Singapore has become, according to the latest survey by the Global Cost of Living, the world's most expensive city.

That report, sponsorised by the Intelligence Unit of The Economist magazine, is biannual and ranks 131 cities worldwide amongst the most expensive and the cheapest cities in the world. Singapore has managed to dethrone Tokyo for its currency appreciation, its strong price inflation and its high cost of living.

To get an idea, the total accommodation cost in Singapore depends on the proximity to the city, availability of recreational facilities like swimming pools, gyms... so far so good as any other big city.

However, salaries of experienced professionals are proportionately high. Furthermore, transport, school fees and accommodation facilities can be included in an employment package, but not all residents have access or the right to such benefits. That is because, due to increased competition among qualified professionals interested in working in Singapore, companies are increasingly willing to hire foreigners as they accept wages without additional benefits. If you wish to rent a room in Singapore, a 3-room flat in the city center varies between 5,000 € and 10,000 € per month. On the other hand, apartments in marginal areas of the city range from 3,000 € to 5,000 € per month. If you have a tight budget, you can live in an apartment provided by the government, which includes all basic services. In this case, a 3 bedroom apartment has prices up to 2000 € per month.

The food costs are not extremely expensive in Singapore, as a meal in a restaurant costs about 72 € but you can also find healthy meals at local shops for 7-8 €. Public transport is more efficient and cheaper than private vehicles within the city. Interestingly, Singapore has one of the best and less expensive public transport systems in the world. On average, a monthly bus card has a cost of 100 €. Still, it remains three times more expensive than New York’s public transport.

As for supplies, such as gas bill, water and electricity, they can vary between 150 € and 430 € per month, while the phone bill goes from 25 € to 70 € per month and Internet cost is around 40 € per month. In addition, Singapore has very few natural resources so it depends on other countries for energy and water supply. This makes it one of the most expensive destinations in relation to the costs of public services.

http://www.bbc.com/news/business-26412821

http://www.theguardian.com/cities/2014/mar/05/singapore-most-expensive-cities-2014-list-paris

http://www.cnbc.com/id/101462586#.

http://time.com/12063/worlds-most-expensive-cities-2014/

http://business.asiaone.com/news/singapore-most-expensive-city-the-world-economist