Hong Kong and Singapore still expensive but Angolan capital ‘most expensive city’ for expats
The capital of Angola, Luanda, remains the most expensive destination for expat employees, according to the annual survey by consultancy firm Mercer.
Luanda was the costliest city for the third consecutive year, despite being recognised as a relatively inexpensive place to live. However, the cost of imported goods and safe living conditions are available at a steep price.
According to Mercer’s 2015 Cost of Living Survey, Asian and European cities – particularly Hong Kong, Zurich, Singapore and Geneva – top the list of most expensive cities for expatriates.
Other cities appearing in the top 10 of Mercer’s costliest cities for expatriates are Shanghai, Beijing, and Seoul in Asia. The world’s least expensive cities for expatriates, according to the survey, are Bishkek, Windhoek and Karachi.
London was 12th on the list, four places below New York in 16th spot.
207 cities and five continents
Mercer’s survey includes 207 cities across five continents and measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.
Tel Aviv continues to be the most expensive city in the Middle East for expatriates, followed by Dubai, Abu Dhabi, and Beirut, which have all climbed in this year’s ranking. Jeddah continues to be the least expensive city in the region despite rising 24 places.
“Many currencies in the Middle East are pegged to the US dollar, which pushed the cities up in the ranking. Steep increase for expatriate rental accommodations particularly in Abu Dhabi and Dubai also contributed to the increase of the cities in the ranking,” said Mercer executive Nathalie Constantin-Metral.
Trinity Financial has a wealth of experience arranging expat mortgages for clients living across the world. For help to secure a mortgage, call Trinity in 020 7016 0790.
Most expensive cities in 2015
|
2. Hong Kong |
|
3. Zurich |
4. Singapore |
|
5. Geneva |
6. Shanghai |
|
7. Beijing |
8. Seoul |
|
9. Bern, Switzerland |
10. N Djamena, Chad |
Least expensive cities in 2015
|
2. Windhoek, Namibia |
|
3. Karachi, Pakistan |
4. Tunis, Tunisia |
|
5. Skopje, Macedonia |
6. Banjul, Gambia |
| 7. Minsk, Belarus |
8. Cape Town, South Africa |
| 9. Managua, Nicaragua |
10. Tbilisi, Georgia |
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