What’s the Most Expensive City in the World?

Article taken from the Daily Real Estate News - June 19, 2007

Moscow is the most expensive city in the world, according to this year’s annual Mercer Human Resource Consulting survey. London comes in second place, up from third last year. Overall, Asian cities dominated the top 10 of pricey cities. On the other hand, Asuncion, the capital of Paraguay, is the least expensive city for the fifth year in a row.

Mercer surveyed the cost of living in 143 cities, comparing the cost of more than 200 household incomes. Strong currencies dropped New York City to 15th place and Los Angeles to 42nd. No Canadian or Latin American cities were in the top 50.