Foreign Property News | Posted by Hnin Ei Khin
The Economist Intelligence Unit released the 2018 Worldwide Cost of Living Survey which ranked cities on the basis of 400 individual prices across 160 products and services.
The Economist Intelligence Unit released the 2018 Worldwide Cost of Living Survey which ranked cities on the basis of 400 individual prices across 160 products and services.
These products included food, clothing, household supplies, personal care items, rents, transport, utility bills, private schooling, domestic help and recreational costs.
Here's the list of the 10 most expensive cities in the world.
Rank 1 | Singapore | The city retained the top spot for the fifth consecutive year. One factor where the city was most expensive is the high costs of affording and running a car.
Rank 2 | Paris | France's capital has featured in the list since 2003, it jointly holds the second position with Zurich. The City of Lights moved up five spots compared to 2017 rankings.
Rank 3 | Zurich | The Swiss city was on third spot last year. Expensive categories in the city show that there is a greater premium on discretionary spending.
Rank 4 | Hong Kong | The city was ranked on the number two spot in 2017 and has fallen two places. It is one of the most expensive places to buy staple goods.
Rank 5 | Oslo | The city in Norway was previously ranked at the 11th spot. It jumped 6 spots in the current year's rankings.
Rank 6| Geneva | The city is one of priciest in the household, personal care, recreation and entertainment segments. It made an upward movement of one spot in comparison to 2017.
Rank 7 | Seoul | The South Korean city along with Singapore retained the previous ranking. It jointly held the sixth position with Geneva in 2017.
Rank 8 | Copenhagen | The Danish capital features on the list due to its relatively high transport, recreation and personal care costs. It moved up a spot compared to the previous ranking.
Rank 9 | Tel Aviv | The Israeli city took the 34th spot five years ago. Currency appreciation and relatively high transport costs propelled it city to the top 10.
Rank 10 | Sydney | The Australian city jumped 4 spots to complete the list of the most expensive cities in the world in 2018.
Ref: Property Report
