The world’s most expensive cities: A Savills Study

A recent study by Savills plc. has published a comprehensive list of the most expensive cities in the world. As an aspiring immigrant for study, investment, temporary relocation for work or travel, or permanent residency immigration, this list will help you prepare, comprehensively, towards financial planning for your upcoming travel.

London has been positioned the costliest city to live and work in, beating New York and Hong Kong to the top spot. An individual’s expenses in home and office rent in London averages out to £80,777, only in ahead of global cities; New York at £79,600 and Hong Kong at £73,800. However, London is more than twofold expensive that other English speaking urban communities like Sydney, Los Angeles and Chicago.

Here’s the list:

1. London
2. New York
3. Hong Kong
4. Paris
5. Tokyo
6. San Francisco
7. Lagos
8. Singapore
9. Dubai
10. Sydney
11. Miami
12. Los Angeles
13. Moscow
14. Chicago
15. Shanghai
16. Dublin
17. Mumbai
18. Berlin
19. Johannesburg
20. Rio de Janeiro

The total average expense of per worker accommodation, per year in the 20 urban communities measured from £40,641, going from £11,795 in Rio de Janeiro to £80,777 in London. The study takes into consideration the aggregate yearly cost of leasing both private and office convenience per individual in a portion of the world’s driving urban communities.

Yolande Barnes, the head of Savills World Research opines, “The highest ranking global cities, London and New York, are also the most expensive for businesses and workers to occupy… World cities can become a victim of their own success when rents rise to the point where affordability becomes an issue.”

Savills is a London based multi-national real estate services provider, offering a range of services like management, transaction services and specialist advisory to clients across the world.

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