Get us in your inbox


London is the fifth most expensive city in the world to live in

Isabelle Aron

Sure, London is expensive, but is it really one of the most expensive places in the entire world? Er, yes, actually it is. London is the fifth most expensive city on the planet, according to a study from UBS Wealth Management. Still, it could be worse - you could live in New York, which is the priciest place to live in the world, followed by Zurich, Geneva and Oslo. The 2015 Prices and Earnings report looked at gross incomes and compared the prices of 122 goods and services across 71 cities around the world and found that although London was in the top five most expensive cities, it was only thirteenth for gross earnings. No wonder your bank balance is looking so bleak.

The report also looked at specific items and found that Londoners would have to work 41.2 hours to buy an iPhone 6, while in Zurich it would take less than half that time. But hey, it's not all bad news - you'd only have to work 12 minutes to be able to afford a Big Mac, which isn't depressing at all. Oh, and speaking of depressing news, property website Rightmove has predicted that the average house price in London could rise to £1 million by 2020. Looks like we better start saving and stop squandering all our wages on those damn Big Macs.

Want to cheer yourself up? Check out this life-sized version of a London Underground station made of wood

Or drown your sorrows at one of London's top pubs.

Popular on Time Out

    Latest news

      Read next