The SAR is the priciest place to live in the world for the third year running, according to an annual report by ECA International. New York, Geneva, London and Tokyo follow, while Singapore lands on the 13th spot
Hong Kong is the most expensive city in the world to live in for the third year running, according to an annual report by global mobility company ECA International.
The company calculates the index based on factors such as the average price of household staples, rent, utilities, public transport as well as the strength of the local currency.
See also: The Most Exclusive Residential Neighbourhoods In Hong Kong—And The Properties You Can Expect To Find
For comparison, the average price of coffee at a cafe in Hong Kong is US$5.21, while the same costs US$3.30 in Sydney. There is also a large disparity in the price of petrol between cities—in Hong Kong, a litre of petrol, on average, costs US$3.04. In New York, the second most expensive city in the world, it costs an average of US$1.24 per litre.
Other Asian cities such as Shanghai, Tokyo, Guangzhou and Seoul have also made it into the top ten.
The ten most expensive cities in the world, according to the report:
1. Hong Kong
2. New York
3. Geneva
4. London
5. Tokyo
6. Tel Aviv
7. Zurich
8. Shanghai
9. Guangzhou
10. Seoul
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