According to a new study, the list of the world’s most expensive cities is finally out. No guesses here that Hong Kong stands as the most expensive city in the world, for the second year in a row! This is due to higher prices and a powerful currency keeping this Asian city above the likes of New York and Geneva which took second and third place, respectively. Moreover, the strength of the Hong Kong dollar has remained unchanged unlike other currencies worldwide.

Which are the Top 10 Expensive Cities in the World?

ECA International carried out this study in early March this year to finalise which cities in the world were expensive for expats. London soared to the top 5, and one of the reasons for both London and New York to be so up high on the list is due to rising rent prices. Let’s be real, living in these cities can definitely make your pockets empty.

So which other cities can you stay in?

If you’re looking for houses in the world’s most expensive cities, here’s the top 10 list.

1. Hong Kong
2. New York
3. Geneva
4. London
5. Tokyo
6. Tel Aviv
7. Zurich
8. Shanghai
9. Guangzhou
10. Seoul

How did ECA International come up with this verdict?

Keeping its March 2021 findings in parenthesis, ECA International looked at the cost of consumer goods and deliverables across 490 cities across the globe. This is done in addition to checking rental costs for most expatriates who inhabited the places earlier. All in all, the latest reports ranked 207 cities out of 120 countries in the world.

Some of the other cities which have been ranked in the top 20 list of being the most expensive across the globe include,

1. San Francisco
2. Shenzhen
3. Singapore
4. Beijing
5. Jerusalem
6. Bern
7. Yokohama
8. Copenhagen
9. Oslo
10. Taipei

Source: Bloomberg