Delhi, Mumbai most expensive cities for expats
By siliconindia   |   Friday, 03 April 2009, 21:20 IST   |    5 Comments
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New Delhi: The national capital of India, New Delhi and the financial hub Mumbai are proving to be a pocket burner for the foreign expats. Mumbai has even outsmarted New York in the U.S., ranking as the world's fourth most expensive city, a survey said. The findings based on a survey by global HR consultancy Mercer also points out that Mumbai has moved up one step ahead from its fifth position in the September 2008 survey. New Delhi, however, has fallen two places from its sixth place in the previous ranking. The list features six Asian cities among the world's top 10. "The world's housing markets have been sliding since 2008, and major currency fluctuations in the past few months have also had a strong impact on the comparative cost of expatriate housing," Gangapriya Chakraverti, Mercer, India Business Leader said. Russia's Moscow has topped the list of world's most expensive cities and is followed by Tokyo (second), Hong Kong (third), and New York City (fifth) as the five most expensive cities across the globe for expats to live in. While maintaining a global talent pool, it is imperative for firms to include better facilities in the expatriate package and housing remains one of the most sensitive issues during the negotiation. Multinationals used to provide expat employees with luxurious housing options such as large farmhouses featuring world-class facilities. However, today, an increasing number of firms are opting for luxury condominiums which provide the same kind of facilities but at a lower price.

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