The Top 3 Most Expensive

Monaco remains more expensive than any other place in the world. With a Cost of Living Index (COLI) of 138, it’s like New York’s cost of living on steroids. Why so pricey? Well, space is tight, the rich love it, it’s safe, taxes are low, and it screams luxury. All this means that living there doesn’t come cheap, especially when it comes to finding a place to live, which makes up about 30% of your expenses.

Right behind Monaco, Hong Kong takes the second spot with a COLI of 116.5. Like Monaco, the main issue here is the cost of housing. Singapore follows closely in third with a COLI of 115.3. Apart from housing, car owners have to deal with the Certificate of Entitlement system, which just adds to the expense. Plus, it’s known for its top-notch education, which is another factor driving up the cost of living.

Around the World

Each region has its own most expensive city. In Africa, Monrovia in Liberia wears the crown, with Libreville and N’Djamena following. Over in the Americas, California is home to two of the top three most expensive cities, San Francisco and San Jose, with Manhattan wedged between them. In Asia-Pacific, Sydney is third most expensive after Hong Kong and Singapore. Europe’s runners-up to Monaco are Zurich and Geneva, while the Middle East’s costliest cities start with Jerusalem, followed by Abu Dhabi and Dubai.

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