Asia PacificTwo Japanese cities, Tokyo and Osaka, are the region’s most expensive cities. Other highly ranked Asian cities are Hong Kong (8), Singapore (11), Seoul (14), Beijing (16), Nagoya (19) in Japan, Shanghai (25) and Taipei (78). A total of seven Chinese cities appeared on the 2010 rankings, highlighting the increased commercial importance to multi-nationals of locations other than just Beijing Shanghai and Hong Kong.
New Delhi (85) is India’s most expensive city followed by Mumbai (89) and Bangalore (190). Elsewhere, Jakarta in Indonesia ranks 94, followed by Vietnam’s Hanoi and Thailand’s Bangkok (both at 121) and Kuala Lumpur (138) in Malaysia. Pakistan’s Islamabad (212) and Karachi (214) are the region’s two least expensive cities.
Sydney (24) is Australia’s most expensive city followed by Melbourne (33) and Brisbane (55) while Adelaide (90) is the country’s least expensive city. Auckland (149) is the most expensive city in New Zealand while Wellington (163) is the cheapest. The Australian Dollar and the New Zealand Dollar have strongly strengthened against the US Dollar, which has moved the cities up in the ranking.
“At the end of 2009 and the beginning of 2010, residential property prices in many Asian countries rose as the economic environment began to stabilise and demand for good expat housing increased,” commented Ms Constantin-Metral. “The strengthening of the Australian and New Zealand Dollar against the US Dollar also made Australian and New Zealand cities more costly for expatriates coming from the US.”