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How Expensive Is Your City? These Are The World’s Most Costly

Paris joins Hong Kong and Singapore as joint leader for the world’s most expensive city to live in

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New research conducted by the Economist’s Intelligence Unit (EIU) placed Paris in the top spot, along with Hong Kong and Zurich, as the most expensive city in the world to live in.

The report ranked 133 countries around the world, comparing over 400 individual prices for things people need and buy in their everyday lives covering 138 different products such as rents, mortgages, food, drink, utility bills, clothing and schooling.

Last year, Hong Kong won top spot with Osaka and Singapore, but the latter two are now in fourth and fifth place respectively. The reason for this change is due to currency changes caused by Covid-19. The report stated that “by September 2020, when our survey was taken, currencies were weakest in the Americas and strongest in Western Europe.”

Paris is known for being an expensive place to rent or buy property. As reported by The Local, the average price per square meter is over €10,500 ($12,423). However, The Local was skeptical of some of the methodology in that the EIU study priced 1 kilo of bread at $6.10 (€5.13) in Paris, while it believes the figure in most average boulangeries (bakeries) to be about $3.22 (€2.72). The price of a baguette across France is normally around the €1 mark ($1.18).

Zurich took top spot with Hong Kong and Paris

getty Zurich – rank 1 (+4) Paris – rank 1 (+4) Hong Kong – rank 1 (0) Singapore – rank 4 (-3) Tel Aviv – rank 5 (+2) Osaka – rank 5 (-4) Geneva – rank 7 (+3) New York – rank 7 (-3) Copenhagen

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