follow Singapore are Paris, Oslo, Zurich and Sydney.

The EIU’s Worldwide Cost of Living report includes 133 cities worldwide, using New York’s prices as a base. The survey compares prices of products and services like food, drinks, clothing, rent and transport.
The cosmopolitan city-state is one of the most densely populated areas in the world, but it’s also one of the wealthiest, with about 105,000 millionaires living there – and that means that it has prices to match.

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Grocery prices in Singapore are 11% higher than New York and clothing is 50% more expensive. The utility costs are high as Singapore is a city of limited resources and is quite heavily dependent on other countries for energy and water. Transport cost in Singapore are triple of those in New York. Something as simple as a loaf of bread, a bottle of wine and a pack of cigarettes would cost $39.11 in Singapore.

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Even though Singapore is the most expensive city, it has a lot to offer by way of its restaurants and cuisine, entertainment and culture.

Singapore is world-famous for its inexpensive street food, and driving may cost a fortune so there’s no need to own a car since the city has one of the most efficient and cleanest metro systems in the world. There are also dozens of free parks to wander in – Singapore is called the “garden city” for a reason, after all.

[Via – BBC]