Last Updated: 2012-06-22
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SINGAPORE, June 22 (NNN-Xinhua) -- Singapore is less expensive for international assignees than Beijing and Shanghai, as the city- state ranked the 8th most expensive city in Asia, two positions down from last year, according to the latest Cost of Living survey by human resource consultancy ECA International released on Thursday.

Beijing and Shanghai ranked respectively the fifth and the sixth priciest cities in Asia mainly due to its sharp increased price of goods and services commonly purchased by expatriates and its strengthened yuan against major currencies, the ECA said.

Despite of its falling in Asia, Singapore still saw a continued rise in global ranking, up from 38th last year to 32nd this year. The ECA explained that the rise should be attribute to the city- state's price increase of 6 percent on year for international assignees as well as the strong Singapore dollars.

Among the ranking, Japan's Tokyo, Nagoya, Yokohama and Kobe took the top four places in Asia while Tokyo remain the most expensive city all around the world. China's Shenzhen and Guangzhou also saw a considerable climb to the 10th and 11th place respectively in Asia, following Hong Kong. It's also the first time both cities surpassed Central London, the ECA said. -- NNN-Xinhua