The expense of living has risen in the last year for everyone, rich and poor alike, as prices have risen. Some cities were struck more severely than others. According to the Julius Baer Lifestyle Index, which yearly ranks the world’s most costly cities, Asia is the most expensive area for luxury living, with Singapore ranking as the most expensive city. It surpassed Shanghai as the top city in 2022 this year.
The Julius Baer (pdf) index examines the cost of 20 goods associated with a high-end, cosmopolitan lifestyle, such as premium residential real estate, expensive cars, business-class flights, and lavish dinners.
List of 10 Most Expensive Cities in the World?
From escalating living prices to volatile real estate markets to food and transport costs, we’ve highlighted the world’s most costly cities, as determined by the Economic Intelligence Unit’s most recent survey. Through research and analysis, the EIU focuses on national reports and economic forecasts. Below is the ten most expensive cities in the world:
1. Singapore
From escalating living prices to volatile real estate markets to food and transport costs, we’ve highlighted the world’s most costly cities, as determined by the Economic Intelligence Unit’s most recent survey. Through research and analysis, the EIU focuses on national reports and economic forecasts. The poll, which ran from August 16 to September 16, 2022, tracked expenses in 172 places throughout the world, including services and goods.
2. New York City, New York
hefty city, hefty rent, big lights. The average rent in New York City has risen by 3.25%, with one-year lease rates rising by 3.25% and two-year lease rates rising by 5% or more, the highest increase in nearly a decade. Rent reached an all-time high of $4,000 for the first time in May 2022, and then $5,000 for the first time in June 2022.
3. Tel-Aviv, Israel
Tel-Aviv has it all, from beautiful beaches to lively nightlife and world-class restaurants. However, all of that fun comes at a high cost. Tel-Aviv, Israel’s largest city, has a reputation for being not just lively, but also highly varied and visitor-friendly. However, real estate is quite pricey, with the average monthly rent for a one-bedroom flat coming in at $1,725.
4. Hong Kong, China
According to EIU, Hong Kong is tied for fourth place in the world’s most expensive cities with Los Angeles. With over 7 million people living in the city, it’s not so much the expense of rent as it is the competitive demand for property and all the activities Hong Kong has to offer, such as its countless markets, nightlife, and attractions.
5. Los Angeles, California
There’s a reason why Hollywood celebrities spend so much money on a new flat or house. It’s expensive to live the glitzy Hollywood lifestyle. Not only is Los Angeles’ location a major cause for its high home prices, especially with a population of 10 million people, but the city’s high taxes for residents and 9.5% sales tax make it an expensive place to live. Apartment rentals in January 2020 averaged more than $2,500, nearly double the national average.
6. Zürich, Switzerland
With just one look at Zürich, you can tell why it is one of the most expensive cities in the world. The financial capital, located at the northern end of Lake Zürich, is known for its waterfront promenades, high-end shopping, and exquisite chocolate. It is also the most expensive city in Switzerland to rent in, with an average rent of almost $2,000 for a single individual.
7. Geneva, Switzerland
Geneva, known for the Jet d’Eau, the world’s biggest water fountain, is a city with plenty of luxury cafés and shopping for days. But all of that luxury comes at a great cost. When it comes to rent, food, and transportation, an individual’s monthly expenses are around $3,500.
8. San Francisco, California
It’s no surprise that the Tanner family in Full House had nine members at one point in the 1990s. Rent on the West Coast has always been high, but housing prices in San Francisco in 2022 grew 10% over the previous year, bringing the average price to roughly $1.5 million. Renters must earn at least $100,000 per year to live comfortably in “The Golden City.”
9. Paris, France
The City of Love offers unparalleled architecture, food, and fashion, so it’s no surprise that living in France’s capital city of Paris is quite expensive. A high demand for housing and retail space, along with a scarcity of both, makes it difficult to afford real estate.
10. Sydney, Australia
The Australian city was named the 10th most expensive location to live in the world by EIU, a position it shares with Copenhagen, Denmark. The city climbed one spot from the previous year, when it was placed 14th.
Exorbitant rent fees are one of the elements contributing to Sydney’s rising cost of living; the weekly rent for a one-bedroom apartment can range from $450 to $550, and a two-bedroom apartment starts around $650. High demand and low inventory in the real estate market make it tough for city inhabitants to find an inexpensive home to buy.
What is the most expensive City in America?
The most expensive city in America is New York City.
The average rent in New York City has risen by 3.25%, with one-year lease rates rising by 3.25% and two-year lease rates rising by 5% or more, the highest increase in nearly a decade.
Rent reached an all-time high of $4,000 for the first time in May 2022, and then $5,000 for the first time in June 2022.
What is the most expensive City in Africa?
Dakar, Senegal, was named the most expensive city in Africa to live in 2023, based on consumer goods prices. The Senegalese capital received a score of 47.2, whereas Addis Ababa, Ethiopia, received a score of 44.2. Morocco and South Africa have the most representatives among the 15 African cities with the highest cost of living.
Source: thpttranhungdao.edu.vn/en/
Categories: News
Source: thpttranhungdao.edu.vn/en/
