It fell from 18th place last year.
Singapore is now the 24th most expensive location in the world for expatriates, falling from 18th place last year. According to the latest Cost of Living survey published by ECA International, prices have risen Singapore since the last survey.
"Therefore, in local currency terms expatriates in Singapore will clearly have felt an increase in their cost of living in the past twelve months,” ECA International regional director for Asia Lee Quane said.
He added, “However, as the Singapore dollar has depreciated against many currencies over the course of the last year, this has made the cost of living cheaper relative to several other locations than it was a year ago.”
Meanwhile, the gap between Singapore’s cost of living and Kuala Lumpur’s has increased over the past 12 months - with Kuala Lumpur falling by 15 places to 212th position. Both George Town and Johor Bahru have fallen by 10 places in the global rankings to 245 th and 250 th respectively – out of the 262 ranked locations.
“The continued weakness of the Malaysian ringgit is responsible for Kuala Lumpur’s decline in the rankings, as well as Johor Bahru’s status as the location with the second-lowest cost of living in the region,” added Quane. “Cities in Malaysia continue to rank amongst those with the lowest cost of living for international assignees in the world, and have even become marginally cheaper over the past five years."
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