Paris climbs to world’s second-most expensive city to live

Paris is the only European city inside the eurozone to feature among the world's most expensive cities to live in 2018, says report.

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Paris has taken Hong Kong’s spot as the second most expensive city to live, according to a survey published on Thursday, while Singapore remains the world’s most expensive city for the fifth year in a row.

The Worldwide Cost of Living report, published by the Economist Intelligence Unit, compares more than 400 individual prices across 160 products and services to measure the cost of living in 133 cities. The report builds its ranking by comparing cities to New York City, which has an index of 100.

Five of the 10 most expensive cities in the world are European — only one of those five is in the eurozone.

Paris moved up five ranks from 2017 to become the 2nd most expensive city to live, on par with Zurich. The city of lights is the only city inside the eurozone to be in the top 10 most expensive places to live worldwide.

European cities tend to be pricier than other cities in the household, personal care, recreation, and entertainment categories, said the report.

The 10 most expensive places to live in the world

1. Singapore

2. Paris

2. Zurich

4. Hong Kong

5. Oslo

6. Geneva

7. Seoul

8. Copenhagen

9. Tel Aviv

10. Sydney

Cities outside the eurozone remain the most expensive in Europe

In Europe, five of the 10 priciest cities are outside the eurozone: Zurich, Oslo, Geneva, Copenhagen, and Reykjavik. The remaining five — Paris, Vienna, Helsinki, Frankfurt, Dublin — are in the eurozone with the French capital as the top of the list.

Most expensive European cities in 2018
The cities are categorised from most to least expensive in Europe.
Europe Rank City Country World Rank
1 Paris France 2
1 Zurich Switzerland 2
3 Oslo Norway 5
4 Geneva Switzerland 6
5 Copenhagen Denmark 8
6 Reykjavik Iceland 14
7 Vienna Austria 17
8 Helsinki Finland 18
9 Frankfurt Germany 19
9 Dublin Ireland 19
11 Milan Italy 22
12 Hamburg Germany 28
13 London UK 30
13 Munich Germany 30
13 Rome Italy 30
16 Dusseldorf Germany 34
16 Barcelona Spain 34
16 Madrid Spain 34
19 Brussels Belgium 37
19 Stockholm Sweden 37
21 Amsterdam Netherlands 45
22 Berlin Germany 46
23 Lyon France 52
24 Manchester UK 56
24 Luxembourg Luxembourg 56
26 Istanbul Turkey 72
27 Prague Czech Rep 82
28 Lisbon Portugal 86
28 Athens Greece 86
28 Moscow Russia 86
31 Warsaw Poland 95
32 Belgrade Serbia 98
32 St Petersburg Russia 98
34 Budapest Hungary 101
35 Kiev Ukraine 110
36 Tashkent Uzbekistan 112
37 Sofia Bulgaria 119
38 Bucharest Romania 124
39 Almaty Kazakhstan 131
Source :

Euronews

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