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top 50 rankings for cost of living







Moscow is the world’s most expensive city for expatriates for the second consecutive year, according to the latest Cost of Living Survey from Mercer Human Resource Consulting. London is in second position, climbing three places since last year. Seoul moves down one place in the ranking to take third place, followed by Tokyo in fourth. Asuncion in Paraguay is the least expensive city for the fifth year running.




Mercer's annual Cost of Living Survey covers 143 cities across six continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment.* It is the world’s most comprehensive cost of living survey and is used to help multinational companies and governments determine compensation allowances for their expatriate employees.

Top 50 rankings
Europe, Middle East, Africa: Europe dominated the top 50, placing 30 cities on the list and capturing six of spots in the top ten. Strong currencies helped push most European cities higher for 2007.



Africa placed five cities in the top 50, with Douala, Cameroon on top with a rank of 24. Four of the African cities climbed in the rankings while Lagos, Nigeria dropped from 31 to 37.



Four cities in the Middle East were in the top 50 for 2007, lead by Tel Aviv, Israel in 17th place. Istanbul, Turkey took the biggest drop in the top 50, from 15th to 38th.



Asia: Eight Asian cities were on the top 50 list, led by Seoul, Korea in third place. The biggest mover was Taipei, Taiwan which dropped from 28th to 48th.



Americas: Only two US cities made the list (New York City at 15th and Los Angeles at 42nd) thanks to the weak US dollar. No Canadian or Latin American cities were in the top 50.



Australasia: Sydney was the lone representative in the top 50, placing 19th.



* Note that the Cost of Living Indicies contained in our press release and this related article have been prepared specifically for our press release and article. The indicies are based on Mercer's cost of living database and are modified to include housing and to reflect constant weighting and basket items. The results may differ from those calculated for Mercer's clients who use the results solely for the purpose of expatriate compensation. We do not recommend that expatriates use these figures to compare their own compensation packages.





Mercer Human Resource Consulting

Cost of Living Survey - Worldwide Ranking 2007

(including housing)



Top 50



Base City: New York, USA (=100)

Rankings

Cost of Living index

March 2007


http://www.mercerhr.com/referencecontent.jhtml?idContent=1095320











1 MOSCOW

Russia

134.4



2 LONDON

United Kingdom

126.3



3 SEOUL

South Korea

122.4



4 TOKYO

Japan

122.1



5 HONG KONG

Hong Kong

119.4



6 COPENHAGEN

Denmark

110.2



7 GENEVA

Switzerland

109.8



8 OSAKA

Japan

108.4



9 ZURICH

Switzerland

107.6



10 OSLO

Norway

105.8



11 MILAN

Italy

104.4



12 ST. PETERSBURG

Russia

103



13 PARIS

France

101.4



14 SINGAPORE

Singapore

100.4



15 NEW YORK CITY, NY

United States

100



16 DUBLIN

Ireland

99.6



17 TEL AVIV

Israel

97.7



18 ROME

Italy

97.6



19 VIENNA

Austria

96.9



20 BEIJING

China

95.9



21 SYDNEY

Australia

94.9



22 HELSINKI

Finland

93.3



23 STOCKHOLM

Sweden

93.1



24 DOUALA

Cameroon

92.9



25 AMSTERDAM

Netherlands

92.2



26 MADRID

Spain

92.1



26 SHANGHAI

China

92.1



28 KIEV

Ukraine

91.4



29 ATHENS

Greece

90.6



30 ALMATY

Kazakhstan

89.6



31 BARCELONA

Spain

89.2



31 BRATISLAVA

Slovak Republic

89.2



33 DAKAR

Senegal

89



34 DUBAI

United Arab Emirates

88.8



35 ABIDJAN

Cote d'Ivoire

88.3



36 GLASGOW

United Kingdom

88.1



37 LAGOS

Nigeria

88



38 ISTANBUL

Turkey

87.7



39 MUNICH

Germany

87.6



40 FRANKFURT

Germany

87.4



41 BIRMINGHAM

United Kingdom

87.2


42 LOS ANGELES, CA

United States

87.1



43 LUXEMBOURG

Luxembourg

87



44 BRUSSELS

Belgium

86.5



45 ABU DHABI

United Arab Emirates

85.9



45 BERLIN

Germany

85.9



45 DUSSELDORF

Germany

85.9



48 TAIPEI

Taiwan

85.8



49 PRAGUE

Czech Republic

85.6



50 ALGIERS
Algeria

85.1
 

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I love my life
Cuyi Lastrassi
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Surely, most have a high per capita income. Some (maybe the african ones) just have super-high inflation.
 

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Proud Torontonian
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1,421 Posts
I don't know how some of the african cities are so high when such a huge percent of the population is in severe poverty.
 

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Banned
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These lists are BS. I was in Milan recently, and everything (other than petrol) is much cheaper than it is in NY. Also, a friend moved there from NY and confirmed that the prices for housing are much cheaper than in NY.

Average rents in NY, which are a big factor in this survey, are artificially low since more than half of the rents in NY are regulated by the government. Most people can't find regulated apartments, because people who have them stay for life, and their children often inherit the right to stay. By contrast, free market rents are exorbitant. The article states that in Moscow, "luxury" 2 bedrooms average $4,000 per month, but one would be hard pressed to find a non-regulated 2 bedroom in NY for $4,000 /mo., and it would be hardly luxurious for that price.

Moreover, the dollar's precipitous, short-term drop against most major currencies also distorts these surveys.
 

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Proud Ukrainian
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2,188 Posts
These lists are BS. I was in Milan recently, and everything (other than petrol) is much cheaper than it is in NY. Also, a friend moved there from NY and confirmed that the prices for housing are much cheaper than in NY.

Average rents in NY, which are a big factor in this survey, are artificially low since more than half of the rents in NY are regulated by the government. Most people can't find regulated apartments, because people who have them stay for life, and their children often inherit the right to stay. By contrast, free market rents are exorbitant. The article states that in Moscow, "luxury" 2 bedrooms average $4,000 per month, but one would be hard pressed to find a non-regulated 2 bedroom in NY for $4,000 /mo., and it would be hardly luxurious for that price.

Moreover, the dollar's precipitous, short-term drop against most major currencies also distorts these surveys.
True, i don't trust them either, in London a single day travel card ca easily go over £10, which is arond $19... Also a price for a single beroom flat is atlest £150 000...
 

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Banned
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True, i don't trust them either, in London a single day travel card ca easily go over £10, which is arond $19... Also a price for a single beroom flat is atlest £150 000...
The cost for a studio in London is probably a lot more than £150 000. At the current distorted exchange rates, that's $300,000, and average one room apartments in Manhattan cost more than double that.
 

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Lord of Legoland
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10,895 Posts
The list is okay - but it'll never really tell the full story...

Sure you could spend millions here in Copenhagen ( 6th place on the list btw ) but you could just as well keep it under a grand...

I f.ex rent and my total monthly living expenses incl. food rarely excedes $1000 - so it certainly doesn't have to be expensive to live here..
 

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Resurrected
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25,446 Posts
These lists are always based on managers travelling to these cities or living in them as expatriots and their needs for flats and cars and restaurants etc is quite different than what the "true inhabitants" really pay. And McDonalds prices are not everything...
 

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ONE WORLD
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A 1 bed flat, with 3 rooms in total for living, in a deprived area of London (our block to be exact) sells for £340,000 ($670,000) as its only a km from the central zone. Anything actually within the central /congestion zone will be double, or triple that in the posh areas.

New CDs cost £15 but many big stores manage to cut them to £13. The cheapest meal out will be £6 no frills, a normal one about £15, no drinks or desserts. Rent costs about £200 a week for a one bed flat in the central zone.
 

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spaghetti polonaise
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Seems like Hamburg wasn't included at all in this research. Otherwise it would be ranked above Berlin.

And yes, this research regards only the needs of a "typical" manager lifestyle. Not representative for the whole population.
 

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1,273 Posts
These lists are BS. I was in Milan recently, and everything (other than petrol) is much cheaper than it is in NY. Also, a friend moved there from NY and confirmed that the prices for housing are much cheaper than in NY.

Average rents in NY, which are a big factor in this survey, are artificially low since more than half of the rents in NY are regulated by the government. Most people can't find regulated apartments, because people who have them stay for life, and their children often inherit the right to stay. By contrast, free market rents are exorbitant. The article states that in Moscow, "luxury" 2 bedrooms average $4,000 per month, but one would be hard pressed to find a non-regulated 2 bedroom in NY for $4,000 /mo., and it would be hardly luxurious for that price.

Moreover, the dollar's precipitous, short-term drop against most major currencies also distorts these surveys.
I have been to New York a few times and I have found it cheaper than Milan, I mean Milan rents in downtown have gone up to the sky:

ONE YEAR RENT IN MILAN CITY CENTRE

EG: FROM 4 ROOMS *3 bedrooms and a living room (160 SQM 47,000 EURO PER YEAR = ABOUT 63,450 DOLLARS PER YEAR OR 5287 DOLLARS PER MONTH)

TO 4 ROOMS *3 bedrooms and a living room(180 SQM 70,000 EURO PER YEAR = ABOUT 94,500 US DOLLARS PER YEAR OR 7875 US DOLLARS PER MONTH)

Brera 4 LOCALI
€ 47.000 160

vai!
BRERA 4 LOCALI
€ 47.400 155

vai!
PORTA MAGENTA 4 LOCALI
€ 55.000 140

vai!
CENTRO STORICO 5 LOCALI
€ 55.000 200

vai!
Quadrilatero 4 LOCALI
€ 70.000 180


SOURCE: http://www.tecnocasa.it/commerciale/txtsearch/searchi.jsp?conf=rf&orig=SitoTecnocasa-Aff http://www.tecnocasa.it

ITALIAN NATIONAL MOST FAMOUS REAL ESTATE (but also international - Spain, Mexico, Hungary...
 

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Seems like Hamburg wasn't included at all in this research. Otherwise it would be ranked above Berlin.

And yes, this research regards only the needs of a "typical" manager lifestyle. Not representative for the whole population.
Definately, I believe they did not take evrey major city into account.
HH ist allerdings viel teuerer als Berlin ;)
 
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