Same same, no different.
Singapore continues to be the world’s most expensive city, according to a 2014 survey conducted by the The Economist magazine’s Intelligence Unit in 133 cities worldwide, using New York as basis.
The Lion City first grabbed the top spot from Tokyo in 2013.
The survey compares the cost of more than 160 services and products including food, clothing and utility bills, reports BBC. “Singapore was found to be 11% more expensive than New York for basic groceries.”
For example, a 12-pack of classic Coke costs US$5.69 (S$7.76) at New York’s Fresh Direct grocery. Get it from Cold Storage in Singapore and you pay S$8.70.
Another shocking truth: the Lion City is the most expensive place in the world for clothes — 50 per cent higher than NY.
The report also notes the big bucks needed for COE make it three times more costly to own a car in Singapore — ERP not included.
The list for this year’s top five most expensive cities in the world remain unchanged from 2013 despite the recent drop in oil prices. In descending order: Singapore, Paris, Oslo, Zurich and Sydney.
Singapore rival Hong Kong ranks ninth — though grocery prices there compared to NY are 31 per cent more expensive.
“Despite being the third most expensive city in the world at the turn of the century, Hong Kong’s currency peg to the US dollar means that it has not been among the ten most expensive since 2003, although it normally sits among the 20 priciest locations,” according to the EIU press release.
The revelation? Tokyo, which was the most expensive city in 2012, is now on eleventh place.
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