What are the most expensive cities in the world? Some cities, despite their high living expenses, attract numerous people from around the world. This blog will give you virtual travel across the top 10 most expensive cities in the world, including their ranking, features and charisma. Though the ranking list is affected by many factors, like the world economy and analytic methods, we still offer you objective and guiding information.
Most Expensive Cities in the World Overview
The following is an overview of the costliest city in the world, accoring to the statistics from Mercer, offering their rank, name, and country.
| Top 10 Most Expensive Cities in the World | ||
|---|---|---|
| Rank | City | Country |
| 1 | Hong Kong | China |
| 2 | Singapore | Singapore |
| 3 | Zurich | Switzerland |
| 4 | Geneva | Switzerland |
| 5 | Basel | Switzerland |
| 6 | Bern | Switzerland |
| 7 | New York City | United States |
| 8 | London | United Kingdom |
| 9 | Nassau | Bahamas |
| 10 | Los Angeles | United States |
More about Most Expensive Cities in the World
In this section, you can take a closer look at the costliest city in the world, and learn about what makes them so expensive, helping you create a better plan if you travel or live. All concrete numbers (monthly rent, monthly cost of living, buying an apartment) come from Numebo.
Hong Kong
Hong Kong, a special administrative region of China, ranks top among the most expensive cities in the world. With scarce land area and a significant population, it’s difficult for people to work or live at a low expense because property prices continuously increase due to the large demand. In addition, most of the daily supplies, like vegetables and fruit, are imported from mainland China or other areas, which also raises the living expenses. As one of the world’s economic hubs, it attracts a wealth of business professionals, labour workers, and international students, which also increases the demand. Besides, it boasts high-end luxury services and fabulous restaurants, raising the cost of living as well.
- Monthly rent: $2,151
- Monthly cost of living (excluding rent): $1,112
- Buying an apartment (per square meter): $26,006
Singapore
Singapore is a world costly city in terms of accommodation, transportation and food. It has a small and limited area, approximately two-thirds the size of Hong Kong. Property prices stand at an incredibly high level due to the housing policies and expensive property taxes. When it comes to foods and drinks, you need to know that 90% of the total are exported, whose prices are affected by global inflation and transport costs. Additionally, Singapore is home to high-quality education and medical treatment, but they also need high expenses. For example, some private schools cost more than $15,500 annually. If you’re unwilling to pay much, you can choose public transportation and snack stalls.
- Monthly rent: $3,138
- Monthly cost of living (excluding rent): $1,189
- Buying an apartment (per square meter): $22,617
Zurich
Zurich, the largest city in Switzerland, is among the top 10 costliest cities in the world. Its overall cost of living, regarding entertainment, food, and transportation, is higher than other European cities. Its house market features high demand and low supply, leading to pricy accommodations. In addition to paying for daily necessities, you need to pay garbage disposal and carbon tax. Compared with other Swiss cities, it’s less affordable, so, generally speaking, it’s a city with high income and decent welfare, which is suitable for those pursuing a stable and high-quality life.
- Monthly rent: $2,713
- Monthly cost of living (excluding rent): $1,809
- Buying an apartment (per square meter): $24,233
Geneva
Geneva, another Swiss city, is the most expensive place in the world. It, home to the United Nations Office in Geneva and the headquarters of WTO, as well as a beautiful scenery and a safe society, is like a magnet for foreign people. However, there is a shortage of housing because urban planning puts strict restraints on the establishment of new houses. Besides, there are premiums on foods and daily necessities, making them approximately 40%-60% higher than those in France. For example, if you want a 2-person meal in a common restaurant, you may even pay $145.
- Monthly rent: $2,319
- Monthly cost of living (excluding rent): $1,794
- Buying an apartment (per square meter): $19,905
Basel
Basel, a silent city in northwestern Switzerland on the River Rhine, is one of the top 10 expensive cities in the world. Though less famous than Zurich and Gerneva, it’s the third largest city in Switzerland. As a center for pharmaceuticals, life sciences, and chemicals, it’s home to many headquarters of multinational pharmaceutical companies, which attracts many professors and researchers, contributing to the competitiveness in living cost.
- Monthly rent: $2,005
- Monthly cost of living (excluding rent): $1,850
- Buying an apartment (per square meter): $14,435
Bern
Bern, the capital of Switzerland, is one of the world’s priciest cities. Many political and diplomatic institutions, like various embassies and Universal Postal Union, are located here, bringing lots of foreign officials and workers. Meanwhile, it has a limited supply of housing, as many areas are ranked as the cultural heritages of the United Nations. Besides, its cost of transportation is also higher than other Swiss cities as a result of many car-prohibited areas and high cost of car maintenance.
- Monthly rent: $1,885
- Monthly cost of living (excluding rent): $1,698
- Buying an apartment (per square meter): $14,471
New York City
New York City, the most populous city in the United States, is an expensive city in the world. Living in NYC means a high cost because everything requires more money than in other cities of the US, from Broadway to brunch. There is a significant imbalance between the supply and demand of houses and the highest rent in the US. According to the statistics in 2023, the vacancy rate of accommodations in NYC is only 1.4%. It’s abundant in high-salary industries, but the servers only get $15 to $25 per hour, causing a great gap between the rich and the poor.
- Monthly rent: $3,992
- Monthly cost of living (excluding rent): $1,696
- Buying an apartment (per square meter): $17,960
London
London, the capital and largest city in both England and the United Kingdom is among the most expensive cities. With a prominent imbalance between the supply and demand of the accommodations, its vacancy rate is only 1%. There’s also a serious shortage of accommodations: if they’d like to go to Council Housing, they have to wait for at least 5 years. The cost of education and medical treatment also contribute to becoming a costly city in the world: the annual tuition fees of private schools range from $25,000 to $67,000, while consultation fees exceed $270 per time.
- Monthly rent: $2,984
- Monthly cost of living (excluding rent): $1,407
- Buying an apartment (per square meter): $21,129
Nassau
Nassau, one of the most expensive places in the world, has a high cost of living, rivalling that of the cities of the US. As a small island nation, Nassau relies almost completely on imports, primarily from the United States, and shipping costs also drive prices higher. In addition, the thriving tourism industry further inflates local consumption levels. In terms of the housing market, short-term rentals exacerbate the local shortages, with vacancy rates consistently below 2%.
- Monthly rent: $1,862
- Monthly cost of living (excluding rent): $1,784
- Buying an apartment (per square meter): $4,190
Los Angeles
Los Angeles, the most populous city in the US state of California, is one of the most expensive cities in the world. It’s the center of entertainment, technology, and commerce around the globe. Its land area for exploitation is limited because it’s adjacent to the Pacific Ocean in the west, along with the San Gabriel Mountains in the east. Meanwhile, according to the zoning laws, high residences are banned, reducing their capacity to accommodate residents. It has the most congested traffic in the US. Can you believe the annual average time of commuters stuck in a traffic jam is nearly 119 hours? And there isn’t an all-around subway system in Los Angeles.
- Monthly rent: $2,602
- Monthly cost of living (excluding rent): $1,337
- Buying an apartment (per square meter): $7,700
Least Expensive City in the World
In addition to the most expensive cities in the world, we’ll also show you the list of the least costly cities in the world.
| 10 Least Expensive Cities in the World | ||
|---|---|---|
| Rank | City | Country |
| 1 | Damascus | Syria |
| 2 | Tehran | Iran |
| 3 | Tripoli | Libya |
| 4 | Karachi | Pakistan |
| 5 | Tashkent | Uzbekistan |
| 6 | Tunis | Tunisia |
| 7 | Lusaka | Zambia |
| 8 | Ahmedabad | India |
| 9 | Lagos | Nigeria |
| 10 | Chennai | India |
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Conclusion of Most Expensive Cities in the World
The most expensive cities in the world prove that high living costs often reflect unmatched opportunities, culture, and prestige. Despite the pricy necessities, numerous residents come to a costly city in the world to pursue their dreams and achieve their ambitions. After all, your life can be enriched by such extraordinary places.
FAQ of Most Expensive Cities in the World
What is the top 10 most expensive city in the world?
The following places are the costliest city in the world:
- Hong Kong
- Singapore
- Zurich
- Geneva
- Basel
- Bern
- New York City
- London
- Nassau
- Los Angeles
Is Toronto one of the most expensive cities in the world?
Yes, Toronto is one of the most expensive cities in the world. Toronto regularly ranks among the world’s most expensive cities, particularly for expats. While not topping the list, its soaring housing prices—especially for single-family homes—along with high rents and living costs consistently place it alongside other pricey global hubs.
What is the most unaffordable city in the world?
Hong Kong is the most unaffordable city. With scarce land area and a significant population, it’s difficult for people to work or live at a low expense because property prices continuously increase due to the large demand.
Is Vancouver the most expensive city in the world?
No, Vancouver isn’t the most expensive city in the world. While Vancouver ranks as one of North America’s priciest urban centers, global cost-of-living surveys consistently place it below international hubs like Hong Kong, Singapore, and Swiss cities such as Zurich and Geneva. Mercer’s annual rankings confirm that despite Vancouver’s high domestic costs, several world cities surpass it in overall expense.
Which country is the least affordable?
Global cost rankings reveal Switzerland, Singapore and Scandinavian nations as the priciest, while South Asia and North Africa—including Pakistan, Egypt and Bangladesh—offer the most affordable living conditions worldwide, according to recent surveys.
