Four of the world's ten costliest cities are in Asia, with Seoul moving
up from 5th to second place. While Tokyo has lost its title of the world
most expensive city because of currency fluctuations between the Japanese
Yen and the US dollar, it still ranks highly and takes third place. Hong
Kong is in 4th position.
"Chinese cities have moved up slightly in the rankings as the value of
the Yuan renminbi is now pegged to a number of currencies rather than just
the US dollar," said Anna Krotova, Senior Researcher at Mercer. Beijing is
in position 14 (score 94.9) followed by Shanghai in 20th place (91.2).
"Singapore moved from 34 to 17th position as prices on rents of
international standard accommodation have significantly increased during
the period from March 2005 to March 2006. In addition, the Singapore dollar
has very slightly appreciated against the US dollar," said Neo Siew Khim,
Mercer Principal and Human Capital Product Solutions Business Leader, Asia
Mumbai moved from 105th place to 68th place (score from 70.8 to 79.9)
while New Delhi moved up from 110th place to 73rd place (score from 69.9 to
79). New Delhi and Mumbai's ranking increased significantly due to
increasing costs on international standard accommodation. Rents have
increased dramatically in Mumbai due to the increase in capital value and
an acute shortage of expatriate accommodation.
Auckland and Wellington have dropped in the rankings this year to
positions 100 and 105 respectively (scores 72.9 and 71.1) due to the
significant devaluation of the New Zealand dollar against the US dollar.
Sydney is still the most expensive city in the region at 19th place with a
score of 91.3. Melbourne occupies 74th place (78.8) while Brisbane is in
99th position (73.2).
The above relevant snippets r sourced from PR Newswire