The World's Costliest Cities to Live and Work
After emerging as the topped in the ranking for an unbroken five year period, Hong Kong has slipped to the second place. It still remains as the only ‘New World’ city, from a recently-emerged or emerging national economy, to feature in the top five cities in the index.
The position of this city as compared to the emerging markets of mainland China means that it is unlikely to lose this status in the near future as well, despite property market cooling measures.
By far, Hong Kong remains as the most expensive city to buy residential property, with prices 40 percent higher than London - but the gap is reducing.
Also known as “The Big Apple,” New York is the gateway for immigration to the U.S. and also a financial, cultural, transportation, and a manufacturing hub. A home to 21,800,000 people, New York is also a symbol of American capitalism, freedom and democracy.
New York is one of the most sought after city in United States and also an expensive city to buy and rent property. More than one in five New Yorkers are below the poverty line. Every new impoverished citizen is one less competitor for that perfect apartment.
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