Throughout history, there have been cities across the globe, known for their high costs of living. In these places you’ll drive through neighborhoods with mansions sitting on huge properties. While most of the time, these regions house the rich and famous, things have shifted in many housing markets. Cities that were previously considered “average” in expenses are now some of the priciest places to live in the world. Check out some of the projected places that will cost a hefty fee to live in this year.
With Silicon Valley growing at a rapid pace, thousands of new residents are flocking to the Bay Area each year. Before the tech boom, San Francisco, was definitely not the most affordable city, but these days, prices are at an all time high. Luckily, the average salary of someone living in San Francisco has drifted up alongside of the cost of living. The city has seen such growth in popularity, that it has recently surpassed the reigning champion of expensive living, New York City. To give you a glimpse inside these high prices, the average price that a San Francisco renter pays, is $3,590.
This urban area is China has always been a top contender when it came to expensive housing markets. While some of the smaller apartments and accommodation are considered “affordable”, the overall cost of living is very high. Comparable to the U.S. dollar, simple things are even costing residents an arm and a leg. For a cup of coffee in Hong Kong, you can expect to be dishing out close to $8, over double the price in more expensive U.S. cities.
When people think of expensive in Europe, their minds often zoom right in on London, Paris, and the other major tourist cities. However, Switzerland is often forgotten about, but it should not be. As the finance capital of the world, Zurich will break the bank for those not making a decent income. Another reason why Zurich is so high on the list, is because of the quality of life residents get when the choose to live here. With clean streets and great accommodation options, it is no wonder so many people are choosing this Swiss city as their permanent home.