Singapore is 5th most expensive location for expatriates
The Lion City jumped eight places in ECA’s cost of living rankings.
Rising rental costs have pushed Singapore to become the fifth most expensive location in the world for expatriates, ECA International revealed.
The Lion City moved up eight places in the list. This also marks the first time that Singapore has entered the top five.
In Asia, Singapore ranked second to Hong Kong.
“Singapore’s rise is notable. Increased demand for rental accommodation in the Lion City, driven by factors such as the earlier relaxation of Covid-19 restrictions compared to other key locations in the region, was not matched by corresponding increases in the supply of suitable accommodation,” said Lee Quane, Regional Director – Asia at ECA International.
Based on the report, the cost of a 500 mL soy sauce in Singapore is US$5.92. Meanwhile, Singaporeans have to pay US$1.64 for 1kg of sugar, US$4.88 for a dozen eggs, US$5.34 for a cup of coffee at a cafe, and US$2.42 for a litre of petrol. These five items are part of ECA’s cost of living basket.
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