Most expensive city In the world

It is not really very surprising honestly that Singapore is considered the world's most expensive city. I mean just look at the prices of our cars. No one else in the world pays that much for private means of transport! Of course that is primarily due to the certificate of entitlement (COE) which is basically the right to own a private vehicle. This piece of paper is limited and given to the highest bidders. So it is essentially 'who is willing to pay gets to drive' system. Pretty smart on the government's part. Let the people outbid each other for what they want. The higher the bid the more they have to pay. Haha. 

Other than cars, of course you have the pricesof properties which in honesty might not be the highest in the world if calculated in price persquare foot. But it is among the highest. And in land scarce Singapore, property prices have only one way. Up! And of course rental prices go along with it.

So there you have two needs - one a means to move around and the other a roof over the head at prices way above the world's average. Not surprising isn't it that Singapore is the world's most expensive city? 

When prices of two basic needs are sky high, that is reflected in basic goods and services. Logic really. If rental is high, prices need to behigh to make a decent profit margin. So that needs to be passed on to the consumers. So again not surprising everything is 'expensive'.

So in a nutshell, it is not surprising indeed. But as long as the people are willing to pay, prices will keep going up.

Thanks for reading!