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Singapore named world’s most expensive city

Singapore has been dubbed the world's most expensive city to live in, according to a survey of the Economist Intelligence Unit (EIU).
Singapore named world’s most expensive city ảnh 1Singapore has been dubbed the world's most expensive city to live in, according to a survey of the Economist Intelligence Unit (EIU) (Photo: Getty image)

Hanoi (VNA) – Singapore has been dubbed the world's most expensivecity to live in, according to a survey of the Economist Intelligence Unit(EIU).

This is the fifth year in a rowthat Singapore has been at the top of the list. In the EIU survey released onMarch 15, Paris (France) and Zurich (Switzerland) shared the second place,followed by Hong Kong (China), Oslo (Norway), Seoul (the Republic of Korea) andGeneva (Switzerland), Copenhagen (Denmark), Tel Aviv (Israel) and Sydney(Australia).

The world’s most expensivecities like Tokyo (Japan) and New York (the US) are not among the top 10.

Singapore remains the mostexpensive place in the world to buy and run a car, although for other categories,it is significantly cheaper than other cities.

Singapore has avoided trafficcongestions like in other Asian countries by controlling vehicle ownershipthrough a quota system under which a buyer must pay for a Certificate ofEntitlement worth about 30,500 USD, on top of the vehicle’s actual price.

According to the EIU, theweakening of the US dollar in 2017 caused US cities to slip out of the top 10.

Meanwhile, Damascus (Syria), Caracas (Venezuela), Lagos(Nigeria) and Karachi (Pakistan) were listed among the top 10 cheapestlocations this year.-VNA

VNA
#Singapore#world's most expensive city#Economist Intelligence Unit (EIU)#vehicle ownership#quota system#vietnamplus#Vietnam News Agency
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