Sydney and Melbourne are now ranked among the world’s most expensive to live in

AUSTRALIA-LIFESTYLE-TRAM-RESTAURANT

Sydney and Melbourne have become relatively more expensive on a world scale, according to the latest Worldwide Cost of Living Survey.

The Economist Intelligence Unit’s survey, which compares the prices in 133 cities around the world, saw Sydney and Melbourne moving up six places each into 14th and 15th place.

“The rise of Australian and New Zealand cities up the ranking is to be expected, given that both countries’ currencies have appreciated in value in the last year or so,” says Jon Copestake, editor of the survey.

“This movement is in sync with a number of other Asian cities, which have come to dominate at the top of the ranking.”

However, the rankings are still lower than five years ago when both Sydney and Melbourne were among the ten most expensive cities in the world.

Singapore topped the global ranking for the fourth year running with Hong Kong in second place.

Here are the rankings for cities in Asia:

Source: EIU

The Worldwide Cost of Living is a twice yearly survey comparing prices, including food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.

And here are the 10 most expensive cities:

Source: EIU

 

Reference: https://www.businessinsider.com.au

Author: johnsonhung

Property Investment Consultant / Finance Referral (Home Loan) / Lawyer Referral (Any Legal Requirement) / PR for Australia / Real Estate Professional / Coronis Realty (International Department) / Development Adviser / Construction Builder Referral

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