10 Very Expensive Cities in the World

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There are a lot of expensive cities in the world, but this article shows 10 most expensive cities. Regardless of how expensive this cities are, they offer a good standard of living and opportunities.

Expensive Cities in the World

However, the cost of living for these top cities dwellers has been in its most dramatic increase in five years, according to data released by the Economist Intelligence Unit (EIU).

And, according to the team’s economists, it may continue to rise in 2022. Also even as prices increase, people will still survive with their property including their goods and services.

The cost of living can take on new meaning with unemployment rates soaring throughout the world and many struggling to pay medical, housing, and other bills.

Notwithstanding, not all place in the world has a high cost of living, therefore, the cost of living has actually gone down in some parts of the world. Where people who can’t afford the high cost can go for the lower cost.

Most Expensive Cities in the World

According to the study by the Economist Intelligence Unit (EIU), the costliest place to live in the whole world is Tel Aviv!.

Following the Israeli city in joint second place were Paris (last year’s most expensive city) and Singapore, then Zurich in fourth and Hong Kong fifth.

Other famously pricey cities like New York, Copenhagen, and Geneva also made the top ten. Below is a list of the top ten most expensive cities to live in the world:

1. Tel Aviv

This is the world’s most expensive city. This sun-soaked city on Israel’s Mediterranean coast topped the EIU’s ranking for the first time, climbing from its spot at number five in 2020.

The city received a cost of living score of 106, due in large part to the strength of the Israeli shekel against the U.S. dollar. It also saw a noticeable increase in grocery and transport prices in 2021.

2. Paris

In addition to being home to the Eiffel Tower, the Louvre, and the sparkling Champs-Élysées, France’s iconic capital is also the world’s second most expensive city, with a cost of living rating of 104 (although Paris did drop from number one to number two in 2021).

3. Singapore

Singapore has long been heralded for its impeccably clean streets and buildings, but it turns out that living in what is likely the world’s most immaculate city comes at a price.

The metro is tied with Paris (score of 104), making it easily the most expensive city in Southeast Asia.

4. Zurich

It’s not shocking that the world’s center for banking and finance is also one of the world’s most expensive cities. With a mountain-bound location on Lake Zurich, the city is as expensive as it is beautiful, resulting in a cost of living rating of 103.

5. Hong Kong

Although Hong Kong is considered a Chinese “special administrative region,” the city was still evaluated alongside the world’s biggest (and most expensive) metros.

In addition to other factors, Hong Kong had the world’s most expensive gas prices in 2021, with an average cost of $2.50 per liter. The result was a 2021 cost of living rating of 101.

6. New York

Acting as the benchmark for the survey, New York City was given an index score of 100 and a number six ranking. The city has long held a spot on the list, due to the high price of everything from groceries to gas.

7. Geneva

Geneva is the second Swiss city to land a place on this top 10 list. The pricey metro with a 2021 cost of living rating of 99 sits near the French-Swiss border on the sprawling Lake Geneva.

In addition to being the headquarters for Europe’s United Nations and the Red Cross, the city is a banking hub.

8. Copenhagen City

This northern, water-bound city was given a score of 97 on the 2021 cost of living report.

And while the cost of food and housing may be high in Copenhagen, the city is filled with citizens who are more apt to hop on their bike than jump in their car, which you would assume would make petrol and transport prices slightly more doable.

9. Los Angeles

The cost of living may be high in this sprawling Southern California city, but for many beach lovers and aspiring actors, there’s no better place to be. Los Angeles came in at number nine, with a score of 96 — just four points below NYC.

10. Osaka

You might assume Tokyo would top Osaka when it comes to the cost of living, but according to the numbers, this Japanese city, which has a cost of living rating of 94, is a bit pricier than the country’s capital.

The cost of many goods and services may be sky-high in Osaka, but budget-conscious individuals can still nosh on the city’s iconic and fairly affordable street food.

What’s More!!

Inflation is the fastest recorded over the past five years. One city has been experiencing more rapid change than most, jumping from fifth place to first in this year’s Worldwide Cost of Living index released by the Economist Intelligence Unit (EIU).

The Israeli city of Tel Aviv topped the rankings for the first time, overtaking last year’s leader Paris, which is now tied in second place with Singapore.

The EIU attributes Tel Aviv’s sharp rise on the index to increases in grocery and transport prices and the strength of the Israeli shekel against the US dollar.

Frequently Asked Question About Most Expensive Cities in the World

1. Where is the Most Expensive Place to Live in San Francisco?

The priciest ZIP code in San Francisco is 94123 ranked 50th and dropped 10 spots from last year which includes the Marina District and Cow Hollow. The median home sale price was $2.3 million.

2. What is the Most Expensive City in the WORLD?

Inflation in Tel Aviv has soared during the pandemic, making it the world’s most expensive city. Inflation in Tel Aviv has soared as the pandemic, supply chain challenges and exchange rate shifts have pushed up prices.

3. What is the Most Expensive Place/Country to Live in?

Switzerland: Perhaps, coming as no surprise, Switzerland is one of the most expensive countries to live in. If you have ever journeyed there, then you can attest that it is pricey.

4. Where do the Richest People Live in Buenos Aires?

Together with some sections of the neighboring communities of Retiro and Palermo, Recoleta forms a part of the area known as Barrio Norte, Buenos Aires, a traditional residential zone for the city’s most affluent families, where a great portion of the cultural life of the city is concentrated.

5. How Did Tel Aviv Become the World’s Most Expensive City?

The 2021 Worldwide Cost of Living report states that Tel Aviv topped the rankings this year, mainly because the Israeli currency, the shekel, has appreciated, making local costs more expensive when translated into US-dollar terms.

6. Where in the World is the Most Expensive Place to Live?

The Israeli city of Tel Aviv topped the rankings for the first time, overtaking last year’s leader Paris, which is now tied in second place with Singapore.
The EIU attributes Tel Aviv’s sharp rise on the index to increases to grocery and transport prices and the strength of the Israeli shekel against the US dollar.

7. What is the Future of Real Estate Investment Post Pandemic?

High Tangible Asset Value; Property value will always increase over time, especially after the pandemic. So, it is safe to say that acquiring real estate properties now in preparation for the post-pandemic times is a good strategy and is a sure-fire beneficial for the investors.