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Some of the cities across the globe have broken all limits of spending with a very high rate of surviving. Despite the global slowdown, few of the European, African and Asian metropolis has not stopped to climb the leader of expense thus claiming themselves as the most expensive places to live in. Increasing rate of expatriate’s inflow, limited accommodation facilities, lack of raw materials etc has given a hike in the cost of living in these particular places. Scroll further into list of Top 10 Most Expensive Places to Live and get to know the factors behind the growing cost of survival.
9. Hong Kong
Want to know the most costly metropolitan round the world, surf through the details of the record of Top Ten Most Expensive Places to Live.
Tokyo is one of the most expensive places to live 2012 according to recent research. Though the city’s cost of renting is almost the same, the rates of other items have shoot up. As Japan’s most important economic hub, Tokyo is the most desirable place to live in but high rates such as $8.29 for a cup of coffee, $7.34 for one gallon of gasoline or $8.29 for fast food meals makes the city a bit unaffordable for many people.
Luanda, the capital city of Angola, Africa’s largest oil producing country stands second this year in the list of top 10 most expensive places to live, 2012. Perched on a curve on the coastline of obscure South-West Africa, the city’s has maintained on this list due to its gory civil war that racked the country since its independence in 1975 until 2002. Here, to rent two luxury bedrooms it will cost $6,500 per months or $5.46 to get an International newspaper.
The second largest city in Japan, Osaka has become even more expensive in 2012 and has climbed up to third position compared to its previous years. The main reason behind it being so expensive is its dense population contrast to its limited accommodation facilities. According to a survey, around 1.1 million people commute daily into the city during the day. Here two comfy bedrooms will come up for $3,062 while one gallon of gasoline will make you pay $6.85.
Globally, the fourth most costly city is one of the most expensive places to live in for expatriates in whole of Europe. The rising cost of renting property is the most substantial increase in living costs for 2012 where double lavish bedrooms are rented for $4,200. Daily issues such as power outages and safety measures also increase the cost of living for outsides.
Aside from Tokyo, Geneva has the highest food costs, with monthly food spending at $715 compared to a global average of $424 and is the only Western Europe country to make to the top 10 list. The current apartment rate is around $4,818 which is nearly $300 more than the previous years. The metropolis is home to 20 international organizations due to which over 40% of the population are made up of foreigners. More over the Swiss franc’s appreciation has raised the cost of living for deportees.
Another name which grabs the attention of top ten most expensive places to live, 2012 is none other than Switzerland’s capital city, Zurich. Swiss franc over the past years has made the goods more expensive than many other cities over the globe. Refugees are attracted towards Zurich’s high quality of life but to make lavish accommodation one needs to pay around $3,614 per month or $12.59 on fast food.
Singapore, like other Asian monetary hubs, has seen a big inflow of emigrants, which has pushed up the cost of housing and other living costs. The city has become much more costly than the preceding years as in 2010 it was in the eleventh position and in 2011 it was in eighth place while this year it has reached the seventh position. While transportation is quite affordable, on the other hand housing, private schooling and maintaining an automobile can make a hole in your pocket with monthly rent as $3,588 for just two bedrooms.
The key reason behind the high cost of living in N’Djamena, the capital and financial center of the central African country of Chad is the difficulty in finding appropriate and safe accommodations for expatriates, making the few obtainable places extremely expensive. The arrival of expats working in Chad’s oil industry has pushed up the cost of living, with a fast-food meal costing as much as $25 or a cup of coffee at $3.32.
The cost of living in Hong Kong is notably high compared to several other Asian regions and the metropolis in the only Chinese city to fall into this category. Everything in Hong Kong can be expensive from apartment rentals to leisure expenses to basic commodities. Food and beverages in Hong Kong are also high-priced since almost all materials and raw ingredients come from Mainland China and other nations. Moreover the city relies heavily on imported goods and products for daily consumption of citizens.
The list of top 10 most expansive places to live, 2012 won’t be complete without mentioning the Japanese city, Nagoya. It is the hub for most of the Japanese manufacturers, especially automobile and aircraft parts including Toyota and Honda which invites many outsides to settle in the city eventually rising the cost of living. The fourth populous Japanese city can cost one $19 for lunch in a restaurant, $9.14 for 1kg of rice or $2,551 as monthly rent of the apartment.