Oslo beats out Tokyo as priciest city: New York, the priciest American city, fell to No. 27 on world list [CNN/Money].
Are they kidding me? New York is 27th on the list and yet its the priciest American city? I guess I am not unlike many here who see New York City, as former Mayor Guiliani dubbed, the Capital of the World, so I assumed we’d be at least top ten. Has anyone tried to rent a 2-bedroom apartment here lately?
Actually last year, New York was 23rd on the list so its become relative cheaper to live here.
European cities dominated the top ten.
“For the first time in nearly a generation, Tokyo no longer ranks as the world’s most expensive city, according to a survey released Tuesday by the Economist Group.”
“The biannual survey, which covers 130 countries, found Oslo, Norway as No. 1 in terms of cost of living. Tokyo fell to No. 2. “
One of the things i was curious about with this index was if it was in US dollar purchasing power terms. Since the dollar has retreated a bit against the euro etc it would make sense that NY had dropped 4 spots.
Jonathan, do you know what costs they are measuring (price per sq foot?), and if it adjusts for relative currency value? NY may lose some of its perceived high cost once dollar is converted into Euros.
Kim – no I am not sure precisely – I could not find the actual report or at least its scope. I know the CNN reporter and he’s real good. Maybe I’ll ask him. Mike had the same thought that you did. The weakening dollar.
I also wonder what kinds of cost-of-living things are factored in– aren’t there loads of government- subsidized services in Scandinavian countries? And even in the UK, compared to here– in London, for instance, there are lots of public health clubs with swimming pools that you can go to relatively cheaply, as a member or paying by the day. In NYC there are a few city pools but otherwise a day pass at a gym will cost you $20 and up. That is just a minor example but I wonder if it’s indicative of a different balance to what people spend their money on. In other words, they can spend more on rent and food because they spend less on gyms, the arts, etc.
Thats true, although those services are wrapped within their tax payments which I believe, are at a much higher percentage of their personal income than here in the US so those types of costs, including healthcare, are already factored in. Of course this says nothing about the quality of services…
It’s easy to earn a living in Tokyo though…
London. London is freakin expensive.