14 DAY TRIAL // Many people believe that the most expensive cities in the world are in the US, on account of the fact that a lot of people probably want to live there. However, this couldn't be further from the truth. In reality, no American city has made it into the top five of the most expensive-to-live-in cities in the world, as compiled by Times.
The fifth most expensive place to reside in is Hong-Kong. Even after its transition to communism, after the former colony was returned to China, its glow still lives, and boasts some of the most hard-to-get real estates in the world. It's just one of the three Asian cities to have made it to the top 5 list. On a side note, the rent for a luxury two-bed apartment is about $4,700 per month, and a cup of coffee is sold on average for $3.80.
The fourth place goes to another city in Asia, namely the Japanese capital of Tokyo. For a long time, this urban center was the most expensive place on the planet to live in. That's not to say that now it's cheaper. Rather, it has been surpassed, as far as costs go, by other three cities. Overall, it's very expensive to live there, as the rent for a two-bed apartment can reach as high as $3,000 per month. Known as a safe haven for investors, Tokyo has lately lost some of its reputation in the matter. Still, prices have remained the same.
Seoul occupies the third place of our chart. It's the third and final Asian city on the list, but, on the whole, it's more expensive than the previous two. Rent goes up to $2,500 per month, but the prices for basic commodities are much higher than in Tokyo or Hong-Kong. In addition, the urban center registers the largest percentage increase in the wealthy population, as evidenced by the fact that the number of skyscrapers in the city seems to multiply daily.
Moving to Europe, London is the second most expensive city in the world. With a very large market for real estates, and matching prices, the UK capital charges astronomical prices for the most basic things. For example, a parking space can cost as much as $288,000 in some parts of the metropolis, while the rent for apartments in its Eastern part have skyrocketed since the country learned that it would host the Olympic Games in 2012.
The first place in this top undoubtedly goes to the Russian capital of Moscow, which is currently the most expensive and dangerous city to live in. Ever-increasing revenues brought into the urban center by oil magnates have triggered a wave of development, which in turn has led to a sharp increase in property prices. In addition, the crime rate is very high, and criminals control significant parts of the city. For all this, a new family has to pay a rent of $2,900 per month, as well as $4.5 for a coffee.
