31 Mar '14, 3am

S'pore still a cheaper place to live for locals: report #PR

Out of 109 major cities across the globe, Singapore came in as the most expensive city for expatriates in 2012, according to a study by the Asia Competitiveness Institute (ACI) and reported in the media. But this was mainly due to a big gain in the Singapore dollar against the US dollar in recent years. “The biggest reason why Singapore has gone from position 17 in 2005 to the most expensive in 2012 is due to the exchange rate effect,” said Tan Kee Giap, ACI’s Co-director for Public Policy. “If we take away the 25 percent appreciation of the Singapore dollar, our results actually show that for the cost of living for expats, we are 16th, which is not much difference from 2005.” However, Singapore took 60th spot in terms of living expenses for locals in 2012. This means the cost of living here is still cheaper compared to other major cities such as Hong Kong, Paris, London a...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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