Singapore registered one of the highest GDP growth in 2010. Property prices are on a relentless climb upwards, hence many are sitting on assets that are now worth more.
So, are Singaporeans better off?
Below is a comparison of the various aspects from data released by UBS which can be downloaded here .
1. Wage Levels
In 2006, Singapore has a wage level of 38.9 (100 being the benchmark). In 2010, Singapore has dropped to 35.0. This reflects that the wages of Singaporeans have actually decreased over the past 4 years.
2. Domestic Purchasing Power
In 2006, Singapore achieved 54.9 (again, 100 being the benchmark). In 2010, Singapore again dropped to 40.6. Which is a level close to Malaysia (Kuala Lumpur: 40.4).
3. Price Levels
In 2006, Singapore is 62.9. In 2010, Singapore has shot up to the 11 most expensive city at 77.7.
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