Cost of Living in Shanghai Now as High as Tokyo

Cost of Living in Shanghai Now as High as Tokyo
Mar 14, 2016 By eChinacities.com

According to the results of the latest Economist Intelligence Unit (EIU) Worldwide Cost of Living survey that were released last Thursday, the cost of living in China continues to increase at a rapid rate. Living in Shanghai is now as expensive as living in Tokyo.

In comparison to the previous year’s results, Shenzhen climbed 14 spots from 28th to 16th place, and Beijing jumped from 46th to 31st. Suzhou, Chengdu, Dalian, Guangzhou and Tianjin are now in the top 60, and Shanghai climbed two spots to 11th, putting them on par with Tokyo, which was once the most expensive city in Asia.

According to the 2015 Lifestyle Index Report published by Julius Baer, the cost of housing in Shanghai rose 15% in 2015. Services such as medical and real estate are almost twice as expensive in Shanghai in comparison to most other major cities in Asia.

Singapore once again ranks as the most expensive city to live in in the world. Hong Kong and Zurich are tied for second.

Source: inews.qq.com

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Keywords: Shanghai cost of living Shanghai expensive China cost of living

3 Comments

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Guest2650392

the land of fakes ......

Mar 21, 2016 15:07 Report Abuse

adb2014

One of China's main selling points has always been the low cost of living. However,it's increased so much in the major cities that I'd be no worse off in Australia. Healthcare and education for example,is cheaper back home and much better quality. Anyone who moves to China will do it for the cultural experience but can't expect to live well any more.

Mar 16, 2016 11:55 Report Abuse

Guest593844

The bigger point to get here is that most Chinese can't afford the level of living that is being calculated by these surveys. Because prices are made inaccessible to the commoner, everyday folks have to skimp on healthcare, living conditions, transportation, food, etc. The average folk in Tokyo makes roughly four times what the average person makes in Shanghai. Why is the cost of living the same? Makes a lot of sense China.

Mar 16, 2016 09:51 Report Abuse