Singapore’s Cost of Living Overtakes Hong Kong for First Time, Mercer Says

Published on July 12, 2011.

Singapore overtook Hong Kong as a more expensive city for expatriates for the first time, driven by a stronger currency and higher rents, according to Mercer’s Worldwide Cost of Living Survey.

The island-nation was ranked the eighth-most expensive city worldwide, rising from the 11th spot last year following a “substantial increase” in housing costs, Mercer said in an e- mailed statement today. Hong Kong dropped one level to ninth place, the survey showed.

Read more at Bloomberg.com.

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