General Intelligence · Logical Deduction

Read the paragraph carefully and evaluate the statement that follows. Paragraph: If you are a high-net-worth individual in Asia fond of fine food, liquor, jewelry, and luxury skin cream, it is good that you do not live in Shanghai. According to Julius Baer's Global Wealth and Lifestyle Report, tracking the expenditure incurred by the wealthy on a value-weighted basis, this Chinese city has moved ahead of Hong Kong as the most expensive city for luxury goods and services. The report said that Shanghai has become more expensive on a relative basis even for buying property, hiring a lawyer, or purchasing watches and handbags (although Hong Kong is still the most expensive in terms of property alone). Kuala Lumpur retains its claim as the least expensive city in Asia - Malaysia's capital is the best place to buy a piano, cigar, or book a hotel suite. Seoul is the most expensive city for both men's and women's luxury goods. This is largely due to the product tax of up to 20 percent on some imports. Statement: Shanghai has become more expensive to buy property than Hong Kong. Select the appropriate option: