Who hasn’t fantasized about living in one of the world’s most beautiful cities? However, not only is the beauty of these cities breathtaking but so is the cost of living. We’re going to tell you about some of the world’s most costly cities today.
Shanghai is the largest city in China and the global financial center. It tops the list of most expensive cities in the world for rich people to live in. Rising prices of luxury items and rising inflation have affected the lifestyle here.
London, the United Kingdom’s capital, is only second to Tokyo in terms of population. It is the second most expensive city in the world to live in for wealthy individuals. The high rates of luxury items like designer handbags, shoes, and watches have made it an expensive city for the wealthy living in the cities of London.
The capital of Taiwan, Taipei, is ranked third on this list. The Bloomberg report said that the findings suggest that even the wealthy are not protected from inflation. According to the Julius Baer report, the financial condition of high net worth individuals here has improved as compared to the previous year. The cost of goods and services has gone up.
Hong Kong is ranked fourth. It is only ranked here after considering the cost of a home, a car, airfare, a business school, and other luxuries.
Singapore is ranked fifth on the list of the world’s most expensive cities for wealthy individuals to live in. Globally, the price of tech items like laptops and smartphones increased the most by 41%, the Bloomberg report said. Work from home culture and global chip shortage has given rise to such growth.
This European city ranks sixth. The city’s findings came after analyzing the prices of nearly 20 goods and services, the Bloomberg report said.
Zurich, Switzerland’s popular tourist destination, is in seventh place. The report said the data was collected in two rounds between November and April.
Tokyo, the capital of Japan, ranks eighth on the list of the world’s most expensive cities for the rich to live in. This bustling metropolis is a crossroads of modern and traditional lifestyles.
Australia’s Sydney is at number nine. The Russian capital, Moscow, has been removed from the list, according to the article.
The capital of France is ranked 10th. Because of global uncertainties, the corona pandemic, growing inflation, and escalating geopolitical tensions, the people’s purchasing power has increased.
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