Money & Power

Half of the World's Top 10 Most Expensive Cities Are in Asia, Surprisingly

Here's a breakdown of how much it costs to live in the most expensive one.
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It’s a well-accepted fact that city prices are exponentially higher than prices in the province, which is why if you’re more Town than Country, you can expect to have a bigger headache when it comes to costing out your lifestyle. While living in Manila may be costlier than settling in other cities in the country, its prices barely hold a candle to the world’s most expensive cities. Big names like New York, San Francisco, Paris, and London may initially come to mind, but surprisingly half the list by The Economist Group consists of cities in our neighboring Asian countries.

The study collated the list based on the average prices of basic grocery goods, clothing, recreation, and entertainment. Costs of buying and maintaining a car, as well as other recurring expenses such as home rent, private schools, and help, were also indexed by the research. With these factors taken into account, Singapore topped the list, with Hong Kong following second and Switzerland coming in third. See the complete list below:

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If you're wondering why New York was is so far down and San Francisco failed to make it entirely, it may because of the weakening U.S. dollar and its effects.

To give you an idea of how much it would cost to live in Singapore, Hong Kong, and Tokyo, here is a breakdown of basic costs and their Philippine peso equivalents*:

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* SGD 1 = P37.78
* HKD 1 = P6.52
* JPY 1 = P0.47

h/t: Market Watch

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About The Author
Hannah Lazatin
Senior Staff Writer
Hannah is a communications graduate from Ateneo de Manila University. She’s originally from Pampanga and from a big, close-knit family who likes to find a reason to get together at the dinner table. Experiences inspire her. “Once, at a restaurant, I received an interpretation of my second name ‘Celina,’ and it meant 'someone who tries everything once' and that is me through and through,” she says. As for the job, she wants her “readers to be inspired by the stories of the people we feature and to move them to reach for greater things.”
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