Singapore is ranked as the city with the highest living costs in the Association of South-East Asian Nations (ASEAN), according to the result of a worldwide 2011 cost of living survey by the Economist magazine in the UK .

The city is followed by Bangkok of Thailand in second place and Kuala Lumpur , the capital city of Malaysia is third.

In China , Hong Kong moved up to 11th from the 28th position last year, while Shanghai and Beijing are rated 29th and 36 th .
The magazine’s economic experts said that prices of domestic products and exchange rates are the major factors driving the living cost increases in Asian countries.

However, there are five cities in Asia on the list of the top 10 cities with the lowest living costs in the world, comprising Manila, capital of the Philippines, Kathmandu in Nepal, New Delhi and Mumbai in India, and Karachi in Pakistan./.