Think living in Tokyo is expensive? The city has lost its place as the most expensive place to live in the world to Singapore.

According to the bi-annual Worldwide Cost of Living study by the Economist Intelligence Unit (EIU), they compare 400 prices for 160 products and services to study the differences between the cost of living in various cities.

Singapore climbed to the top this year due because of their soaring currency with extremely high costs of everyday activities, from paying utilities to owning a car. Singapore apparently have the priciest clothes too.

Thanks to a plummeting Yen, Tokyo didn't even crack the top five this year. It fell to sixth place. Here are the top five cities you'll want to live in if you're rich enough:

Singapore, Singapore
Paris, France
Oslo, Norway
Zurich, Switzerland
Sydney, Australia

[EIU via BBC News]