London is the most expensive city in the world due to the UK capital’s high cost of renting accommodation. If rents are excluded, Oslo, Copenhagen, Tokyo and Zurich are among the most costly cities in the world. In terms of living costs, Oslo remains the most expensive of the 71 cities surveyed, now followed by Copenhagen, Tokyo, Zurich and London. A basket of goods and services assembled in line with western European consumer habits (excluding rents) costs 15.5 per cent more in Oslo than it does in Zurich – over two-thirds more than the global average. If we include rents in the comparison, the differences from city to city are even more pronounced. The most expensive places to live in this respect are London, Oslo and New York. There have been some significant shifts in the top places since the 2003 edition: Copenhagen has gone from sixth to second-most expensive city, while Hong Kong has fallen from second spot and no longer ranks among the world’s most expensive cities. Our basket is still cheapest in Mumbai, Karachi, Buenos Aires and the eastern European cities of Kiev, Bucharest and Sofia. The cost in these cities is a third or less of the price in Zurich.

Rank
Cities
Index
(incl rents)
1
London
122.4
2
Oslo
109.4
3
New York
105.0
4
Tokyo
104.6
5
Copenhagen
104.1
6
Hong Kong
100.6
7
Zurich
100.0
8
Paris
99.3
9
Chicago
99.1
10
Geneva
98.2
11
Dublin
97.5
12
Stockholm
95.2
13
Basel
92.8
14
Helsinki
91.8
15
Vienna
90.8
16
Lugano
90.3
17
Milan
89.5
18
Istanbul
89.4
19
Amsterdam
86.4
20
Rome
86.2
21
Nicosia
85.7
22
Frankfurt
82.6
23
Luxembourg
81.0
24
Brussels
80.9
25
Athens
79.1
26
Sydney
77.9
27
Seoul
77.7
28
Los Angeles
76.8
29
Taipei
76.6
30
Berlin
76.2
31
Lisbon
74.5
32
Toronto
74.3
33
Madrid
73.9
34
Auckland
71.7
35
Singapore
71.2
36
Barcelona
67.7
37
Montreal
66.7
38
Moscow
66.2
39
Tel Aviv
65.4
40
Miami
65.3
41
Budapest
65.3
42
Dubai
65.3
43
Ljubljana
64.6
44
Shanghai
63.5
45
Johannesburg
62.7
46
Caracas
60.8
47
Manama
58.2
48
Warsaw
55.5
49
Lagos
55.3
50
Jakarta
55.0
51
Mexico City
54.9
52
Tallinn
52.7
53
São Paulo
51.8
54
Bratislava
49.9
55
Vilnius
48.2
56
Nairobi
47.6
57
Rio de Janeiro
46.0
58
Santiago de Chile
45.8
59
Prague
45.2
60
Bangkok
41.9
61
Bogotá
38.8
62
Riga
37.7
63
Manila
37.5
64
Kuala Lumpur
36.5
65
Sofia
36.4
66
Lima
32.7
67
Kiev
32.7
68
Bucharest
32.2
69
Karachi
29.1
70
Buenos Aires
27.8
71
Mumbai
27.8
 
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