These Are the 10 Most Expensive Cities in the World Right Now

These Are the 10 Most Expensive Cities in the World Right Now

The ranking comes from the 2018 Worldwide Cost of Living Survey, published by The Economist Intelligence Unit (EIU) on Thursday.

According to other key findings, Asian cities remain among both the most expensive and the cheapest cities in this year's survey.

The EIU survey found that a stronger euro had pushed up the relative cost of living in all of the euro area cities surveyed, and that non-eurozone cities were the priciest.

The EIU's findings showed that on average, the global cost of living had remained relatively static over the past year.

Hong Kong has a cost-of-living index of 111 this year, down from 114 one year ago, but still pricier than NY, the base city with an index of 100 used by the survey.

Previous year deflation and devaluations were prominent factors in determining the cost of living, with many cities moving down the ranking owing to currency weakness or falling local prices.

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Sydney rose four notches to break into the top 10, with Oslo, Geneva, Zurich and Copenhagen also climbing the list compiled from a survey of 160 items across 133 countries. NY fell to 13th due to the weakening of the USA dollar.

Though Asia is home to the world's most expensive places to live, it also has some of the most affordable. The report named NY and Los Angeles as the 13th and 14th costliest, down from ninth and 11th position a year ago.

Despite some perks to domestic life in Singapore - home help is cheap - the former British colony "remains the most expensive place in the world to buy and run a vehicle", EIU said. For categories such as personal care, household goods and domestic help Singapore remains significantly cheaper than its peers, but it remains the most expensive place in the world to buy and run a vehicle and the third-priciest destination in which to buy clothes.

"This has resulted in a move up the rankings for Dublin of six spots (to 19) since last year's ranking, even as consumer price inflation in Ireland remains low". However, the report noted that the city-state remains significantly cheaper than its peers in terms of household goods and hiring domestic help.

Within Asia, the best value for money has traditionally been offered by South Asian cities, particularly those in India and Pakistan. And the least expensive cities were Damascus, Caracas and Almaty.

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