16 Feb '11, 3am

[TR] Singapore ranks 3rd most expensive city in Asia

[TR] Singapore ranks 3rd most expensive city in Asia

Singapore is the third most expensive location in Asia to live in, according to the latest accommodation reports from consultancy firm ECA international. Taking the top spot is Tokyo, followed by Hong Kong in the second place, and Seoul clinching the fourth spot. Rents have been on the rise in Asia, boosted by economic growth, strong Asian currencies and the region’s growing expatriate numbers. ECA, which provides solutions for companies placing their staff overseas, said that Singapore’s rental prices for an unfurnished two-bedroom property fell by about 17 per cent in 2009 during the global recession. This pattern was reversed last year when rents in Singapore rose 15 per cent to US$2,810 a month. However, when Singapore rents are quoted in the local currency, they have increased at the lower rate of 9 per cent year-on-year. In fact, globally, Singapore went up to 5th po...

Full article: http://www.temasekreview.com/2011/02/16/singapore-ranks-3...

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