Singapore’s super rich are always on the lookout for new playthings. At a jetty near the Changi Airport over the weekend, a vehicle called The Humdinga – a cross between a Hummer and a boat – was launched in a display for local media. The amphibious car is designed for disaster relief and policing, but some of the city state’s wealthier residents are eyeing it as an alternative to another Ferrari 458. The chance to bypass traffic by dipping into the waterways to reach the office, golf course or their yacht, is pretty alluring.
For the wealthiest, the news this week that Singapore now tops Tokyo and Osaka as the world’s most expensive city, according to a survey by the Economist Intelligence Unit (EIU), is probably not much of a surprise. But for ordinary Singaporeans, the daily cost of living has become a serious concern.
The survey, which compared cost of living in 131 cities, points to a strong Singapore dollar and depreciation in the Japanese yen for the result. Singapore was found to be the most expensive city to run a car and the most expensive place to buy clothes.
“The cost of living here has risen so rapidly in recent years that it’s practically impossible for young couples to afford housing or quality childcare unless they’re both working in relatively well-paying, white-collar jobs,” said Ashwin, an MBA student at the INSEAD School of Business and a father of a two-month-old, who only provided one name. Full story...
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For the wealthiest, the news this week that Singapore now tops Tokyo and Osaka as the world’s most expensive city, according to a survey by the Economist Intelligence Unit (EIU), is probably not much of a surprise. But for ordinary Singaporeans, the daily cost of living has become a serious concern.
The survey, which compared cost of living in 131 cities, points to a strong Singapore dollar and depreciation in the Japanese yen for the result. Singapore was found to be the most expensive city to run a car and the most expensive place to buy clothes.
“The cost of living here has risen so rapidly in recent years that it’s practically impossible for young couples to afford housing or quality childcare unless they’re both working in relatively well-paying, white-collar jobs,” said Ashwin, an MBA student at the INSEAD School of Business and a father of a two-month-old, who only provided one name. Full story...
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