Seoul Asia's costliest for expatriates: Survey

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Seoul is Asia's costliest city for expatriates while the weaker yen has made Japanese cities more affordable, a survey released on Monday has said.

The latest twice-yearly survey by human resources firm ECA International showed the South Korean capital jump one notch higher to rank seventh globally in a list of the most expensive places for expatriates over the last 12 months.

Tokyo retained its place as the second most expensive Asian city but globally, the Japanese capital dropped out of the top 10 list for the first time because of the weaker yen.

"Depreciation of the yen against most other currencies, coupled with low inflation, has significantly reduced living costs for foreigners in Tokyo, Yokohama and Kobe in recent years," ECA International said.

Yokohama placed third, followed by Kobe, Hong Kong, Taipei, Beijing, Shanghai and Singapore, with the Chinese city of Guangzhou taking the 10th spot, the survey said.

There were 15 Chinese cities featured in the list of 39 Asian cities surveyed.

Higher food prices, along with the strengthening Chinese currency, have seen expatriates' living costs in Chinese cities go up, narrowing the gap with other more developed East Asian cities such as Hong Kong and Taipei.

"In China soaring food, oil and grain product prices along with the strengthening yuan against the US dollar have meant that locations throughout China have pushed up through the ranking during this period," ECA International said.

Jakarta was the 11th most expensive place, Bangkok was in 18th place and Manila was in 19th place.