Singapore Costs Exceed Hong Kong for First Time, Mercer Says

Singapore overtook Hong Kong as a more expensive city for expatriates for the first time, driven by a stronger currency and higher rents, according to Mercer’s Worldwide Cost of Living Survey.

The island-nation was ranked the eighth-most expensive city worldwide, rising from the 11th spot last year following a “substantial increase” in housing costs, Mercer said in an e-mailed statement today. Hong Kong dropped one level to ninth place, the survey showed.