More bad news for cash-strapped Londoners (ie. everyone who isn’t a banker or a Russian Oligarch). London is the most expensive city in the world in which to live and work, according to a new survey. If you add up the combined total of housing and office rental costs to the average Londoner, the total comes to a whopping £807,000 per year.
Conducted by estate agents Savills, the survey also found that London is 18 percent more expensive than it was half a decade ago, and for the third year running tops the list of most expensive world cities ahead of New York, Hong Kong, Paris and Tokyo.
Let’s all move to Rio – it’s only number 20 on the list, AND they've got the Olympics this year.
Want more depressing news? Rent in London is nearly three times more than in Berlin and Madrid.
Image: Darrell Godliman