{"id":7936,"date":"2016-03-14T17:07:41","date_gmt":"2016-03-14T10:07:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/yep-this-city-is-still-the-most-expensive-metropolis-in-the-world\/"},"modified":"2016-03-14T17:25:01","modified_gmt":"2016-03-14T10:25:01","slug":"yep-this-city-is-still-the-most-expensive-metropolis-in-the-world","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/yep-this-city-is-still-the-most-expensive-metropolis-in-the-world\/","title":{"rendered":"Yep, this city is still the most expensive metropolis in the world"},"content":{"rendered":"


\nAnd its richest citizens are now \u201cpoorer\u201d
\nPhoto credit: OSLAN RAHMAN\/AFP\/Getty Images
\nIt\u2019s that time of the year again when the Economist Intelligence Unit (EIU) releases its Worldwide Cost of Living index, a list that compares individual prices of products, services and rental costs in 133 cities using New York City as base.
\nSingapore tops the list for the third consecutive year, beating other pricey locations such as Zurich (ranked no. 2), Hong Kong (3), London (6) and NYC (7).
\nCommodity prices in the Lion State are 11 percent higher than NYC\u2019s. It\u2019s also more expensive to buy clothes in Singapore, with prices 50 percent higher than in the Big Apple.
\n\u201cMost significantly, Singapore\u2019s complex Certificate of Entitlement system makes car prices excessive, with Singaporean transport costs almost three times higher than in New York,\u201d the EIU report says.
\nMore: What USD1 million can buy you in Singapore
\nThe only other Asian city to make the top ten most expensive urban centres is Seoul (9). On the other end of the index are four Asian cities, Karachi (Pakistan), and India\u2019s Bangalore, Mumbai and Chennai \u2013 the cheapest places to live on the globe.
\nSingapore\u2019s top ranking continues its streak since 2014. But while the EIU list considers majority of expenses, including rental fees, the index does not factor in the cost of residences.
\nIn recent quarters, the property market in Singapore has weakened due to government-led cooling measures. Prices of residential properties dropped nearly 4 percent in 2015, and they are expected to slide further by 3.3 percent in 2016 per Knight Frank.
\nMore: Is SG\u2019s real estate industry ready to roar again?
\nForbes also recently released its 2016 ranking of the world\u2019s richest people, with many real estate billionaires from Singapore making it on the prestigious list, including property siblings Philip and Robert Ng, whose USD7.6 billion fortune this year went down by USD2 billion.
\nAnother set of property brothers, Kwee Liong Keng, Kwee Liong Tek, Kwee Liong Seen and Kwee Liong Phing, have a collective net worth of USD5 billion, lower than the USD5.2 billion reported previously.
\nAccording to a report by PropertyGuru.com.sg, the fortunes of Singapore\u2019s real estate moguls have dwindled amid Singapore\u2019s weak real estate market.
\nRead the full report on Singapore\u2019s real estate billionaires here.
\n
\nSource : property-report.com
\nRead more…Yep, this city is still the most expensive metropolis in the world<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

And its richest citizens are now \u201cpoorer\u201d Photo credit: OSLAN RAHMAN\/AFP\/Getty Images It\u2019s that time...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-7936","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-240","jetpack-related-posts":[{"id":102038,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-is-asias-second-most-expensive-city-for-wealthy-people\/","url_meta":{"origin":7936,"position":0},"title":"Singapore is Asia\u2019s second most expensive city for wealthy people","date":"December 5, 2018","format":false,"excerpt":"\r Singapore remains one of the most expensive cities. Singapore has been ranked as Asia\u2019s second most expensive city to maintain an upscale lifestyle, revealed the latest Julius Baer Lifestyle Index. In fact, the city-state rose one spot in the rankings partly due to the stronger Singapore dollar and an\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28669,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-is-asias-2nd-most-expensive-city-says-wealth-report\/","url_meta":{"origin":7936,"position":1},"title":"Singapore is Asia\u2019s 2nd most expensive city, says wealth report","date":"October 5, 2016","format":false,"excerpt":"\r Singapore has overtaken Hong Kong as the second most expensive city in Asia. Singapore has been ranked as the second most expensive city in Asia, overtaking Hong Kong which is in third place, reported The Straits Times citing a wealth report from Julius Baer. \u201cSingapore has overtaken Hong Kong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28355,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-house-prices-fall-by-most-in-seven-years\/","url_meta":{"origin":7936,"position":2},"title":"Singapore house prices fall by most in seven years","date":"October 3, 2016","format":false,"excerpt":"\r Singapore home prices have dropped by the most in more than seven years as developers offered discounts amid signals from the government that it will not roll back property curbs initiated in 2009.An index tracking private residential prices fell 1.5 per cent in the three months ended September 30\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104989,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/expat-rents-continue-to-drop-in-singapore\/","url_meta":{"origin":7936,"position":3},"title":"Expat rents continue to drop in Singapore","date":"March 14, 2019","format":false,"excerpt":"\r A new study shows that rental prices in Singapore are now on average US$500 cheaper per month than in 2016. Despite the continuous drop in rental prices for expatriates, Singapore remains in the top 10 most expensive locations for expatriate rents in Asia as it occupies eighth place, according\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14178,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-properties-near-singapores-popular-schools-more-expensive\/","url_meta":{"origin":7936,"position":4},"title":"Are properties near Singapore\u2019s popular schools more expensive?","date":"May 24, 2016","format":false,"excerpt":"\r Parents are paying top dollar to move into homes closer to the schools for their\u00a0children. But are these properties really worth more? Image credit: Regality Singapore Every parent wants to do whatever is within their power to give their children a head start in life. Singaporean parents however, are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/prime-properties-now-more-affordable-jll\/","url_meta":{"origin":7936,"position":5},"title":"Prime properties now more affordable: JLL","date":"March 9, 2016","format":false,"excerpt":"\r Singapore\u2019s prime residential property is now more affordable than in other top global cities. (Photo: Erwin Soo, Wikimedia Commons) Prime residential property in Singapore is significantly more affordable now than in the rest of the world\u2019s best cities, according to the latest JLL report. \u201cSingapore ranks amongst the top\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/7936"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=7936"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/7936\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=7936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=7936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=7936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}