Many factors are responsible for sky-high living costs in such glamorous locations, from high inflation and limited housing to ever-increasing demand for goods, services, and real estate.
The Big Apple is a big city with big rent. The lease rates keep increasing sharply, and the average rent in 2022 was $5,000. The city is made of dreams with promising opportunities and endless entertainment.
As one of the most expensive cities in Asia, Singapore shares its status with New York. The reason for such skyrocketing real estate costs is land rarity.
Another notoriously expensive Asian city is Hong Kong. Tying with LA in terms of living cost, the competitive demand for housing is responsible for the insane prices.
Understandably, living the star life has its price due to LA’s competitive housing and high population. In fact, the apartment rent is twice the national average.
This Swiss city has an average rent of $2,000 for just one person! This financial capital is easily the most expensive city in Switzerland. However, one look and you’ll know why this city of decadent chocolate and water promenades is so in demand.
The Golden City is a delightful commercial and cultural center in California. However, housing is costly on the West Coast. Hence, the average rent is sky-high, reaching about $1.5 million.