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Zurich remains the world’s most expensive city

Zurich is the most expensive city in the world, costing US$4,260 a month without even considering the sky-high rent.

The Swiss financial hub again topped a UBS study of the cost of living in 77 major cities, just ahead of Geneva, New York, and Oslo.

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A notoriously pricey place to shop, it had the most expensive services and appliances, and ranked second highest for groceries. 

Zurich is the most expensive city in the world, costing US$4,260 a month without even considering the sky-high rent

Surprisingly, Los Angeles residents had the best purchasing power on Earth with their high wages compensating for its 20th place price ranking

Surprisingly, Los Angeles residents had the best purchasing power on Earth with their high wages compensating for its 20th place price ranking

Many times cheaper was bottom-ranked Cairo and Lagos at just US$12,000-1,5000 a month, with Kiev the cheapest European city.

Most expensive places to live (without rent)

1. Zurich – US$4,260 a month

2. Geneva – $4,165

3. Oslo – $3,958

4. Copenhagen – $3,897 

5. New York – $3,673 

6. Tokyo – 3,654

7. Milan – $3,505

8. London – $3,411

9. Chicago – $3,405

10. Helsinki – $3,370 

Surprisingly, Los Angeles residents had the best purchasing power on Earth with their high wages compensating for its 20th place price ranking.

The average Angeleno was able to afford almost a quarter more than New Yorkers, who had the 10th most disposable income.

Zurich, despite being the most expensive city, ranked second thanks to high salaries and lower taxes compared to similar cities.

London was the eighth most expensive city and with only the 24th-highest wages its purchasing power languished at 23rd.

Sydney fared better at 11th for prices and 16th for earning giving its residents the 13th most purchasing power – despite its notoriously pricey real estate. 

Hong Kong unsurprisingly had the highest rent at almost US$4,000 a month, with New York on $US3,833 then a US$1,000 drop down to Paris in third.  

Cairo (pictured) and Lagos were the cheapest at just US$12,000-1,5000 a month, with Kiev the cheapest European city

Cairo (pictured) and Lagos were the cheapest at just US$12,000-1,5000 a month, with Kiev the cheapest European city

Gulf cities were the biggest climbers on the purchasing power list with oil money and an influx of expats driving up prices but also wages.

Doha jumped from 37th to 19th and Dubai from 27th to 14th, the second-highest in the Middle East, behind Manama in Bahrain in eighth.

The expats who live in Dubai, however, were paying a premium as it ranked as the third most expensive place to uproot your family to.

Geneva was the most expensive expat city with costs for a furnished apartment, language courses, international schools for children, and a cleaner piling up.

London was the eighth most expensive city and with only the 24th-highest wages its purchasing power languished at 23rd

London was the eighth most expensive city and with only the 24th-highest wages its purchasing power languished at 23rd

A couple looking for a Friday night out with a meal, bottle of wine and a movie pay the most in Tokyo, New York and Stockholm, while the best values were in Prague, Mexico City and Rio de Janeiro.

The price of coffee varied wildly around the world costing the most in Doha at US$6.40 and Copenhagen at US$6.24, and least in Lagos and Lisbon for less than 80c.

The study compared the prices of 128 goods and services and based its pricing calculations on the needs of an average three-person family.

To measure earning it took a weighted average of 15 jobs from doctors to teachers and builders and adjusted for average working hours in each city.



Read more at DailyMail.co.uk


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