It probably won’t come as a shock to learn that Sydney is among the world’s most expensive cities but another Australian capital has also made the list.
Can you guess which one?
Here’s a list of the 15 most expensive cities according to their cost of living index.
15. Stockholm, Sweden
Price Index: 204
A fast food meal in Stockholm will cost around $10. A meal in the business district will run around $14.
Rent in the expensive areas of Stockholm would cost around $2,690 a month.
14. The Hague, Netherlands
Price Index: 208
A meal in The Hague in the business district would cost around $23. A fast food meal would go for $9.
Rent in The Hague in an expensive area is around $1,928 a month.
13. Brisbane, Australia
Yes that was the second Australian city to hit the list, but wouldn’t have been my guess!
Price Index: 204
A fast food meal in Brisbane would cost around $8.
Rent in the expensive parts of Brisbane is around $2,097 a month.
12. Hong Kong, Hong Kong
Price Index: 214
A combo fast food meal in Hong Kong would cost a low $4.35. A more expensive dining experience would run around $14 per person.
Rent in the more expensive side of Hong Kong is a whopping $5,123 a month.
11. Sydney, Australia
Price Index: 215
An average fast food meal in Sydney would run you about $8 while bread for two, for one day would go for about $2.18.
Rent in Sydney for a high end apartment is about $2,792 a month.
10. Copenhagen, Denmark
Price Index: 217
A meal in Copenhagen in the business district would cost around $24. A fast food meal would go for $12.
Rent in Copenhagen in an expensive area is around $2,577 a month.
9. San Francisco, USA
Price Index: 218
San Francisco is also one of the more expensive cities to live in. A meal in San Francisco in the business district would cost around $15. A fast food meal would go for $7.
Rent in San Francisco in an expensive area is an impressive $3,844 a month.
8. Paris, France
Price Index: 219
If you are going for a cheap fast food meal in Paris, it’ll run you around $10. If you want to experience some French cuisine, a more expensive meal in the business district would cost around $22.
Rent in Paris in an expensive area is around $3,484 a month.[sam id=34 codes=’true’]
7. Singapore, Singapore
Price Index: 228
A combo fast food meal would not cost much in Singapore at $5.80. A more expensive meal in the business district would only run you about $10, but rent in Singapore in a more expensive area will go to about $3,885 a month.
6. Lausanne, Switzerland
Price Index: 233
A combo fast food meal in Lausanne would be about $14. A more expensive meal in the business district would go for about $21.
Rent in Lausanne for a high end apartment is about $3,238 a month.
5. New York City, USA
Price Index: 237
A combo fast food meal in New York City would cost around $8. A more expensive meal in the business district would go for about $18.
Rent in New York City for a high end apartment is about $4,111 a month, making NYC one of the most expensive cities for housing.
4. Zurich, Switzerland
Price Index: 256
A combo meal at a fast food restaurant in Zurich costs a whopping $14. A more expensive meal in the business district goes for around $31.
Rent in Zurich goes up to about $3,841 a month.
3. Geneva, Switzerland
Price Index: 259
An average meal at a fast food restaurant in Geneva will run you a steep $15.
Rent in a nice part of Geneva is about $3,857 a month.
2. Oslo, Norway
Price Index: 267
A combo fast food meal in Oslo would cost around $15, while a more expensive dining experience would run around $40 per person.
Rent in the more expensive side of Oslo is around $2,925 a month.
1. London, United Kingdom
Price Index: 280
Topping the list is the capital of the UK. A meal in London in the business district would cost around $22. A fast food meal would go for $9.
Rent in London in an expensive area is around $4,338.
Is Australian property really so expensive?
I guess the answer is yes it is. But that’s the price we pay for living in the best place in the world, with a stable political environment, a strong economy and sound banking system.
Of course this is compounded by the fact that most of us want to live in many of the same locations in our 4 big capital cities. And this is only going to get worse as our population grows by around 10% in the next 5 years.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.