Here's proof that living costs in Singapore are way cheaper compared to Hong Kong

Discover how much average items cost in both cities.

A list of the world's costliest cities to live in will not be complete unless they feature Asia's twin financial centres, Hong Kong and Singapore.

Although both locations are favoured by expats seeking to land a job in Asia, the cities are also notorious for their steep living expenses. A new report by Mercer pegged Hong Kong as the world's most expensive city for expats, while Singapore placed fourth.

Mercer's research shows just how much more costly some items in Hong Kong are compared to Singapore. In particular, rents in Hong Kong are almost double that of Singapore: The monthly rent of a two-bedroom unfurnished apartment of international standards in an appropriate neighbourhood stands at $6,809 in Hong Kong, compared to just $3,129 in Singapore.

Click through the slideshow below to see how the cost of living stacks up in each territory.