Who don’t want to live in big and developed cities? But they come at a price and require high income for affordability. In this article we will talk about 10 most expensive cities in the world.
Most Expensive Cities In The World
Hong Kong
One of the most expensive cities in the world. Due to its high living cost and prices of goods. Where a litre of petrol is $3.04, Cup of coffee is $5.21 and one kg of tomato costs $11.51.Hong Kong is also forth most densely populated city in the world. It is very obvious why Hong Kong is very overpriced city.
Singapore
Another Asian country on the list of most expensive cities in the world is Singapore. For 8 out of 10 years Singapore was named as the world’s most expensive city as per the Economist Intelligence Unit (EIU)’s Worldwide Cost of Living. It is expensive for living and working. Due to high cost of housing, alcohol and clothing Singapore often ranks high in this list. It is also ranked third in population density.
New York
Very popular American city New York is also on the list of overpriced cities in the world. There are many factors which makes New York very expensive to live. Few of them are high rental properties, taxes, transportation cost and high demand of housing. On an average to live a comfortable standard of living one needs to earn between $90k to $150k a year.
Tel Aviv
Israel’s commercial and cultural capital Tel Aviv. It is third largest economy in the Middle East. But it was also ranked the most expensive city to live in 2021. In metropolis area property prices are very high and it also very expensive to buy clothing and groceries due to strong currency of the country, which makes local goods expensive when converted to USD.
Los Angeles
There should be no doubt that why this glamorous and luxury city is one of the most expensive cities in the world to live. Los Angeles known for fashion, Hollywood and palm trees. House prices are one of the highest in America. Rental properties are sky rocketing. High car insurances and gas prices are another reasons for high living cost.
Zurich
Zurich is known for beautiful landscapes and it is always on the list of tourists. Zurich is wealthy city and locals need high income to afford and live. Train tickets, grocery prices are very high and the average rent for one bedroom is $1700 per month. Due to these reasons Zurich is consistently on the list of most expensive cities in the world.
Geneva
Geneva is another swiss city on this list of most expensive cities in the world. Geneva has strong housing demand causing high prices in real estate price. Study in 2017 found that average property cost in Geneva can reach as much as up to $70, 807 USD per square meter.
San Francisco
Known for its Tech Culture and 13th largest city of United states is also one of the of most expensive cities in the world. It has high prices of rental properties and goods. On an average a person needs to pay around $3000 USD per month for one-bedroom apartment. Family of four with income of $117,400 USD is considered low income in the San Francisco’s Bay Area.
Paris
Most visited city in the world, popular for Eiffel tower and it is always on the list of tourists for its history, architecture and attractions. Rent prices are high on an average person needs to pay $2200 per month for an unfurnished flat in the city. Transportation cost, groceries and clothing costs are high as well.
Copenhagen
Denmark’s capital city known for the bike culture and landscapes, it is also one of the most expensive cities in the world. Transportation, personal care and recreation costs are high in Copenhagen. On an average renter pays about $1800 per month for one-bedroom apartment.
In conclusion, living in some of the world’s most expensive cities in the world comes with heft price tag. But one needs to earn good amount of money to afford living there. I hope you will find this list helpful and will get required information.