Life is expensive anywhere. That being said, some places are more costly than others. According to the Economist Intelligence Unit’s annual Worldwide Cost of Living, three cities are tied up when it comes to the most high-priced places to live. The survey has compared the cost across various categories, including food, drink, transport, rent, and utilities in more than 100 cities from all over the globe.
However, some of those cities are known for life quality and also offer good salaries, which makes it easier to pay the bills at the end of the month. Here are the most expensive cities to live in 2019.
10 Tel Aviv, Israel
Tel Aviv is the only city in the Middle East to ranked on the list. Just five years ago, it occupied the 28th position, but it seems that living there just gets more and more expensive.
According to the survey, the currency appreciation played a role in it. But also the high cost to buy and keep a car there. Transportation costs are 64 percent higher than in New York, for example.
On the other hand, the city was also ranked among one of the best cities to live.
9 New York, United States
New York is just as expensive as Copenhagen and is the only city in America to make the top ten. According to Smart Asset, NYC has one of the highest income taxes in the country. Besides that, renting a two bedroom apartment costs approximately $2,500. Other things that take a big bite of your paycheck if you live in New York are transportation, food, and leisure.
8 Copenhagen, Denmark
Copenhagen has ranked 8th on this list due to its high prices for public transportation, recreation, and personal care. It is by far the most expensive city to live in Denmark.
According to the details of the survey, Copenhagen was the only city of the top ten to register an increase in the bread cost. Entertainment, public transportation, and housing are also items that make life cost high there.
However, if you need to have a beer or buy clothes, the prices are fair if compared to other cities in Europe.
7 Seoul, South Korea
According to Numbeo, living in South Korea is almost 6 percent more expensive than in the United States in general.
Seoul that in 2014 ranked 50th on the ranking jumped to the 7th position. Tied up with Singapore the city has the highest prices for clothes and is also the most expensive to go grocery shopping. A loaf of bread, for example, costs US$ 14 while in Singapore it is possible to find it for US$ 3.54.
Other overpriced items in Seoul are gas and public transportation.
6 Osaka, Japan
Japan is one of the most expensive countries you can visit in Asia. If you decide to live there, the prices are even higher. One of the reasons is that the country is an island and it makes it more expensive to other countries have commercial relations with Japan.
Osaka is ranked 6th on this list and is the most expensive place to live in Japan. It took everyone by surprise since Tokyo has a reputation for its astronomical prices. Housing, transportation, entertainment ( cinema and theater, for example) and food have a higher rate in Osaka.
5 Geneva, Switzerland
Switzerland is the only country to have two cities in the top ten.
The cost of renting an apartment in the city is higher than in Paris and New York. According to Geneva Lunch, a family with four members would need at least a US$ 7 thousand income to live.
The prices for public transportation, food and clothing are also expensive, even compared to other cities in Europe. However, if you have a regular salary, you will make enough money to cover the cost of living. Still, it is expensive.
4 Zurich, Switzerland
Zurich, Zwitserland, is one of the most expensive cities in Europe. It has the highest cost for basic medicine, lunchtime menus, and taxis in the business district. The price to live there is higher than in London or Brussels.
However, there is also a bright side. Zurich is also known for its great city infrastructure and that at least makes you feel that the taxes you pay for living there are worth it.
It also remains very attractive to expats, since 24 percent of people living in the country are foreigners. Most of them choose Zurich as their new home.
3 Paris, France
Paris exudes romance and love. If you decide to live in la Ville Lumiere, it will also bring a lot of bills. The French capital is tied with Singapore and Hong Kong at first position on this list.
Besides housing, entertainment and clothing were considered particularly expensive in Paris. If compared to some other cities on this list; alcohol and tobacco are among the only products at a better price.
Although Paris always had a reputation for its high pricing life cost, it is the first time the city gets in the top of the list.
2 Hong Kong, China
Hong Kong ( China) is known for its breathtaking skyline, but the price to live there is also jaw-dropping and shares the top spot with Singapore and Paris.
According to the annual Demographia International Housing Affordability Survey, Hong Kong has the most expensive house market on earth. It is easy to understand the price if you think it is a case of supply and demand. Hong Kong is one of the most places in the world what makes space something precious.
Other every-day use items, like public transportation and food, are also expensive.
1 Singapore, Malaysia
If you thought New York would be on the top of this list, you might be surprised to see that the most expensive city in the world is far away from the American territory.
According to the Economist Intelligence Unit’s annual Worldwide Cost of Living report, the title belongs to Singapore. The increase of the living cost in the city is a reflex of the Malaysian economic power.
Before this position was occupied by Tokyo ( Japan), from 1992 until 2013, however, for the first time in the survey’s 30-year history, Singapore has to share the position with two other cities.