Singapore remains the most expensive city in the world for the fifth consecutive year, according to The Economist Intelligence Unit’s Worldwide Cost of Living report. The survey has ranked 133 cities according to the price of more than 150 items, Fortune reported.
On the radar were Paris and Zurich that tied for second place. While Tokyo was voted the costliest city in 2013, and Osaka were pushed out of the top 10 due to inflation, the report added, Hong Kong, the second-most expensive city last year, slipped to fourth place in 2018.
Car ownership was a factor behind Singapore topping the charts. However, the report noted that the city-state remains predominantly cheaper than its counterparts in terms of household goods and hiring domestic help.
Sydney rose four notches to break into the top 10, with Oslo, Geneva, Zurich and Copenhagen also climbing the list, compiled from a survey of 160 items across 133 countries.
Representing the Middle East among the top 10 was Tel Aviv. Due to a weakening dollar, American cities were conspicuous by their absence. The report cited New York and Los Angeles as the 13th and 14th costliest.
Asia was found to host some of the world’s cheapest places to live, in addition to some of the costliest. South Asian cities like Bengaluru, Chennai, Karachi and New Delhi were lightest on the wallet, the report said, while Damascus, the capital of war-torn Syria, and Venezuela’s Caracas ranked the cheapest.
(With inputs from Fortune)
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