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Forking out a small fortune for rent each month and paying more than you ever thought possible for a pint can sure make London feel like the most expensive city in the world. But apparently it’s not even in the top 20.
London has plummeted down a list of the world’s priciest cities to live in, making it the cheapest it’s been for two decades. That’s according to the Economist Intelligence Unit, which ranked London as the 24th most expensive city in the world – down 18 places from last year.
Experts are putting the drop down to, you guessed it, Brexit and the fall in the value of the pound that followed the EU referendum last year. According to the list, London is now 17 percent cheaper than Paris, and residing here is cheaper than the cost of living in New York for the first time in 15 years.
Asian cities dominated the top spots this year, with Singapore taking the number one position, followed by Hong Kong, Zurich, Tokyo, Osaka and Seoul.
But just when you thought you might be able to start saving some dosh, economists have warned the dip may be short-lived, with prices likely to go up this year due to rising import costs and a possible recovery by the pound. And yes, feel free to blame Brexit for that too.
Here’s a list of the top ten most expensive cities in the world:
1. Singapore
2. Hong Kong
3. Zurich
4. Tokyo
5. Osaka
6. Seoul
7. Geneva
8. Paris
9. New York
10. Copenhagen
Image: Umbreen Hafeez/Flickr