Thursday, November 1, 2012

Most expensive cities in the world

CNN reports that according to Mercer Cost of Living 2012, Tokyo is the most expensive city in the world for Americans to work as an expat.  Singapore is #6 while Hong Kong is #9.  The study looked into cost of living items such as a movie ticket ($23 in Tokyo, ouch!), and a cup of coffee ($8.29 in Tokyo and $4 in Manhattan).

In Singapore, a cup of coffee, according to the study, is $5.18.  I guess the researchers went to a five-star hotel instead of local kopi tiams in Singapore.

There's another most expensive study from Swiss bank UBS which ranked Oslo, Norway as the most expensive city in the world in terms of overall cost of living.  It ranked New York City as #6.  Think it meant Manhattan, New York.  New York City, which includes 5 boroughs - Manhattan, Queens, Brooklyn, Bronx and Staten Island, can't possibly be the 6th most expensive in the world.  I can get a meal in Queens for $3.  

Wei Min Tan is Managing Director of Castle Avenue Partners and focuses on Manhattan, New York luxury condominium properties.  He most recently appeared in AM New York's article What International Buyers Want.

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