[Graphic News] Singapore named world’s most expensive city

The eye-watering cost of owning a car in space-starved Singapore means the city-state is the world’s most expensive place to live - for a fifth year in a row - according to the Economist Intelligence Unit’s Worldwide Cost of Living 2018 survey.

The Asian financial hub - where owning a no-frills sedan can set you back $76,000 - beat global capitals to the dubious title, despite stiff competition from resurgent European cities.

Pricey perennials Tokyo and New York did not even make the top 10 in the annual list by the Economist Intelligence Unit, beaten out by Paris and Zurich (tied for 2nd), Hong Kong (4th) and Oslo (5th).

Seoul and Geneva shared the No. 6 spot, while Copenhagen, Tel Aviv and Sydney rounded out the rankings.