The Straits Times cited a Wealth report by Julius Baer which noted Singapore as Asia’s 2nd most expensive city thus overtaking Hongkong which is now in the third place, according to the report . The findings are based on the bank’s lifestyle index report citing 20 goods and services across the 11 Asian cities that projects its costs of luxury living. The data was obtained from June 2015 up until June 2016 which forms part of the bank’s lifestyle index.
Moreover, it also shows that luxury homes in Singapore is more affordable with the fall of city-state prices from last year. The high-end estate prices also dropped to around 21.9 percent in Mumbai while in Tokyo, at about 11.9 percent. Comparison was done by Julius Baer on homes within prime locations with around 4,000 sq ft.
With such development, Singapore surely will live up to its reputation as a livable city for residential and business investments. Shanghai still remained as the most expensive city, now in its second year in a row.