Looking to buy a house, but not sure where yet? Maybe you should skip these places right here. They tend to be a bit expensive. Or better yet, THE most expensive cities in the world according to the Wall Street Journal! Even though only published last year, it is subject to change depending on the city’s economic status.
8. New York, U.S.A
If you can make it here, you can make it anywhere.. as Frank Sinatra famously said. But is it really worth the high daily expenses? The cost of living in New York City is one of the highest in the world. But it is also possible to find value here. New York City is also considered as the most productive city in the world.
7. Shanghai, China
According to some economists the living in Shanghai is more costly than living in New York. Recently a wide strengthening increase took place on prices of daily goods. Together with the continuing high interest for accommodation with rental prices going skyrocket, it has increases the overall living expense.
Being one of the biggest cities in the world, Sidney, Australia has a reasonable high cost of living. It is a city for the world class, but when considering the quality and reasonable expenses in Sydney compared to the U.S, Sydney is a true paradise. Taxes might be high but the in total cost of living expenses, living in Sydney, Australia was less costly than USA and UK.
It is the fifth costliest city, situated in Europe’s most high-priced country. The city assets from both its natural and historically attained refinement and riches. Geneva’s economy is generally services oriented and considered to be the world’s most well-built economy.
4. Moscow, Russia
It is ranked as the fourth most expensive city in the world. Moscow is Russia’s capital city and it is situated in the European section of the country. Presently, there are more than 11 million people living in Moscow. The city stays to be the political and economic center in the country, and artistic life in Moscow exceeds more than the other Russian cities. And regarding its currency it’s safe to say it stays the same.
3. Osaka, Japan
This is the city in Japan where it is known for its food and night life, but immigrants who live there may not want to shell out for the cost of entertainments. The houses in Osaka is more costly because this city is surrounded with many establishments and many people are situated here it is also known as the city’s economic powerhouse. The city is ranked as the third most expensive city in the world.
2. Luanda, Angola
This might come as a surprise. An African country on the list. Luanda is one of the African cities considered to be the most expensive city to buy a property. The reason behind this is because of the limited supply of acceptable accommodation. And the cost of living here is ranking each year, including the cost of foreign goods, contributing too many regional cities moving up the ranking.
1. Tokyo, Japan
Drumroll please… Number 1 is, of course, Tokyo, Japan! According to business communities the most expensive city in the world to purchase a property is Tokyo. It is considered the most expensive and largest populous urban area in the world. The chart gauges the prices of some of the main staples of living, including housing, transportation, food, clothing and entertainment, things that can see maximum fluctuations every year based on taxes, tariffs and production changes.
This guest submission has been brought to you by Helen Dickerson of Aruba Real Estate. She likes to write about travel and places she’s been to.