Author Topic: London now rated 12th most expensive city for expats  (Read 677 times)

Offline thaiga

  • Korat forum specialist
  • *****
  • Posts: 15960
London now rated 12th most expensive city for expats
« on: July 10, 2014, 02:55:51 PM »
Birmingham, Aberdeen, Glasgow and Belfast also shoot up the rankings thanks to a strong pound and surging property prices

Rising house prices and the strength of the pound have pushed London, Birmingham, Aberdeen, Glasgow and Belfast up the rankings in an annual survey of the most expensive cities in the world for expatriates to live in.

London is now ranked as the 12th most expensive city in the world for expats to live in, having shot up 13 places from 25th in 2013.

Birmingham is the UK's second most expensive city and is ranked this year in 90th place, having leapt from 135th in 2013 according to the research, which is designed to help multinational companies and governments set the size of compensation allowances for their expatriate employees.

Aberdeen, with its strong oil industry, follows closely behind as the 94th most expensive city, while Glasgow is at number 108.

The Scottish cities have jumped 34 and 49 places up the rankings respectively since last year.

"This year, UK cities have surged in the ranking, mainly as a result of a strengthening of the pound against the dollar," said Ellyn Karetnick, UK head of Mercer's International Mobility Practice. "The UK's soaring housing market has also had an impact, with added pressure on the rental market as many buyers face difficulties in obtaining a mortgage."

She added: "Glasgow and Birmingham have experienced the greatest jumps as they have had significant cost increases on goods and services and rentals."

The most expensive cities in the world for expatriates are both in Africa. Luanda in Angola is the most expensive for the second year in a row followed by N'Djamena in Chad.

The survey compares the cost of housing, transport, food, clothing, household goods and entertainment around the world and currency movements are measured against the US dollar.

The survey found that the typical rental price for a two bedroom unfurnished apartment "of interenational standards in an appropriate neighbourhood" would set an expatriate back £3,000 a month in London. This compares to £850 a month in Birmingham, £3,203 in New York and £3,989 in Luanda.

A trip to the cinema would cost someone in London considerably more than in most other cities, at a typical £13. This compares to £9.50 in Birmingham, £10 in Tokyo and Sydney, £6 in Singapore and £3 in Mexico City. A litre of unleaded petrol is also more in London than most places – a typical £1.39 compared to £1 in Singapore, 63p in New York and 37p in Luanda.

The only European cities in the survey that were more expensive than London were the Swiss cities of Zurich, at number five, Geneva, number six and Bern at number eight.

Top 20

1 Luanda, Angola

2 N'Djamena, Chad

3 Hong Kong

4 Singapore

5 Zurich, Switzerland

6 Geneva, Switzerland

7 Tokyo, Japan

8 Bern, Switzerland

9 Moscow, Russia

10 Shanghai, China

11 Beijing, China

12 London, United Kingdom

13 Victoria, Seychelles

14 Seoul, South Korea

15 Copenhagen, Denmark

16 New York City, United States

17 Shenzhen, China

18 Tel Aviv, Israel

19 Libreville, Gabon

20 Kinshasa, Democratic Republic of the Congo
Anyone who goes to a psychiatrist should have his head examined.