10 Most Expensive Cities To Live In The World
Monday, March 10, 2014, 1:00 PM | Leave Comment
Planning on moving abroad? Based on a recent survey by The Telegraph, we’ve put together a list of the 10 most expensive cities in the world to live in and the results might surprise you.
Despite their popularity, fashionable destinations such as London, New York & Paris didn’t show to have the highest cost of living – instead the balance has shifted to Eastern Europe & Far East Asian cities.
Here is a list of the top ten expensive cities of the world.
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Tokyo
It is the most expensive city for the expatriates. The accommodation rents are highest in terms of any other city in the world. Currently, there are about 420, 000 foreigners living in the city, and there are several migrant workers staying here. With the increase in radiation levels, several safety warnings have been issued.
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Luanda
It occupies the second position. It is the main administrative centre of Angola. The population is about 4.8 million, and 68% of the population lives below the poverty line. However, it has one of the fastest growing economies with foreign investment opportunities.
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Osaka
The consumer price index of this city is 94.30 and the local purchasing power is 107.34. It is the first two of the Japanese cities with a population of 2.6 million. The accommodation, food prices and costs of transportation are expensive here.
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Moscow
It is the most expensive city in Europe for expats and ranks fourth in the world. The city has surpassed New York with the greatest numbers of billionaires. The local purchasing power is about 45.78 while the consumer price index is 69.61. Housing, schooling and medical cost are the top most reasons that contribute to the expense.
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Geneva
It is the second Swiss city with a population of just 200, 000. It occupies the fifth place in terms of expenses. The prices of restaurants, accommodation, transportation and utilities are comparatively high in this city, especially in the city center. The cost of monthly rate can be about 1209 Euros. A solo meal can cost about 13 Euros.
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Zurich
It holds the sixth position jointly with Singapore. The local purchasing power is about 118.48 and is the second most expensive city in Switzerland. The quality of living is undoubtedly high, but irrespective of its settlement for more than 7000 years, many are surprised to find the cost of living.
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Singapore
It occupies the sixth position jointly. There are 63 islands in the country with a joint population of around 5 million. The main expense associated with the city is rent. The salaries are generous. There is pronounced inequality in respect to income and wealth. Apart from housing costs, transportation and utilities contribute to a majority of the expense.
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N’Djamena
The capital and also the largest city of Chad occupied the third place in 2011, and now it has fallen in the list. It has a population of around 0.994 million, and just sitting in the country turns out to be expensive. a cup of coffee can cost around $3.06 while the monthly rent can be about $2000.
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Hong Kong
With a population of 7 million, the city ranks in the 9th position in terms of expense. Living in this city can offer sheer endless possibilities with its great infrastructure, vibrant life and entertainment. However, the cost of accommodation and public transportation is pretty high in the city.
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Nagoya
This city in Japan moved up from the 11th to the 10th position. It is the fourth most populous area in Japan. The standard of living is high, but everything right from the food to the apartments and transportation are expensive. This creates great limits for individuals that do not have high income.
There are several factors on the basis of which the expenses are considered to determine the most expensive cities. The earning capacities of individuals, their net worth along with poor credit mortgages at justbadcredit.co.uk also contribute a lot in high living expenses of individuals in different cities. The survey is conducted every year and the list keeps on changing.
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