You think San Francisco and New York are expensive? Good luck in Hong Kong and Singapore

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If your city is home to high culture, high finance, or a national media and entertainment hub, you will need a six-figure salary to buy a home and perhaps a very close one to rent one. .

According to a survey of the world's most expensive cities, published Monday by the Economist Intelligence Unit (EIU), Singapore, Paris and Hong Kong are the three most expensive places to live. The two most expensive US cities are in the lower half of the 10 richest urban areas, with New York (# 7) beating Los Angeles (# 10). The two cities, however, rose a few notches in the cost of living index, with six places on the list in New York and one in four in Los Angeles. This is probably not a list to which anyone, with the exception of a real estate agent and current owners, would like to see their cities. Newcomers and American dreamers in these global cities will need creative funding to be able to afford properties worth over $ 1 million.

The top 10 cities are & nbsp; divided between Asia and Europe. Singapore is the only city in the top 10 to maintain its ranking the year before.

Global Survey of the Cost of Living compare costs & nbsp; of 160 products and services in 133 cities worldwide. Products include the cost of food, clothing, housewares, rent, public transit, utility bills, private schools, recreation and even costs for maids and gardeners; more and more & nbsp; becoming the norm in megacities like these. The survey primarily addresses multinational corporations seeking to cost the cost of living of expatriates employed in offices abroad.

The appreciation of the dollar last year has meant that American cities have become more expensive for professional globe-trotters. The rise in costs in New York and Los Angeles represents a sharp increase since 2013 when New York and Los Angeles were not even in the top 10. They were tied for 39th place.

The survey uses New York City as a baseline. The cost of living in New York is therefore 100. The first three are 107, which places them high enough.

The highest US editors were San Francisco (compared to 37 last year at 25), Houston (30th out of 41), Seattle (38th out of 46th), Detroit and Cleveland (67 out of 75). & Nbsp; Keeping in mind the target audience of this survey, making New York and LA the most expensive, is the maid service and the essence, like gasoline, are more expensive than in other parts of the world.

Global cities are becoming cheaper, but there is a reason for that.

The cost of living has fallen to 69% from 73% last year – which means that the cost of living baseline of 100 people is 69 instead of 73 on average for the 133 cities. the list of UIEs. Five years ago, the average cost of living index was 82% and ten years ago it was 89%. One of the reasons for the overall fall in the average cost of living is that Latin American cities, as well as the cost of living in Turkey, have fallen at a faster rate than cities in the United States. world clbad.

"The convergence of costs in traditionally more expensive cities such as Copenhagen, Seoul, New York and Los Angeles is a testament to globalization, similarity of tastes and buying habits," says Roxana Slavcheva, editor in chief. chief of the investigation.

The widening gap between North American and South American cities is becoming more and more remarkable. Buenos Aires, Caracas, São Paulo and Rio de Janeiro all fell in the ranking due to reduced government subsidies in areas such as public transport and electricity, as well as high inflation. Brazil has just come out of a two year recession. Argentina is currently in a. And Venezuela is in its third year of economic depression.

A quick comparison of properties of similar size and location shows that Tribeca, New York, may be cheaper than Chinatown in Singapore. Based on sample listings in the area, a 2-bedroom, 1,100-square-foot condo is suitable for approximately $ 2.02 million in Chinatown's Altex Tian luxury residential tower. A property of similar size & nbsp; Has The léonard Tribeca with two bedrooms and two bathrooms will direct you a cool $ 2.3 million.

EIU claims to want 50,000 individual awards& nbsp; in each survey. The survey is conducted every March and September. & Nbsp; Researchers visit a range of consumer storages, ranging from basic to superfluous, from mid-priced stores to specialty stores. Prices are converted into dollars using current exchange rates and are weighted to obtain comparative indices.

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Let's face it: If your city is home to a high-tech culture, a high finance or a national media and entertainment hub, it will take a six-figure salary to buy a house and perhaps a very close to the one to rent it.

According to a survey of the world's most expensive cities, published Monday by the Economist Intelligence Unit (EIU), Singapore, Paris and Hong Kong are the three most expensive cities to live in. The two most expensive US cities are in the lower half of the 10 richest urban areas, with New York (# 7) beating Los Angeles (# 10). The two cities, however, rose a few notches in the cost of living index, with six places on the list in New York and one in four in Los Angeles. This is probably not a list to which anyone, with the exception of a real estate agent and current owners, would like to see their cities. Newcomers and American dreamers in these global cities will need creative funding to be able to afford properties worth over $ 1 million.

The top 10 cities are spread between Asia and Europe. Singapore is the only city in the top 10 to maintain its ranking the year before.

The global cost of living survey compares the costs of 160 products and services in 133 cities around the world. Products include the cost of food, clothing, housewares, rent, public transit, utility bills, private schools, recreation and even costs for maids and gardeners; which is becoming more and more the norm in megacities like these. The survey primarily addresses multinational corporations seeking to cost the cost of living of expatriates employed in offices abroad.

The appreciation of the dollar last year has meant that American cities have become more expensive for professional globe-trotters. The rising costs in New York and Los Angeles represent a sharp increase since 2013, when New York and Los Angeles were not even in the top 10. They were tied for 39th place.

The survey uses New York City as a baseline. The cost of living in New York is therefore 100. The first three are 107, which places them high enough.

The highest American mountaineers were San Francisco (37 last year at 25), Houston (30th 41st), Seattle (38th 46th), Detroit and Cleveland (67, against 75 respectively). Keeping in mind the target audience of this survey, making New York and LA the most expensive, is the maid service and the essence, like gasoline, are more expensive than in other parts of the world.

Global cities are becoming cheaper, but there is a reason for that.

The cost of living has fallen to 69% from 73% last year – which means that the cost of living baseline of 100 people is 69 instead of 73 on average for the 133 cities. the list of UIEs. Five years ago, the average cost of living index was 82% and ten years ago it was 89%. One of the reasons for the overall fall in the average cost of living is that Latin American cities, as well as the cost of living in Turkey, have fallen at a faster rate than cities in the United States. world clbad.

"Converging costs in traditionally more expensive cities such as Copenhagen, Seoul, New York and Los Angeles reflect globalization, similar tastes and buying habits," said Roxana Slavcheva, editor-in-chief of l & # 39; investigation.

The widening gap between North American and South American cities is becoming more and more remarkable. Buenos Aires, Caracas, São Paulo and Rio de Janeiro have all dropped in the rankings due to reduced government subsidies in areas such as public transport and electricity, resulting in high inflation. Brazil has just come out of a two year recession. Argentina is currently in a. And Venezuela is in its third year of economic depression.

A quick comparison of properties of similar size and location shows that Tribeca, New York, may be cheaper than Chinatown in Singapore. According to examples of listings in the area, a two-bedroom condo and an area of ​​1,100 square feet costs about $ 2.02 million in Chinatown's Altex Tian luxury residential tower. A property similar in size to The Leonard in Tribeca with two bedrooms and two bathrooms will cost you $ 2.3 million.

The EIU says they are reviewing 50,000 individual awards in each survey. The survey is conducted every March and September. Researchers visit a range of mainstream stores ranging from clbadic to superfluous, from mid-priced stores to specialty stores. Prices are converted into dollars using current exchange rates and are weighted to produce comparative indices.