8 most expensive cities in the world!

Which are the most expensive cities in the world? Based on which parameters can one evaluate it? If we

look around, we see expense rising and affecting every sphere of our lives – whether it is about booking a

movie ticket, meeting someone over a cup of coffee or taking bigger decisions like renting a home or

buying a commercial property. The rise in cost of living is quite evident across globe. However there are

few cities which have crossed all boundaries and have been labeled as the most expensive cities to live

in.

Let’s sneak peek into these cities and understand what contributes to the label they have gained over the

years. The parameters they are being measured upon ranges from transportation cost to entertainment

cost, food, clothing, and household goods and much more.

1) Monaco–The real estate markets have touched world’s peak in the city of Monaco both on purchase

and rental fronts with a purchase price amounting to USD 60,114 per sq.mt. This means that USD 1

million shall enable you to buy only 160 square feet of space which might leave you only buying a small

bedroom and supporting kitchen of your own while using other areas such as dining space and washroom

of your neighbor. Renting and food consumption index is also at the higher side making this city ultra-

expensive to live in.

2) New Delhi, India – It is the largest metropolitan area and a commercial center in India. With its growing

industries like real estate, power, telecom, etc, it is also attracting the wealthiest people here causing

immense hike in the prices of property and also attracting heavy rentals.

3) London, UK–If you are looking at purchasing a home in London, you better buckle up your shoes as a

sq. mt. of space is worth USD 34,531 here. Known as the favorite city of the rich, it has taken over Hong

Kong for its cost of living and is twice as costlier as Sydney. According to Savills, the property prices have

soared up by 18.4% in a year and has gained popularity as world’s most expensive city for companies to

locate employees with average per employee cost to live in and lease office space amounting at USD

1,20, 000.

4) Geneva, Switzerland–Cost for purchasing a square meter of property in Geneva stands at USD 15,265

which is relatively high compared to the most of the cities in the world. The cost of living Index is 118 with

a loaf of white bread amounting at USD 6.38 today as compared to USD 5.86 a year ago. A table wine

bottle shall cost you USD 8.39 while a litre of unleaded petrol can be purchased for USD 1.96.

5) Tokyo, Japan – Tokyo has secured second ranking in the skyscraper index with a square meter costing

USD 40,000. Entertainment also is suggested to be planned in advance for a movie ticket can cost you

USD 40 and the local restaurants shall also raise burden on your pockets. With the current cost of living

Index at 118, a loaf of bread shall cost USD 7.12, bottle of table wine cost USD 12.53 while you can buy a

litre of unleaded petrol at USD 1.73.

6) Mumbai, India- A square meter of property in Mumbai is worth USD 11,455 making it one amongst the

top ten expensive cities in the world to live in with prices soaring up by 133 percent over the last decade.

Due to space constraint, it also attracts expensive rentals, even for the non-furnished spaces. If you are

looking out for an entertainment filled weekend, start saving bucks in advance as the movie tickets and

dinner is going to fall heavy on your pockets.

7) Singapore – The current cost of living Index here is 130 with a loaf of bread, a litre of petrol and a bottle

of wine costing one USD 3.36, USD 1.73 and USD 25.04 respectively. Space is also very tight in this city

with a square meter of space costing you USD 15,251. You can expect paying a hefty rental of USD

3,709 per month for an unfurnished two bedroom apartment in Singapore. If you are planning to purchase

a car, our advice it to plan it well in advance as a mid-variant family car can cost you as much as USD

70,000.

8) Hong Kong, Hong Kong Islands – The third most expensive city in the world, a cup of coffee here costs

USD 6.64 Hong Kong ranks first in the skyscraper index with one of the top floors costing one USD

69,222 per sq. mt. Also if you are thinking of purchasing a property here, think twice as USD 1 million

shall enable you to but only a 20.6 sq.mt space with an average buying price amounting to USD 22,814. It

also ranks second in annual cost per employee amounting to USD 115,717.

Source: CNBC

About: Smart Homes Infrastructure (P) Ltd is a subsidiary of Smart Infrastructure Pte Ltd. Smart Homes is

a professionally managed young organization that specializes in affordable Group Housing and Town

Planning Projects in India and plans to build more than 100,000 homes in next decade. Smart Homes has

a Team that has over 100 man years of experience in development of apartments in group housing

projects and the team has the experience of selling more than 80 million square feet of housing projects

across India.