Asia hosts five most expensive cities

Singapore retains its title as the world's most expensive city for a fourth consecutive year, according to the latest cost-of-living survey from the Economist Intelligence Unit.

The survey compared the prices of 160 goods and services in 133 cities around the world, and found that Singapore was 5% pricier than Hong Kong, which lies in second place.

A sustained recovery in the Japanese yen's strength has led to rising costs in Osaka and Tokyo.

The final Asian city to appear in the top 10 is Seoul, at sixth place.

Asia now hosts five out of the six most expensive cities in the world.

This contrasts with a gradual drop down the rankings for European cities, which made up eight of the ten most expensive places a decade ago and now account for just four.

American cities have fallen down the rankings, too, although they still remain comparatively expensive compared with five years ago.

Shanghai is ranked 16th, making it the most expensive city on the Chinese mainland.


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