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Sydney

10 most expensive cities in the world

Thanks to its weakening yen, Tokyo has lost its crown as the world's most expensive metropolis.

Now, Singapore topped the list due to various factors such as having the world's highest concentrations of millionaires relative to its 5.4 million population; a per capita income of more than $51,000 in 2012, among others. Also, a new Toyota Corolla Altis costs $110,000 in Singapore compared to around $35,000 in neighboring Malaysia.

In ascending order, here are the ten most costly cities, according to 2014 Worldwide Cost of Living survey by the Economist Intelligence Unit (EIU).