London world's most expensive city in which to live and work

Investment / Savings
Joe Phelan's picture
England's capital has, yet again, been named the world's most expensive city.

London has, once again, been named the world’s most expensive city in which to live and work, according to research carried out by estate agents Savills.

The study found that accommodation – which includes both housing and office rental costs – comes to a colossal £80,700 a year for the average Londoner, a figure which places the Big Smoke well ahead of New York, Hong Kong and Paris, ranked second, third and fourth most expensive respectively.

Living in London and struggling financially? Speaking to a financial adviser could help you make the most of your money.

London replaced Hong Kong as the world’s most expensive city in 2014, and has topped the table ever since.

The current list of the world's 20 most expensive cities is as follows:

1. London

2. New York

3. Hong Kong

4. Paris

5. Tokyo

6. San Francisco

7. Lagos

8. Singapore

9. Dubai

10. Sydney

11. Miami

12. Los Angeles

13. Moscow

14. Chicago

15. Shanghai

16. Dublin

17. Mumbai

18. Berlin

19. Johannesburg

20. Rio de Janeiro

However, bleak as these results may seem, a separate research study carried out by YouGov and Charter Savings Bank has revealed that London is the top region in Britain for savers, with the average Londoner able to squirrel away £1,096 each month. So, though living and working in London is expensive, it seems many are earning enough to enable them to both live comfortably and save for the future.

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