Tuesday, April 10, 2012

Top 10 Most Expensive Cities to Live In!

Where would you like to live? Have you ever thought of moving to a different city? I've thought of this many many times. I've travelled to Atlanta on a few occasions and seeing house prices for $70,000 and looking at house prices here in Toronto for $450,000, definitely makes me think about moving. By the way those prices are for detached single family homes. The price difference is just crazy! What's funny is my friends in Atlanta think $70,000 is expensive.

If you're thinking about relocating, check out the top 10 most expensive cities in the world to live in. The  Economist Intelligence Unit conducted a survey on which cities around the world have the highest cost of living? The study compared the cost of food, clothing, renting a home, transportation, and schooling.

Here's the list from least expensive to most expensive cities in the world:

10. Frankfurt, Germany
9.   Singapore
8.   Melbourne, Australia
7.   Sydney, Australia
6.   Paris, France
5.   Oslo, Norway
4.   Osaka Kobe, Japan
3.   Geneva, Switzerland
Both Osaka Kobe and Geneva were both tied at 3rd place 
2.   Tokyo, Japan
1.   Zurich, Switzerland

Are you surprised that Zurich and Tokyo are the most expensive cities to live in? Well according to the study "Both Japan and Switzerland have seen strong currency movements over the last few years which have made them relatively more expensive. This has become especially true of Switzerland in the last year, where investors looking for a haven currency outside the beleaguered Eurozone have invested heavily in the Swiss Franc, prompting an unprecedented move by the Swiss government to peg the Swiss Franc to the Europe to keep the currency competitive."

Japan is definitely on my list of countries to visit. I don't plan to ever move there, but it should be a fun visit.

Have you thought of living anywhere else in the world? If so, where and what made you choose that city besides cost of living?


James said...

I am shocked that New York City is not on that list. I would imagine it is very close to the top 10. Do you know where New York City ranks?

Anonymous said...

I am so surprised the City of Vancouver and New York City aren't on that list. There are more expensive places? That blows my mind. How can anyone afford to live there!

Shondell said...

@ James I was surprised not to see New York in the top 10 as well. The survey only lists the top 10 most expensive cities and top 10 least expensive cities. New York didn't make the list because prices have increased over the past few years in the areas listed above more than New York. Check out this link for more details.

Shondell said...

@ frugalfries I was thinking the same thing.