Ever wondered where the most expensive cities to live in the world are? Open Access Government looks into price comparisons of basic goods and utilities in 5 of the priciest cities around the globe
Statistics vary but generally, Hong Kong, New York, Geneva, London and Tokyo are considered some of the most expensive cities to live in the world.
With the cost of living rocketing, it is more important than ever to know exactly how much things cost. Open Access Government compares the prices of basic goods and necessities – such as rent, bills and food items – in five of the most expensive cities in the world to give you an idea of how much you can expect to pay to live there. We also factor in the average wage of a person living there for better means of comparison.
1. Hong Kong is the most expensive city to live in the world
Owing to its mammoth population size of 7 million people and finite spice, rent and hotels are extremely expensive. The price of food varies – depending on whether you buy fresh, imported produce versus local, market produce. Alcohol is also notoriously high priced. Transport, on the other hand, is cheap.
- 1 kilo of tomatoes costs £2.44.
- A loaf of fresh white bread costs £1.88.
- A regular cappuccino costs £4.13.
- One pair of Levi’s jeans costs £66.39.
- A one-bedroom apartment in the city centre costs £1,835.69.
- Basic bills (electricity, heating, cooling, water, garbage) for 85m2 apartment costs £157.79.
- The average monthly net salary (after tax) is £2,538.80.
2. New York is the priciest city in America
It is perhaps no surprise that New York is one of the most expensive places to live in the world. In fact, the price of accommodation has risen by 12% in the past year. About two-thirds of New Yorkers rent, and renters in all five boroughs spend more than 30% of their income on housing costs. New York residents also spend more on grocery shopping than residents in any other US city.
- 1 kilo of tomatoes costs £5.02.
- A loaf of fresh white bread costs £3.31.
- A regular cappuccino costs £4.24.
- One pair of Levi’s jeans costs £51.52.
- A one-bedroom apartment in the city centre costs £2,877.46.
- Basic bills (electricity, heating, cooling, water, garbage) for 85m2 apartment costs £134.07.
- The average monthly net salary (after tax) is £5,257.98.
3. Geneva is the most expensive city in Europe
Geneva is considered to be extremely beautiful and has one of the highest life qualities of anywhere in the world. This idyllic living comes at a cost so be prepared for high prices when it comes to rent, food, and transportation.
- 1 kilo of tomatoes costs £2.71.
- A loaf of fresh white bread costs £2.25.
- A regular cappuccino costs £3.70.
- One pair of Levi’s jeans costs £87.01.
- A one-bedroom apartment in the city centre costs £1,754.12.
- Basic bills (electricity, heating, cooling, water, garbage) for 85m2 apartment costs £148.89.
- The average monthly net salary (after tax) is £5,331.49.
4. London has the highest cost of living of any UK city
London prices for rent and public transport are some of the most astronomical in the world. It is not uncommon for Londoners to spend more than half of their salary on accommodation.
- 1 kilo of tomatoes costs £2.40.
- A loaf of fresh white bread costs £1.21.
- A regular cappuccino costs £3.23.
- One pair of Levi’s jeans costs £77.17.
- A one-bedroom apartment in the city centre costs £1,787.69.
- Basic bills (electricity, heating, cooling, water, garbage) for 85m2 apartment costs £241.19.
- The average monthly net salary (after tax) is £2,538.80.
5. Tokyo is another expensive Asian city
Japan is well-known for being an expensive price to live in, and so with Tokyo as its capital city is it not surprising that the bustling city has a very high cost of living. Rent, car ownership and transport are especially expensive.
- 1 kilo of tomatoes costs £4.36.
- A loaf of fresh white bread costs £1.37.
- A regular cappuccino costs £2.90.
- One pair of Levi’s jeans cost £66.39.
- A one-bedroom apartment in the city centre costs £943.73.
- Basic bills (electricity, heating, cooling, water, garbage) for an 85m2 apartment costs £144.19.
- The average monthly net salary (after tax) is £2,268.11.
All statistics have been taken from Numbeo and were accurate on the date of publication.
