International And the most expensive city in the world is....Tel Aviv

[MicroBrew]

- Tel Aviv takes the top spot for being the most expensive city in the world to live in.
- 173 cities were compared
- Supply chain issues and soaring inflation have pushed up the cost of living.
- A strong shekel is attributed as the main contributing factor
- Mayor of Tel Aviv warns that soaring real estate prices means the city was heading towards an "explosion"
- Paris and Singapore are tied at #2 . Zurich is # 4 and Hong Kong is # 5
- NYC, Geneva, Los Angeles, Osaka and Copenhagen make up the rest of the top 10 most expensive cities.
- Tehran saw the largest jump in cost of living, mainly because of US sanctions.

- Damascus ranked as the least expensive city

https://www.bbc.com/news/world-middle-east-59489259

https://www.cnn.com/travel/article/world-most-expensive-cities-2021/index.html

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Surprised Beirut isn't in the top ten as its inflation has skyrocketed and economy is in very bad shape.
Inflation and supply chain issues is a huge problem most everywhere.

Real estate costs has become a major issue as of late. I didn't pay attention to real estate prices years ago so I wonder if the price rise was gradual or there has been a sharp spike within the last few years?

America and Canada are really going to have to do something to tackle the housing costs because this is a major problem. US & Canada could start with restricting or just barring foreigners from buying real estate.

 

[Sonny Qc]

Where's the Complete list?

 

[Mr Holmes]

Surprised to see San Fran is not on the list.

World's most expensive cities to live 2021
1. Tel Aviv, Israel
2. (tie) Paris, France
2. (tie) Singapore
4. Zurich, Switzerland
5. Hong Kong
6. New York City, New York
7. Geneva, Switzerland
8. Copenhagen, Denmark
9. Los Angeles, California
10. Osaka, Japan
11. Oslo, Norway
12. Seoul, South Korea
13. Tokyo, Japan
14. (tie) Vienna, Austria
14. (tie) Sydney, Australia
16. Melbourne, Australia
17. (tie) Helsinki, Finland
17. (tie) London, UK
19. (tie) Dublin, Ireland
19. (tie) Frankfurt, Germany
19. (tie) Shanghai, China

 

[Zazen]

Osaka over Tokyo? Why is that?

 

[Sonny Qc]

Surprised to see San Fran is not on the list.

World's most expensive cities to live 2021
1. Tel Aviv, Israel
2. (tie) Paris, France
2. (tie) Singapore
4. Zurich, Switzerland
5. Hong Kong
6. New York City, New York
7. Geneva, Switzerland
8. Copenhagen, Denmark
9. Los Angeles, California
10. Osaka, Japan
11. Oslo, Norway
12. Seoul, South Korea
13. Tokyo, Japan
14. (tie) Vienna, Austria
14. (tie) Sydney, Australia
16. Melbourne, Australia
17. (tie) Helsinki, Finland
17. (tie) London, UK
19. (tie) Dublin, Ireland
19. (tie) Frankfurt, Germany
19. (tie) Shanghai, China

and it's the costliest city in North America
https://www.expatistan.com/cost-of-living/index/north-america

 

[MicroBrew]

Where's the Complete list?

The list was compiled by the Economist magazine. They require susbscription or registration to access the full report, so I am trying to find an alternative source but haven't found one yet.

Here is the top 21 cities
https://www.usatoday.com/story/trav...st-expensive-cities-in-world-2021/8819589002/

 

[Sonny Qc]

Osaka over Tokyo? Why is that?

it's because

Spoiler

you touch yourself at night

 

[SammyPops]

This is so misleading due to the effect of currency as teh OP points out.
for example, Toronto was up there years ago when our dollar was banging b/c of the oil boom, and even though its become even more expensive its far down the list due to teh dollar.

 

[Sonny Qc]

The list was compiled by the Economist magazine. They require susbscription or registration to access the full report, so I am trying to find and alternative source but haven't found one yet.

Here is the top 21 cities
https://www.usatoday.com/story/trav...st-expensive-cities-in-world-2021/8819589002/

my city is 38th in North America,

so that mean not even close to be in the top 100 worldwide.

 

[MicroBrew]

Over the years I usually saw Luanda, Zurich and Toyko being in the top 5.

 

[MicroBrew]

This is so misleading due to the effect of currency as teh OP points out.
for example, Toronto was up there years ago when our dollar was banging b/c of the oil boom, and even though its become even more expensive its far down the list due to teh dollar.

Yeah the strength of the currency skews the rankings. But real estate and inflation are big factors for Tel Aviv.

 

[Prutfis]

Property prices in Copenhagen are insane. A 3800sqft lot with 970sqft shed on it will go for 600k$

 

[MicroBrew]

Property prices in Copenhagen are insane. A 3800sqft lot with 970sqft shed on it will go for 600k$

That doesn't sound high if the area is decent and not some poor crime riddled place. 3800 sqft is a lot.

 

[MeatheadMike]

- Tel Aviv takes the top spot for being the most expensive city in the world to live in.

Real estate costs has become a major issue as of late. I didn't pay attention to real estate prices years ago so I wonder if the price rise was gradual or there has been a sharp spike within the last few years?

They rose sharply because of the pandemic.
Interest rates which were reduced during the pandemic to boost economic health, significantly drove up housing prices. Then the pandemic caused a large desire for people to leave apartments and move into houses.... Basically everyone who was planning to move into a house within the next 5 years or so were motivated to all do it at the same time. Restrictions on foreclosures and evictions during the pandemic also didn't help.

Wouldn't have guessed that Tel Aviv is ranked most expensive, but not shocked.

 

[Rygu]

If Vancouver doesn't even make the top 20 worldwide, the world has a serious inflation problem.

A condo sized house on a small lot goes for $1.5 million easy.

 

[SammyPops]

That doesn't sound high if the area is decent and not some poor crime riddled place. 3800 sqft is a lot.

no shit, thats worth multi millions in Canada's major cities.

 

[Ballsaque]

Property prices in Copenhagen are insane. A 3800sqft lot with 970sqft shed on it will go for 600k$

Yeah but I feel like living in general is not that insanely expensive? Don't know if it's just me.

 

[Sonny Qc]

If Vancouver doesn't even make the top 20 worldwide, the world has a serious inflation problem.

A condo sized house on a small lot goes for $1.5 million easy.

VAN is 14th in North America.

not even top 50 worldwide.

Yep, the world is fck'd

 

[djacobox372]

Osaka over Tokyo? Why is that?

Likely because Tokyo has a massive amount of residential real-estate and the population is shrinking, meaning they have more supply than demand.

Osaka is MUCH smaller, so the supply is more limited, yet most people prefer it over Tokyo.

 

[MicroBrew]

VAN is 14th in North America.

not even top 50 worldwide.

Yep, the world is fck'd

Real estate / housing / rental costs are going to become a major societal and political issue in the US and Canada. Homelessness is already a big problem in many cities, and while mental health and drugs is a big factor, lack of affordable housing is going to be a factor.

The Dems / Biden should really make housing costs a major Democrat platform.

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The current spike in rents is most pronounced in places like the Phoenix metro area or Boise, where rents for two-bedroom apartments have climbed 15% and 21%, respectively, in the last year, per Zumper data. But those markets aren’t unique. It’s a nationwide phenomenon that’s having a significant impact on housing markets, affordability and access.

Every one of the nation’s 100 largest metro areas has seen month-over-month rent growth over the last five months, according to Apartment List economist Christopher Salviati — a phenomenon he’s never seen before. Data from Zillow shows a similar national increase, up an average of 11.5%, or $200, compared to last August.

“We’re seeing an unprecedented level of rent growth,” Salviati said. “Our national index shows rents up 12.4% year over year, after a pretty modest dip early last year due to the pandemic.”

Gilbert, Arizona, a suburb south of Phoenix, saw rent skyrocket 24% between March 2020 to September 2021, said Jeff Andrews, data journalist at Zumper. Metro areas that are primarily single-family suburbs, such as Orlando and Atlanta, are also seeing big spikes (21% and 15%, respectively).

https://www.bloomberg.com/news/articles/2021-10-05/tenants-struggle-with-red-hot-u-s-rental-market


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My in-law's relatives live in Canada, and they say rents have gone through the roof in the last 10+ years. Some of them sold their homes for well over a million and moved further away from the big cities. I hear a lot of people saying rich Chinese buying up property for high prices has skyrocketed prices in Toronto and Vancouver. In China property is seen as the surest way to invest/park your money.

Now that China has had the Evergrande crisis, even more Chinese are going to flock to Canada and America to buy property because it is far far safer to buy property here than in China. In China even the locals can not outright own property, so when they purchase property they are purchasing a 70 year or whatever lease. So ones's kids will only own the property for X number of years. In Canada and America a Chinese person will own the property forever.