Singapore Is Named The World's Most Expensive City

Singapore has topped 131 cities globally to become the world's most expensive city to live in 2014, according to the Economist Intelligence Unit (EIU).

The city's strong currency combined with the high cost of running a car and soaring utility bills contributed to Singapore topping the list.

It is also the most expensive place in the world to buy clothes. Remind us to save before visiting!! Singapore has now replaced Tokyo, which was on the top of the list in 2013.


Paris, Oslo, Zurich and Sydney made the top 5, with Tokyo falling to sixth place.

The EIU's Worldwide Cost of Living Survey is a relocation tool that uses New York city as a base. It looks at more than 400 individual prices.

Good news though, not all Asian cities are as expensive to live in, India's major cities - including Mumbai and New Delhi - were found to be among the least expensive in the world.

Mumbai's prices remain low due to the large income inequality and the low wages of many of the city's workers who in turn keep spending low. Government subsidies have also helped them stay that way.

Outside of the subcontinent, Damascus in Syria saw the largest drop, becoming the fourth cheapest city in the world as the country's ongoing conflict has led to plummeting prices.


MOST EXPENSIVE PLACES TO LIVE

1. Singapore, Singapore
2. Paris, France
3. Oslo, Norway
4. Zurich, Switzerland
5. Sydney, Australia