If you choose city-living in a bustling metropolis, be prepared for some potentially sky-high costs. The amenities afforded are innumerable in a cosmopolitan city, but at what price? The latest report from the Economist Intelligence Unit on the most expensive cities to live in across the world is out, highlighting the places with the highest cost of living. We take an in-depth look at the most expensive cities to live in, as well as hearing about the experiences of some of our own members.
Singapore
Holding onto the top spot, Singapore continues to be the most expensive city in the world. A participant on one of our Expat.com forums made some estimates about the cost of living, noting that those living in the city will likely find most of their money going towards rent. A three-bedroom home in a good location will likely cost USD 2100-2800. If you have a child of school age, the cost of education at an international school may cost up to USD 2100 a month. The monthly cost of general expenses (such as food and transportation) with a no-frills lifestyle is estimated to be up to USD 570.
Hong Kong
Hong Kong is up from third to second place in this year's report and frequently appears at the top of various analyses regarding cost of living around the world. Our members contributed to a discussion about the cost of living in the city, providing us with a general outlook on just how pricey it can be. Rent for a two-bedroom apartment can vary between USD 1000 and USD 2300, while groceries might cost USD 400 for a small family. USD 130 is said to be sufficient for getting around during a working week, with simple options for dining out costing between USD 4-12. It would seem that rent is once again the predominant expense in a Hong Kong household, with the city being notorious for its extremely high population density. Comparatively, heading out for lunch during a workday can cost a reasonable USD 6, which is similar to other major cities that don't appear here.
Zurich
Switzerland is the home of two of top ten features – Zurich at number three and Geneva at seven. Expat.com member Matthias gave us some insight into life in the third most expensive city in the world, after spending the last six years in Zurich. He points out that, similar to the cities mentioned, high rent is the culprit in driving up the cost of living at a possible USD 2000 per month. However, he also points out that a night out can quickly amount to over USD 150 per person. If you decide that a casual evening pizza is more up your street, Matthias puts the price at between USD 20 and 25. As he had previously lived in Germany, he was able to offer up a comparison as to just how pricey Zurich really is, suggesting that things like groceries and leisure were half as much in Germany, while accommodation could be up to seventy percent less. Despite the cost of living, Matthias notes that he is better off in Zurich, where the higher income level (helped by comparatively lower income tax to Germany) negates the pricier lifestyle to some extent.
Tokyo and Osaka
Another double-feature in the rankings is on behalf of Japan, with Tokyo and Osaka at fourth and fifth, respectively. Expat.com member Manon has been living in Osaka for nearly six months following an internship in Tokyo. Originally from Troyes France, she considers Osaka to be notably cheaper than fourth place Tokyo, with the same income going considerably further in Osaka. She also highlights the fact that, while things like rent (USD 540), transport (USD 90 JPY) and groceries are quite expensive on a monthly basis, activities such as exhibitions are reasonably cheap, as is lunch (USD 6-9, on average).
