Sydney Is Back Among The Top Ten Most Expensive Cities In The World

Posted by on Mar 23, 2018 in Community, News, Property, Uncategorized | No Comments

The Economist Worldwide Cost of Living survey that compares the relative cost of living across 133 cities sees Singapore retain its title as the world’s most expensive city for the fifth consecutive year. Top ten is largely dominated by major Asian and European cities, with Singapore, Hong Kong (4th), Sydney (10th) and Seoul (6th) competing with cities like Paris (2d), Zurich (3d), Oslo (5th) and Geneva (6th).


City 

Index (New York=100)

Rank

Rank movement

Singapore

116

1

0

Paris

112

2

5

Zurich

112

3

1

Hong Kong

111

4

-2

Oslo

107

5

6

Geneva

106

6

1

Seoul

106

6

0

Copenhagen

105

8

1

Tel Aviv

103

9

2

Sydney

102

10

4


Source: The Economist Intelligence Unit, 2018

Sydney has jumped 4 positions and after 6 years is back among the top ten most expensive cities in the world. Tokyo on the other hand, which was the world’s most expensive city until 2013, is out of the top ten due to the low inflation.

When looking at the most expensive cities by expenditure type, it is worth noting that Asian cities tend to be more expensive in terms of general grocery shopping, whereas European cities tend to be the priciest in the household, personal care, recreation and entertainment categories.

Besides being a centre for some of the worlds’ most expensive locations, Asia accommodates many of the world’s cheapest cities. Traditionally South Asian cities dominate the ten cheapest, however this year the Syria’s capital Damascus and Caracas in Venezuela occupy the bottom two places. Worryingly a growing number of locations are becoming cheaper as a consequence of political or economic instability. As such this means that the cheaper cities very often are prone to be less liveable.
For more information please see The Economist Intelligence Unit Worldwide Cost of Living Report 2018.