A new Worldwide Cost of Living 2017 survey shows that there are a vast amount of cheapest and most expensive cities in the world for expats to live in, according to travel property news. The survey was completed by the Economic Intelligence Unit.
It highlights more than 400 individual prices of over 160 products and services: from food and drinks to clothing, household supplies, rentals and personal care items. All of these commodities affected the ranking of each city.
While Asia is profoundly known as having many expensive cities, it is also a place where we can find some of the cheapest cities too; including Chennai and Mumbai in India.
Many European places appear on the top 10 cheapest locations list, including Bucharest in Romania and Kiev in Ukraine.
So what are they?
- Almaty, Kazakhstan
- Lagos, Nigeria
- Bangalore, India
- Karachi, Pakistan
- Algiers, Algeria
- Chennai, India
- Mumbai, India
- Kiev, Ukraine
- Bucharest, Romania
- New Delhi, India
For a lot of these places, prices have been decreasing due to political and economic reasons. Oil prices have plummeted and currencies have been unreliable, especially in Almaty and Lagos.
As mentioned, the survey showcases the most expensive places with Singapore retaining the highest position followed by Hong Kong and Zurich in Switzerland.
It is clear from the list that Asia hosts half of the world’s 10 most expensive spots, with Japanese cities like Tokyo and Osaka creeping on the list.
So what are they?
- Singapore
- Hong Kong
- Zurich, Switzerland
- Tokyo, Japan
- Osaka, Japan
- Seoul, South Korea
- Geneva, Switzerland
- Paris, France
- New York, United States
- Copenhagen, Denmark
Many cities have moved up and down the list and that is primarily due to the weakening of the U.S. dollar (in the case of New York) or due to the cost of living.
Manchester and London used to be on the list, however, they moved down more than 15 spots.
Indeed the lists are open to variable changes and do change, according to the times and the current economic and political situation. It is useful to know which are the cheapest and most expensive cities for expats who are looking to move and commute to new locations. Equally, the list and information is useful travel property news and helps investors to plan their next big real estate investment move.
Written by Gemma Smith
