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Old 24th July 2008, 11:21 AM   #1 (permalink)
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S'pore getting more expensive for expats: Mercer survey

S'pore getting more expensive for expats: Mercer survey
It moves up a spot in two categories - to No. 5 in Asia and No. 13 in the world
By Francis Chan



PRICEY NEIGHBOURHOOD: Moscow, with the iconic domes of St Basil's Cathedral, is the world's most expensive city for expatriates. -- ST FILE PHOTO

SINGAPORE is now the fifth most expensive Asian city for expatriates, up a notch from an earlier survey, human resources consultancy Mercer said yesterday.

The annual cost-of-living survey did not spring too many surprises, with traditionally expensive cities in Europe and Asia featuring strongly in the top 20 cities for this year.

For the third year running, Moscow retained its top spot, while Tokyo climbed two spots to second, knocking off London and Seoul, which dropped to third and fifth, respectively, in the global rankings.

Singapore, which was number six in Asia last year, also edged one spot higher in global rankings this year, coming in at 13th.

'Singapore's rise in the rankings is partly attributable to the appreciation of the Singapore dollar against the US dollar,' said managing director for Mercer-Asean, Ms Su-Yen Wong.

'Another contributing factor is its continued strength as a hub for the region...this has increased demand for items such as housing, food and transportation.'

Mercer's survey, which covers 143 cities around the world, measures and compares the costs of over 200 essential items for expats.

These include housing, transport, food, clothing, household goods and even entertainment.

The rising cost of living reflected in the survey confirmed the global trend of price increases for staple items such as food and petrol.

The findings also showed a high correlation between the cost of living, economic growth and quality of life in a country.

This was more true for fast-developing Asian cities such as Singapore, where the cost-of-living increase can be attributed to the higher quality of life enjoyed by residents, Mercer said.

But despite rising living costs, especially in housing, Singapore remains competitive compared to its Asian neighbours such as Tokyo, Seoul and Hong Kong, and other global financial centres such as London and Zurich.

This has also not deterred foreign firms from setting up shop in Singapore.

'Our members are concerned about increasing rents but other costs are pretty much at world standard levels,' said Mr Nick Cocks, president of the Australian Chamber of Commerce, Singapore.

'And, overall, most of our members find Singapore a great place to live.'

Its American counterparts, however, painted a less-than-positive picture of Singapore.

A recent survey by the American Chamber of Commerce here showed that 74 per cent of its members were 'dissatisfied' with the cost of leasing offices and housing, while 95 per cent expected the cost of living to rise.

New York, the most expensive city in the US, is ranked 22nd on Mercer's global list.

http://www.straitstimes.com/Free/Sto...ry_260782.html

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Old 24th July 2008, 11:34 AM   #2 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

just be thankful it hasent reached the number 1 yet

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Old 25th July 2008, 10:30 AM   #3 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

Too expensive for locals too...

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Old 25th July 2008, 02:16 PM   #4 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

Originally Posted by Miss QQ View Post
Too expensive for locals too...
Indeed

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Old 28th July 2008, 06:33 PM   #5 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

Originally Posted by Miss QQ View Post
Too expensive for locals too...
100% agree. With no pay increment too.

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Old 28th July 2008, 06:38 PM   #6 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

Originally Posted by Voodoo Vince View Post
100% agree. With no pay increment too.
dun retrenched good enough liao...
still 1 2 haf pay increment?


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Old 28th July 2008, 08:09 PM   #7 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

expensive city.mayb my daily spendin is gonna afect.get more money

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Old 28th July 2008, 09:09 PM   #8 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

Originally Posted by Beanman View Post
expensive city.mayb my daily spendin is gonna afect.get more money


????
Can anyone translate this?

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Old 29th July 2008, 11:35 AM   #9 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

we all need our god dem pay rise!
like comeon. things are getting so expensive here and our pay?! remains the freaking same!
maybe that explains why lots of us (locals) are moving overseas. =\

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Old 29th July 2008, 11:51 AM   #10 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

Yup housing is the most expensive. Our retail clothings cost much more than most of our Asian countries.

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Old 2nd August 2008, 12:35 AM   #11 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

can you see that they dun care for locals anymore ?
they just care for expats.
they just say , locals have to bare with it, everywhere are the same.

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Old 2nd August 2008, 12:37 AM   #12 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

Originally Posted by hometutors.sg View Post
Yup housing is the most expensive. Our retail clothings cost much more than most of our Asian countries.
housing, yes. clothing not really. Japan,Hong Kong are more ex.

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Old 2nd August 2008, 01:22 AM   #13 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

migrate migrate

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Old 2nd August 2008, 01:52 AM   #14 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

Originally Posted by wetdreamx View Post
migrate migrate
Say like better don't say.

Migrate ain't cheap.

Live it on. Fight Fight Fight!

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Old 2nd August 2008, 12:49 PM   #15 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

Singapore should aid us.. and not by setting up so much gantries and heighten taxes.
What can we do anyways.
Just do what we have to do, maybe hopefully , some genius will have the brains to make our lifes easier.

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Old 6th August 2008, 04:27 PM   #16 (permalink)
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Re: S'pore getting more expensive for expats: Mercer survey

everyday look for $2 meals or bring your own water bottle drink and drink until u feel full or else eat maggi mee

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