Some of these cities are third world countries that suddenly have precious metal/oil/resource booms, stretching all resources in their enemic supply chains, driving costs very high. Lagos comes to mind...
I did live in Singapore for a year though and that was ridiculous. A relatively small island with a thriving finance, manufacturing, export, and tourist market that was being bought up by newly rich China at alarming rates.
I think that I was there around 2010 and my 500 ft2 condo was $3,500 a month and workth $1.3 million. It was also in a part of town that was not the most desireable. Places like Clarke Quay were much more expensive.
To drive a car you needed to purchase a COE just to be allowed to own one, and the last I checked that alone was 30,000. A basic Hyundai was over 100,000. Then there is the high taxed alochol, a 6 pack was close to $20.
In the years after I left the COL has been going higher and higher too.
"Give us a kiss, big tits."