As time goes by, prices are getting higher and higher. For some cities, this has affected how expensive it is just to exist there.
However, a lot of these places are wealth oriented, which is why standards are also high. There are also some places that have been hit hard by unstable prices in real estate and commodities. Here are some of them.
This beautiful city in the far east has become a tourist favorite. Osaka is Japan’s cultural heritage city and has everything that you would like to see, such as cultural shows, cherry blossoms and more. You can also savor some of the best Japanese dishes at the local market. While this is paradise, it is also one of the most expensive places to live in.
A loaf of bread in this city would set you back by about $5.91. A bottle of local wine would cost you around $13.33. A liter of gas would cost about $1.18. Rent is also getting pretty expensive here. While quite pricey, this is still one of the most beautiful cities there is.
BORNEMOUTH & DORSET, UK
This area of Bornemouth & Dorset in the United Kingdom was labeled as a severely unaffordable market in some of the most recent surveys. In 2016, it had a median multiple, which is the median house price divided by a median household income, of 8.9. This is so expensive that it even beat out the United Kingdom’s largest market and capital, London. London also scored a severely unaffordable rating of 8.5 and has the world’s second worst housing bubble risk.
The UK’s exit from the European Union might have something to do with this. What is quite surprising is that the most expensive city to live in this region is not London.
Switzerland is the land of the Alps and lakes, as well as that of chocolates and luxury watches. This is one of the most beautiful and peaceful countries in the world and is actually one of the most expensive places to live in. This, however, might not be a big deal for its locals since many of them are rich, too.
The most expensive schools in the world are all housed in Switzerland. It also lives up to a culture of luxury, that almost everything that is made in this country has been associated with rich people.
Hong Kong has the least affordable housing in the world for the seventh year in a row now. While its median multiple was already pretty bad last year, it has gone to a new low this year. The average price of a loaf of bread in this city would is around $4.61, $15.72 for an average bottle of wine, and around $1.73 for a liter of gas. However, it is housing which has really made living in Hong Kong pretty hard.
This is why those who live here take up cramped spaces barely enough to fit a bed. These people share these tight spaces with somebody else and share their bathrooms and kitchens with more people.
It could be the smallest city in the world, but small has nothing to do with it if measured by how much you will be spending if you live in this Asian island. Singapore has been marked as the most expensive place in the world to live in for four consecutive years already. This marks a new trend for Asian cities. In 2017, some of the world’s most expensive cities to live in are in Asia. Although its orientation is wealth-oriented, Singapore is also a place of great deals. When it comes to household goods and groceries, Singapore is actually cheaper than other cities.
Singapore, however, is the most expensive place in the world to own a car and to buy clothing. An average bottle of wine in Singapore can set you back by $23.68, compared to New York’s $14.74.
A high cost of living in a city does not always mean luxury. There are a lot of factors that contribute to cost of living and that varies from city to city. What do you think of this list? Share with us your thoughts in the comments below!