Cost of living for a family of four in 10 major cities in Asia

Living in a big city can cost you a lot of money, so it's best to be aware of all the details before you make that big move.

In Asia, Hong Kong and Singapore top the list of the most expensive cities to live in. A family of four can expect to spend an estimated $9,000 a month living in either of these cities, according to Numbeo, an online database of user-contributed information.

As global financial centers, Singapore and Hong Kong attract expatriates from around the world, which could drive up prices, according to a report by human resources consulting firm Mercer in June.

“Singapore is one of the most attractive locations for people looking to advance their careers,” Tracy Ma, Mercer’s regional head of mobility for Asia Pacific, told CNBC, adding that factors such as the country’s “strong” economy and numerous opportunities can attract expats to the country.

Moreover, both these cities have hot residential markets.

“Hong Kong has always been one of the most expensive rental markets in the world, due to the limited supply of housing and the number of people moving there,” Ma said.

Singapore has also seen a “massive increase” in residential rents from 2022, however, prices have started to stabilise in recent months, Ma said.

Private residential rents in the island nation fell for the second straight quarter, falling 1.9% in the first quarter of 2024, after a 2.1% decline in the last quarter of 2023, according to the Urban Redevelopment Authority of Singapore.

Here's a broader look at the cost of living for a family of four in 10 major cities in Asia, according to Numbeo data:

Population: 6.1 million

Estimated monthly living costs (excluding rent): $4,025

Rent for a 3-bedroom apartment in downtown: $5,308

Total cost of living: $9,333/month

Population: 7.7 million

Estimated monthly living costs (excluding rent): $4,137

Rent for a 3-bedroom apartment in downtown: $4,997

Total cost of living: $9,134/month

Population: 10 million

Estimated monthly living costs (excluding rent): $4,123

Rent for a 3-bedroom apartment in downtown: $2,528

Total cost of living: $6,651 per month

Population: 37 million

Estimated monthly living costs (excluding rent): $3,431

Rent for a 3-bedroom apartment in downtown: $2,634

Total cost of living: $6,065 per month

Population: 29.9 million

Estimated monthly living costs (excluding rent): $2,311

Rent for a 3-bedroom apartment in downtown: $2,716

Total cost of living: $5,027 per month

Population: 11.2 million

Estimated monthly living costs (excluding rent): $2,304

Rent for a 3-bedroom apartment in downtown: $1,664

Total cost of living: $3,968 per month

Population: 14.9 million

Estimated monthly living costs (excluding rent): $2,209

Rent for a 3-bedroom apartment in downtown: $1,619

Total cost of living: $3,828 per month

Population: 11.4 million

Estimated monthly living costs (excluding rent): $1,732

Rent for a 3-bedroom apartment in downtown: $1,260

Total cost of living: $2,992 per month

Population: 9.6 million

Estimated monthly living costs (excluding rent): $1,746

Rent for a 3-bedroom apartment in downtown: $1,157

Total cost of living: $2,903/month

Population: 33.8 million

Estimated monthly living costs (excluding rent): $1,383

Rent for a 3-bedroom apartment in downtown: $727

Total cost of living: $2,110 per month

Globally, Geneva, Switzerland tops the list for cost of living at $6,201 per month for a family of four, with Zurich coming in second on Numbeo’s 2024 Cost of Living Index, followed by New York City, San Francisco, California, and Boston, Massachusetts.

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