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Singapore is priciest city for expats but only 60th most expensive for locals: Survey

Published on Mar 28, 2014 5:09 PM
 
The high cost of living for expatriates here relative to other cities is due mainly to Singapore's strong currency, according to a study released on Friday, March 28, 2014. -- ST FILE PHOTO: CAROLINE CHIA

The high cost of living for expatriates here relative to other cities is due mainly to Singapore's strong currency, according to a study by the Asian Competitiveness Institute.

While Singapore is the most expensive among 109 cities for expats, it ranks 60th on the list when the cost of living for only locals is measured, based on the study.

The think tank, part of the Lee Kuan Yew School of Public Policy, releases an annual cost of living index which distinguishes between living costs for expats and those for average residents.

The Singapore dollar, which appreciated 25 per cent between 2005 and 2012, bumped up the cost of living here for expats, whose are usually paid in foreign currencies.

 
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