It is official: London is the most expensive city in the world. According to a new study,the British capital is twice as pricey as Sydney and four times more expensive as compared to Rio.
London has now surpassed the former most expensive city Hong Kong as the world’s most pricey city to live and work in. This is the result of a new study conducted by estate agent Savills.
The study finds that rising rents and the strong pound had pushed up the typical cost per employee of renting somewhere to live and leasing office space to $120,000 (£73,800) a year.
London is now the priciest city to live, even surpassing other major metropoles such as New York, Paris and Hong Kong,