Hong Kong is the overall most expensive ciy in Asia-Pacific and is the second most expensive city in the world (after Luanda), mainly due to the extremely high housing costs, as well as high cost of schooling and limited space available making rentals high. However, when you exclude costs related to housing, education, medical and transport, Hong Kong falls out of the top ten city rankings for this region.

Singapore remains the second most expensive city in the Asia-Pacific region for expatriates (3rd most expensive in the world) and tops the region rankings when costs related to housing, education, medical and transport are excluded.

Tokyo is the third most expensive city in Asia-Pacific, and 8th globally. Japanese locations have moved up in the rankings with 6 cities in the Asia-Pacfic top 10 most expensive places.

Shanghai is the fourth most expensive place for expatriates in the Asia-Pacific region, and 12th globally.
http://www.xpatulator.com/cost-of-living-article/Asia-Pacific-Expat-Cost-of-Living-Comparison_709.cfm