Each year several surveys and reports rank the world’s most expensive cities, and while methods vary, many of the same cities appear repeatedly. Different rankings emphasize different factors — from expatriate living costs to domestic purchasing power — but together they give a clear picture of where living expenses are highest.
We reviewed the Economist Intelligence Unit’s Worldwide Cost of Living Survey, Mercer’s Cost of Living Survey and other sources such as the UBS Price and Earnings Survey to assemble this summary of 18 of the most expensive cities to live in worldwide. If you’re planning a move, consider not only rents and housing prices, but also groceries, clothing, utilities, transport and entertainment. Also factor in potential income: wages are often higher in expensive cities, which can help offset costs.
Singapore
In 2018, the EIU Worldwide Cost of Living Survey ranked Singapore as the most expensive city in the world for the fifth year running. Getty Images
Population: 5,791,901
Median home price: SG 22,309 (U.S. $16,412) per square meter
Average monthly rental price: SG $2,666.53 (U.S. $1,974) for a two-bedroom apartment
Average salary: SG $67,152 (U.S. $49,714)
The Economist Intelligence Unit ranked Singapore as the most expensive city in its 2018 Worldwide Cost of Living Survey, marking the fifth consecutive year at the top. High demand for accommodation and imported goods, driven in part by a large population of expensive foreign workers, contributes to Singapore’s elevated living costs. Mercer’s survey also ranked the city among the top global cost centers.
Paris, France
The majority of purchases and services, including entertainment, clothing and groceries, are more expensive in Paris than in any other EU city. Getty Images
Population: 2,241,346
Median home price: €9,070 (U.S. $10,574) per square meter
Average monthly rental price: €1,335 (U.S. $1,526) for a two-bedroom apartment
Average salary: €48,908 (U.S. $55,908)
Paris ranked second in the EIU survey and is widely regarded as the most expensive city in the European Union for everyday purchases and services, including clothing, entertainment and groceries. While some items such as local wine and tobacco can be cheaper than in other high-cost cities, the overall cost of living in Paris remains high.
Zurich, Switzerland
The Worldwide Cost of Living Survey and the Mercer Cost of Living survey found Zurich to be the world’s third most expensive city. Getty Images
Population: 402,762
Median home price: CHF 13,000 (U.S. $13,036) per square meter
Average monthly rental price: CHF 2,324 (U.S. $2,330) for a three-bedroom apartment
Average salary: CHF 103,296 (U.S. $103,298)
Zurich placed highly across multiple cost-of-living surveys, including both the EIU and Mercer lists. The UBS Price and Earnings Survey also ranks Zurich near the top when comparing wages and the cost of a typical shopping basket relative to other global cities, underlining Switzerland’s overall high price levels.
Hong Kong, China
Hong Kong is particularly expensive when it comes to housing. Getty Images
Population: 7,428,887
Median home price: HK $229,244 (U.S. $29,203) per square meter
Average monthly rental price: HK $29,342 (U.S. $3,737) for a two-bedroom apartment
Average salary: HK $374,569 (U.S. $47,742)
Mercer’s survey placed Hong Kong at the top for expatriate living costs, and the EIU also ranked it among the most expensive cities. Housing in Hong Kong is famously unaffordable: the city has consistently been identified as the least affordable housing market worldwide, driven by scarce land, high demand and a large expatriate population.
Tokyo, Japan
Taking into account hundreds of common expenses, such as clothes, food, entertainment and gas, Tokyo is a pretty pricey place to live. Getty Images
Population: 13,750,000
Median home price: JPY 64,870,000 (U.S. $603,000)
Average monthly rental price: JPY 190,348 (U.S. $1,740) for a two-bedroom apartment
Average salary: JPY 5,712,992 (U.S. $52,071)
Tokyo remains one of the most expensive cities when considering everyday expenses such as housing, food, transport and entertainment. While lower inflation and currency movements have affected its position in some rankings, Mercer still lists Tokyo near the top for expatriate costs.
Oslo, Norway
Despite being an oil-producing country, Norway has the highest gas prices in the world. Getty Images
Population: 545,000
Median home price: NOK 74,431 (U.S. $8,623) per square meter
Average monthly rental price: NOK 16,536 (U.S. $1,949) for a two-bedroom apartment
Average salary: NOK 654,027 (U.S. $75,756)
Oslo ranked fifth in the EIU survey. Despite Norway’s oil wealth, consumer prices — especially fuel — are among the highest globally. High wages, low unemployment and strong national resources contribute to overall prosperity, but they also support higher local prices.
Geneva, Switzerland
Housing is an average of $240 more expensive per month in Geneva than Zurich. Getty Images
Population: 198,979
Median home price: CHF 337,112 (U.S. $338,100)
Average monthly rental price: CHF 1,995 (U.S. $2,001) for a three-bedroom apartment
Average salary: CHF 109,295 (U.S. $100,881)
Geneva appears near the top of global cost rankings. Some surveys find it slightly more expensive than Zurich for certain categories such as food and housing, and overall Swiss price levels are high compared with most of Europe.
Seoul, South Korea
Seoul is particularly expensive for buying everyday food items, clothes and apparel – around 50 percent pricier than in New York City. Getty Images
Population: 10,290,000
Median home price: KRW 15,204,278 (U.S. $13,529) per square meter
Average monthly rental price: KRW 2,144,285.71 (U.S. $1,908) for a three-bedroom apartment
Average salary: KRW 53,835,001 (U.S. $48,639)
Seoul rose substantially in global rankings, reflecting higher prices for everyday items such as food, clothing and apparel. Strong currency value and import tariffs also contribute to elevated consumer prices compared with many Western cities.
Copenhagen, Denmark
In 2017, two liters of Coca-Cola was 141 percent more expensive in Copenhagen than in New York City. Getty Images
Population: 1,260,000
Median home price: DKK 45,808 (U.S. $6,952) per square meter
Average monthly rental price: DKK 12,061 (U.S. $1,848) for a two-bedroom apartment
Average salary: DKK 538,271 (U.S. $87,950)
Copenhagen ranks high for the cost of many consumer goods, including clothing and discretionary items. Examples highlight how everyday purchases can be significantly pricier than in other global cities, though Denmark also scores highly on wellbeing and quality-of-life measures.
Dubai, United Arab Emirates
Dubai has a huge foreign worker population, which is a clue that the cost of living will be high for expats. Getty Images
Population: 3,137,000
Median home price: AED 2,780,000 (U.S. $760,000)
Average monthly rental price: AED 6,562 (U.S. $1,787) for a two-bedroom apartment
Average salary: AED 137,752 (U.S. $37,509)
Dubai’s large expatriate community and high demand for international services drive up costs for many expats. Surveys that compare monthly living costs for families, including furnished accommodation and international school fees, often rank Dubai among the pricier global cities.
Buenos Aires, Argentina
The USB survey found Buenos Aires to be the most expensive place for millennials. Getty Images
Population: 2,891,000
Median home price: ARS 110,780 (U.S. $2,928) per square meter
Average monthly rental price: ARS 18,954 (U.S. $501) for a three-bedroom apartment
Average salary: ARS 292,791 (U.S. $7,642)
While Buenos Aires does not top general global cost-of-living lists, the UBS survey found it unusually expensive for millennial essentials — electronics, fashion and certain food items — making it costly for younger consumers in particular.
Tel Aviv, Israel
It’s particularly expensive to buy, insure and maintain a car in this coastal tech hub. Getty Images
Population: 432,892
Median home price: ILS 2,176,700 (U.S. $610,053)
Average monthly rental price: ILS 5,603 (U.S. $1,526)
Average salary: ILS 145,959 (U.S. $40,026)
Tel Aviv’s higher consumer costs are influenced by a strong local currency and rising consumer prices. Owning and maintaining a car is especially expensive, and alcohol prices are among the highest globally, pushing up everyday living expenses.
Sydney, Australia
In 2018, Sydney made the Worldwide Cost of Living Survey top 10 for the first time. Getty Images
Population: 5,131,326
Median home price: AU $1,100,000 (U.S. $792,215)
Average monthly rental price: AU $2,849 (U.S. $2,052) for a two-bedroom apartment
Average salary: AU $67,477 (U.S. $47,700)
Sydney entered the EIU top 10 in 2018. Housing affordability has been a long-standing issue, with prices far outpacing median household income, likely driven by supply constraints and strong demand.
Luanda, Angola
Angola’s high oil production results in a large community of foreign workers and expats who are willing to pay extremely high rents. Getty Images
Population: 2,487,000
Median home price: AOA 2,247,100 (U.S. $7,175.85) per square meter
Average monthly rental price: AOA 2,275,017 (U.S. $7,265) for a three-bedroom apartment
Average salary: AOA 6,396,945 (U.S. $20,428)
Luanda ranks among the world’s most expensive cities largely due to high demand from oil companies and expatriates. Rents and prices for goods and services aimed at international standards can be extraordinarily high relative to local incomes.
Shanghai, China
On the plus side, it’s still cheaper to live in Shanghai than in other Asian cities. Getty Images
Population: 24,180,000
Median home price: CNY 96,869 (U.S. $14,363) per square meter
Average monthly rental price: CNY 9,020 (U.S. $1,343) for a two-bedroom apartment
Average salary: CNY 308,262 (U.S. $45,382)
Shanghai is expensive by many measures and ranks highly on Mercer’s survey. However, it remains more affordable than some other major Asian hubs such as Hong Kong, Singapore and Tokyo for many everyday costs.
Beijing, China
Beijing placed ninth in the Mercer Cost of Living Survey. Getty Images
Population: 21,540,000
Median home price: CNY 4,020,000 (U.S. $598,436)
Average monthly rental price: CNY 4,960 (U.S. $724) for a one-bedroom apartment
Average salary: CNY 259,317 (U.S. $38,178)
Beijing appears among the top-ranked cities in Mercer’s list. Rising housing costs and high fees for international services such as schooling have pushed the city upward in global cost rankings.
Bern, Switzerland
The Swiss capital city came tenth in the Mercer Cost of Living Survey. Getty Images
Population: 142,656
Median home price: CHF 7,666 (U.S. $7,666) per square meter
Average monthly rental price: CHF 1,655 (U.S. $1,653) for a two-bedroom apartment
Average salary: CHF 89,791 (U.S. $89,461)
Bern’s placement in Mercer’s survey reinforces the broader pattern that Swiss cities consistently rank among the world’s most expensive places to live, reflecting high consumer prices across many categories.
N’Djamena, Chad
Like Luanda, N’Djamena’s high living costs are largely due to oil. Google Maps
Population: 721,081
Median home price: Not available
Average monthly rental price: XAF 1,378,000 (U.S. $2,400) for a three-bedroom apartment
Average net salary: XAF 1,200,000 (U.S. $2,064)
N’Djamena has repeatedly appeared among the most expensive cities in Mercer’s rankings. High costs in the capital are largely driven by oil-related expatriate demand and the premium prices paid by international organisations and companies operating in the city.
When evaluating where to live, remember that different surveys use different baskets of goods and currencies, so rankings can shift year to year. Always compare local prices, housing availability and potential earnings to form the most accurate picture of affordability for your situation.