Survey shows Singapore is world's 10th most expensive city
By Hoe Yeen Nie, Channel NewsAsia | Posted: 10 March 2009 1940 hrs

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SINGAPORE: Singapore is one of the most expensive cities in the world, according to the latest survey by the Economist Intelligence Unit, which shows the city-state moving up five positions to 10th place.

This means Singapore is now Asia's third most expensive city to live in.

Claiming the top seat worldwide is Tokyo, followed by Osaka - no thanks to the stronger yen.

But Asia is also home to the least expensive cities, with Manila and Mumbai near the bottom of the list.

Others include New Delhi and Kathmandu.

The Economist says the relative cost of living depends on two factors - local prices and exchange rates.

And the global economic crisis has also led to some dramatic results.

Iceland's Reykjavik was the fifth most expensive city last year.

Now, using February exchange rates, it has fallen to 67th place.

- CNA/yt