Pattie's Blog: Where is the most expensive place to live?
Singapore is shown in this screenshot from Google Maps. (Google)
Published Tuesday, March 4, 2014 2:32PM EST
Last Updated Tuesday, March 4, 2014 2:34PM EST
Here's a list we don't want to be on the top of: The Economist ranks 131 cities on 400 different price indicators from basic groceries to the cost of heating.
The highest ranking Canadian city is Vancouver.. coming in at number 30. On top of the list? Singapore comes out as the costliest place to live in the world. New York just beat Vancouver to be the most expensive North American city.]
Rounding out the top five:
1. Singapore, Singapore
2. Paris, France
3. Oslo, Norway
4. Zurich, Switzerland
5. Sydney, Australia
So what made Singapore the most expensive? A strong currency, high cost of running a car, soaring utility bills and it is the most expensive city to buy clothes.
The top ten cities were mostly dominated by Asian and Australasian cities - mostly because of the high cost of groceries.
On the opposite end of the scale, due to the inequality between rich and poor ensured prices were kept low in India's major cities of Mumbai and New Delhi.
The ongoing crisis in Syria kept Damascas near the bottom due to the largest drop in prices and becoming the fourth cheapest city in the world.
This index likely won't dictate your next move, but it wouldn't hurt to take a look to know what you're in for before you make any big decisions.