Singapore Tops List Of World′s Most Expensive Cities

Market volatility has led to a shake-up in global living costs. A new list of the world's most expensive cities comes with a few surprises.

Singapore (above) topped a new list of the world's most expensive cities

published this week, while Tokyo - consistently ranked as one of the costliest cities in the world - fell from the top ten.

The Economic Intelligence Unit (EIU), which compiled the cost of living index, cited fluctuating currencies, inflation and commodity costs as the reasons behind the shake-up.

"Only eight cities of the 133 surveyed have seen their ranking position remain unchanged in the last 12 months," the EIU said.

Hong Kong, coming in at third place, was the other Asian city ranked in the top five.

Swiss city tops Europe's most expensive

European cities certainly weren't shortchanged, either. The German-speaking city of Zurich, in Switzerland, was ranked just behind Singapore at second place, while another Swiss city, Geneva, was ranked fourth.

Paris and London, meanwhile, were ranked fifth and sixth, respectively.

"In nearly 17 years of working on this survey I can't recall a year as volatile as 2015," said Jon Copestake, an EIU editor, according to AFP news agency.

Below are the ten most expensive cities as ranked by EIU:

1. Singapore
2. Zurich
3. Hong Kong
4. Geneva
5. Paris
6. London
7. New York
8. Copenhagen
9. Seoul
10. Los Angeles

Culled -www.m.dw.com