Recently, Singapore was named the world's most expensive city in terms of the cost of living. This comes as a surprise to many observers, who have long held the West's cities to be of a much higher cost and standard of living. It appears Eastern cities are now on the rise.
No, it does not come as a surprise that Singapore was recently named the world's most expensive city, because they do not have a place to expand. With such limited land mass, if they want to expand, they have no where to go but up. There are also a lot of rich people there, which drives up prices.
The entire Asia Pacific region is rapidly developing economically, the prices on everything is shooting up as more and more people are getting greater amounts of wealth and when you couple that with the worlds largest and fastest growing population you get prices that are going to skyrocket, so it's no surprise that Singapore is the world's most expensive city.
It does not come as a surprise that Singapore was recently named the world's most expensive city. I think at some point we expected it. Last year, Japan was named the most expensive city but has dropped to number nine in the charts. It is now more expensive to drive in Singapore then New York City.