Five Reasons Singapore is Now the Most Expensive City in the World and Why We Shall Not Emulate Them #KLChronicle

#KLChronicle : Singapore was named the worlds most expensive city to live in but in Malaysia we still have people who want's the government to emulate Singapore tax structure. What for? Already the Rakyat is suffering form high prices of car, property etc. The government should focus on increasing wages rather than taxing the people like how Singapore does. 

With Singapore being named the world's most expensive city, the Straits Times has published a comparative study on the five big ticket items which contributed to the ranking.

The Straits Times report compared the prices of these items with those of a similar standard in five different developed nations.

The following are the items and the price comparisons:

Property rental

A three-bedroom apartment of between 1,200 and 1,500 sq ft averages S$8,000 (RM20,700) a month in Singapore.

In New York, a three-bedroom apartment of between 950 and 1,800 sq ft ranges from US$1,750 (S$2,221, RM5,700) to US$2,500 in the outlying neighbourhoods and US$6,000 to US$15,000 in Manhattan.

Cars

A Mercedes Benz E-class in Singapore will cost upwards of S$277,000 aside from an Open category COE which can be acquired for another S$79,000. (COE is the Certificate of Entitlement which one must have in order to buy a car.)

In Germany, a Mercedes Benz E-class will cost from €40,668 (S$71,062, RM183,400) onwards.

Clothing, in the category of luxury retail

If you are thinking of shopping in Singapore, be mindful that a Giorgio Armani men's suit starts from S$3,000 and can go up to S$4,000. On the other hand, in Italy, a men's suit from Giorgio Armani starts from €1,500 (S$2,619).

Food & wine

The signature dish of steak tartare at the famous L'Atelier de Joel Robuchon restaurant at Resorts World Sentosa costs S$52. A bottle of Moet & Chandon in Singapore costs at least S$83.

Similarly, a degustation menu at the L'Atelier de Joel Robuchon restaurant in Paris costs €38 (S$66). A bottle of Moet & Chandon in France usually costs only €32.90 (S$57).

Utilities

Finally, according to the Straits times, in Singapore, the utilities bill for a four-person household in a HDB flat is likely to average between S$150 and S$200.

In Tokyo, the utilities bill for a four-person household in an apartment averages between 12,000 yen (S$150, RM386) in summer and 30,000 yen (S$375) in winter. – March 4, 2014.