Singapore replaces Hongkong as second most expensive city in asia

Singapore replaces hongkong as the second most expensive city in asia. The first place is still shanghai china as released by the report of swiss private bank julius baer.

strath.ac.uk

Julius baer used lifestyle criteria index compiled which reveals the the cost 20 goods for luxurious living and 11  services items.

OUt of this criteria, shangai still occupies the top one most expensive city. Though the price of luxurious car like BMW is relatively cheaper in this city compared to others, but it has the expensive rate of hospitalization, watches prices, beauty treatment cream. 

The collection of data was done since 2015 to 2016 by julius baer. There is an indication of home and property rate which has significant price decrease to 26.4% compared to last year. 

Julius said the property in singapore tends to be affordable compared to other city due to the decline prices offered that make singapore's property will be more competitive. 

In years to come, singapore's reputation in health care will also significantly increase alluring the foreign home buyers as the state promoting qualified livable city of asia. 

Furthermore, in term of beauty, julius baer also highlights the beauty treatment of which asia countries contribute 36% of global market. It grows 4.5% every year at least until 2019. This indicates the high demand of beauty treatment in market which goes along with sluggish property sector that will affect the purchase capability.