Take Your Pick! These Are The World's Most Expensive Cities To Live In
According to the Julius Baer¡¯s Global Wealth and Lifestyle Report 2022, Shanghai has been dubbed the most expensive place in the world to be rich, which shows that even the uber-wealthy aren¡¯t immune to inflationary pressures on their most prized luxury goods.
Everyone dreams of moving to a big city in a foreign land to live the life they want to. But the cost of living has only increased over the years. Paying for necessities like housing, power, water, groceries, clothing, and gas for your vehicle can add up. But in some countries, the cost of living is astronomical, making it a struggle for many individuals and families to make a living.
According to Julius Baer¡¯s Global Wealth and Lifestyle Report 2022, Shanghai has been dubbed the most expensive place in the world to be rich, which shows that even the uber-wealthy aren¡¯t immune to inflationary pressures on their most prized luxury goods.
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Swiss private bank Julius Baer¡¯s The Global Wealth and Lifestyle annual report is based on the price of a basket of luxury goods representing discretionary purchases by HNWIs individuals with $1 million or more in investable assets across the 25 global cities.
The world¡¯s most expensive cities are still largely in Asia, Shanghai again tops the rankings and the Americas remains the most affordable region, with not a single city in the top ten.
If you are thinking of relocating, then read through this list before you do, as you might be shocked to find out just how expensive some of the cities are.
Here¡¯s a list of the top most expensive cities to live in 2022
1. Shanghai
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Shanghai again tops the rankings and became the world's most expensive city around the world in 2022. Shanghai is the country's biggest city and a global financial hub.
2. London
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London, the capital of England and the United Kingdom ranked second among the world¡¯s most expensive cities ranking done by Julius Baer.
London was the only European outlier in the top five. The U.K. capital shot up six places this year amid rising residential property and hospitality prices.
3. Taipei
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Taiwan's capital Taipei was one of four Asia-Pacific cities to round out the top five most expensive locations for high- and ultra-high net worth individuals.
4. Hong Kong
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A city where skyscrapers meet centuries-old temples, Hong Kong is also known for its night markets filled with delights like dim sum and egg waffles. But there's so much more to this vibrant city.
This year, Hong Kong was listed as the fourth most expensive city to live in around the world, according to Julius Baer¡¯s global report.
5. Singapore
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Singapore is a small but prosperous island nation that has a lot to offer when it comes to quality of life and individual growth. Although a little red dot on the world map, the country is very conducive for families and raising kids in a happy and safe environment.
Singapore is fifth in the 2022 world¡¯s most expensive city to live in, according to a report.
6. Monaco
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Monaco is one of the most expensive cities in the world when it comes to real estate, according to Julius Baer¡¯s global report.
7. Zurich
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Zurich is an upmarket banking city and the financial capital of Switzerland. It, therefore, comes as no surprise that it's often labelled as the seventh most expensive city in the world.
Zurich is famous for luxurious lifestyles, high-end shopping, and fancy chocolates. However, despite its expense and extravagance, it is also ranked as one of the best cities to live in in the world.
8. Tokyo
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Japan¡¯s busy capital Tokyo ranked eighth in the world¡¯s most expensive city to live in 2022.
9. Sydney
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Sydney is the capital city of the state of New South Wales ranked ninth most expensive city in 2022.
10. Paris
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Paris is one of the most beautiful cities in the world. It is known worldwide for the Louvre Museum, Notre Dame cathedral, and the Eiffel tower. It has ranked tenth on this list.
11. New York
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The City That Never Sleeps, New York has to be one of the most famous cities in the world. Often referred to as the 'Big Apple', this vibrant city is known for its exclusive shops, flashy Broadway performances, and high-flying business tycoons, and it's a city that has long captivated people from all over the world. New York City is listed eleventh among the world's most expensive cities to live in in 2022.
24. Mumbai
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Mumbai remains the most expensive city in India and among the top 24th in the world, according to Julius Baer¡¯s Global Wealth and Lifestyle Report 2022 showed Wednesday.
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Anuj Tiwari writes stories for SEO and is a Youtube wizard. An engineer turned social media champ, he keeps a track of all that goes around the world. His interest areas include historic events, political and social-sciences.
