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Most expensive cities to live and work in 2016

      Moving to a new country is one of the most expensive endeavours one can undertake.

      Consultancy firm Mercer initially developed the list to help multinational companies and governments determine wages and allowances for their expat workforce. Mercer’s survey analyses the price of over 200 goods and services in over 360 cities with substantial expat communities across the globe. Mercer uses New York as its base city and the US dollar as the base currency. The results differ from other surveys such as the Economist’s Worldwide Cost of Living as Mercer focuses specifically on products bought by expats.

       Cities in the US have climbed up the ranking due to the strength of the US dollar against other major currencies, in addition to the significant drop of cities in other regions. New York is up five places to 11th, the highest-ranked city in the region.

       Canadian cities continued to drop in this year’s ranking mainly due to the weak Canadian dollar. The country’s highest-ranked city, Vancouver (142), fell 23 places. In South America, Buenos Aires (41) ranked as the costliest city despite dropping 22 places from last year. San Juan in Puerto Rico (67) follows as the second most expensive location in the region, climbing 22 spots.

       Two European cities are among the top 10 most expensive cities for expats. At number three in the global ranking, Zurich remains the most costly European city, followed by Geneva (8), down three spots from last year.

       Despite dropping off the top spot on the global list, Luanda, Angola (2) remains the highest ranking city in Africa. Kinshasa (6) follows, rising seven places since 2015.

       This year, Hong Kong (1) emerged as the most expensive city for expats both in Asia and globally as a consequence of Luanda’s drop in the ranking due to the weakening of its local currency. Singapore (4) remained steady while Tokyo (5) climbed six places. Shanghai (7) and Beijing (10) follow.

      In London the annual accommodation cost is: $112,800. It has changed from previous year: 2%. London is expensive. Everyone knows this. But it's also pricey for employers -- the annual price tag for accommodating a worker in London is higher than in any other city, according to Savills. The real estate provider arrived at this ranking by examining residential and office rental costs in cities around the world.

       In New York the annual accommodation cost is: $111,300. Change from previous year: 5%.

       In Hong Kong the annual accommodation cost is: $103,200. Change from previous year: 3%.

      In Paris the annual accommodation cost is: $78,200. Change from previous year: -4%.

      In Tokyo the annual accommodation cost is: $69,800. Change from previous year: 0%.

      In San Francisco the annual accommodation cost is: $66,300. Change from previous year: 13%.

      In Lagos the Annual accommodation cost is: $63,000.

      In Singapore the annual accommodation cost is: $60,600. Change from previous year: -4%.

      In Dubai the annual accommodation cost is: $58,300. Change from previous year: 4%.

      In Sydney the annual accommodation cost is: $49,500. Change from previous year: 2%.

Projects from this area

Jameson House, Sunderland, UK

Jameson House is an exceptional opportunity to invest in an excellent development at the heart of the growing maritime city of Sunderland;

The development is ideally located for both students and young professionals in the city.

Sunderland is a thriving city with a lot of opportunities for its residents with 80 international companies, such as Nike and Nissan, having relocated to the city, catering to over 25,000 employees;

Sunderland city council is investing money in the city centre to breathe new life into the city. Redevelopment projects comprise a new 1.8million public square which was completed in 2015;

Jameson House, Sunderland provides purchasers with a 9% NET rental return (excluding ground rent), complete with a 3 year rental assurance*;

Each studio apartment comes with a furniture pack, offering a carefully selected range of contemporary designs, chosen specifically to complement the apartments within Jameson House.

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Crane Court, Huddersfield

Crane Court is a new purpose built student accommodation development, bringing 252

luxury studio apartments to the heavily undersupplied student accommodation market

in Huddersfield;

Crane Court provides purchasers with a 9% NET rental return, complete with a 5 year rental assurance*;

Their management service is designed to offer you peace of mind, making sure that all stages of the tenancy process are taken care of.

All of their staff hold National Federation of Property Professionals (NFOPP) qualifications and they are members of the Property Ombudsman.

Rent on Time’s Rental Insurance, underwritten by Europe’s second largest insurer, provides you with a safety net when it comes to recovering rent.

They work hard to make sure that your unit is occupied at all times, with properties advertised on the UK’s largest property websites including Rightmove, Zoopla and PrimeLocation.

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