Global Survey Names New York, Singapore Most Expensive Cities to Live In & More Trending News

 

A current examine on cities worldwide discovered that New York and Singapore have the best general value of dwelling. According to the Economist Intelligence Unit’s Worldwide Cost of Living report, the price of dwelling in 172 of the world’s most vital cities skyrocketed by a median of 8.1% over the course of the earlier 12 months. 

Several components drove this rise, together with the battle in Ukraine and supply-chain snarls.

Tel Aviv, which had beforehand held the primary spot in these rankings, fell to the quantity three spot, above Hong Kong and Los Angeles, which rounded out the highest 5 most costly cities.

The common value of dwelling improve throughout Asian cities was 4.5%, decrease than the worldwide common of 6.2%. However, country-by-country outcomes assorted owing to authorities insurance policies and charges. 

According to Upasana Dutt, head of worldwide value of dwelling at EIU, 

“The war in Ukraine, Western sanctions on Russia, and China’s zero-Covid policies have caused supply-chain problems that, combined with rising interest rates and exchange-rate shifts, have resulted in a cost-of-living crisis across the world. We can see the impact in this year’s index, with the average price rise across the 172 cities in our survey being the strongest we’ve seen in the 20 years, we have digital data.”

The survey, performed in August and September of this 12 months, compares greater than 400 particular person costs throughout over 200 completely different services in 172 completely different areas across the globe.

According to the rating system utilized in 2022, these are the world’s prime 10 most costly cities. Some of the cities are tied.

Singapore — 1

New York, US — 1

Tel Aviv, Israel — 3

Hong Kong, China — 4

Los Angeles, US — 4

Zurich, Switzerland — 6

Geneva, Switzerland — 7

San Francisco, US — 8

Paris, France — 9

Copenhagen, Denmark — 10

Sydney, Australia — 10

The following are some additional important findings from the examine: 

1. Due to the continued low-interest charges, Tokyo and Osaka fell farther down the rankings, dropping 24 and 33, respectively. 

2. The most cost-effective cities on the planet are Damascus, the town of Syria, and Tripoli, the capital of Libya. 

3. Due to Australia’s sturdy exports, Sydney has made its approach into the world’s prime 10 most costly cities. 

4. The metropolis of San Francisco moved to the eighth rank, up from twenty fourth the earlier 12 months. 

5. Shanghai broke into the highest 20 most costly cities on the planet, together with the opposite 5 most costly cities in China.

(For the newest trending tales, maintain studying Indiatimes)

Global Survey Names New York, Singapore Most Expensive Cities to Live In

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Global Survey Names New York, Singapore Most Expensive Cities to Live In

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