The Three Most Expensive Places to Live in the World
This year's top ten is largely split between Asia and Europe, with Singapore representing the only city that has maintained its ranking from the previous year.
Today, The Economist Intelligence Unit named those cities as the most expensive in the world. It’s the first time that three urban centers have shared the top spot.
Singapore, the city whose wealth got the Hollywood treatment in Crazy Rich Asians, maintained its number one ranking from last year. What makes it so costly, exactly?
According to a survey on the world's costlier cities, released on Monday by The Economist Intelligence Unit (EIU), Singapore, Paris and Hong Kong are top three most expensive places to live. The two most expensive U.S. cities come in the bottom half of the richest 10 urban areas, with New York (No. 7) edging out Los Angeles (No. 10). Both cities did move up more a few notches in the cost of living index, however, with New York going up six spots on the list and LA going up four.
The top 10 cities are divided between Asia and Europe. Singapore is the only city in the top 10 that has maintained its ranking from the previous year.
A stronger dollar last year meant that cities in the U.S. became more expensive for professional globe-trotters. Both New York and LA's climb in cost represent a sharp increase since 2013 when New York and Los Angeles were not even in the top 10. They were tied for 39th place.