London now ranked twelfth priciest town for foreigners
London is now the 12th priciest town in the world to live for foreigners. Birmingham, Aberdeen, Glasgow and Belfast also shoot up the rankings thanks to a strong pound and surging property prices.
Increasing household prices and the strength of the british pound have moved London, Birmingham, Aberdeen, Glasgow and Belfast up the ranks in an annual study of the most costly towns worldwide for expats to reside in.
London is now rated as the 12th most costly town worldwide for foreigners to reside in, having increased thirteen places from 25th in 2013.
Aberdeen, with its powerful oil business, follows closely behind as the 94th priciest town, whilst Glasgow is located at number 108.
The Scottish towns have improved 34 and 49 places up the ranks respectively since a year ago.
“This year, UK towns have soared in the standing, mostly as a consequence of a fortifying of the british pound against the american dollar,” stated Ellyn Karetnick, UK head of Mercer’s International Mobility Practice. “The UK’s increasing real estate market has additionally had an effect, with additional strain on the leasing marketplace as many buyers face problems in getting a home mortgage.”
The highest priced towns worldwide for foreigners are both in Africa. Luanda in Angola is considered the most expensive for the second year in a row followed closely by N’Djamena in Chad.
The study discovered that the standard rental cost for a two bedroom unfurnished flat “of interenational standards in an appropriate neighbourhood” would set an emigrate back £3,000 a month in London. This compares to £850 a month in Birmingham, £3,203 in New York and £3,989 in Luanda.
The only European towns in the study which were more costly than London were the Swiss cities of Zurich, at number five, Geneva, number six and Bern at number eight.
The Top 20 most expensive towns around the world are:
1. Luanda, Angola
2. N’Djamena, Chad
3. Hong Kong
5. Zurich, Switzerland
6. Geneva, Switzerland
7. Tokyo, Japan
8. Bern, Switzerland
9. Moscow, Russia
10. Shanghai, China
11. Beijing, China
12. London, UK
13. Victoria, Seychelles
14. Seoul, South Korea
15. Copenhagen, Denmark
16. New York City, United States
17. Shenzen, China
18. Tel Aviv, Israel
19. Libreville, Gabon
20. Kinshasa, DR of Congo
You can easily observe that we have 5 towns from the African continent on this top (Angola, Chad, Seychlles, Libreville, Kinshasa), 7 from Asia (mostly China, Japan and South Korea), 7 from Europe (Switzerland, England, Russia, Israel and Denmark) and only one american town: New York City.