About this same time every year, 200 cities around the world are ranked for being the world’s most expensive cities by a New York consulting firm called Mercer. The study is based in New York City, which is known for extravagant prices on everything from apartments, condos like the Aspire New Brunswick and other real estate to most other commodities.
Here are the top five cities in the study; they used US currency as the comparison.
1. The capital of Angola, Luanda, ranks the highest mainly because it relies heavily on the oil industry. The New Yorker reported that a Coke costs $10.00. Are you still thirsty?
2. Hong Kong is reportedly the wealthiest city in Asia. The competition for apartments is crazy, so crazy that they often hold raffles for the privilege to put down a deposit. Residential skyscrapers often reach 45 stories.
3. There are several cities in Switzerland that made the list with Zurich the third wealthiest city in the world. Currency investors attribute it to the fact that Switzerland has issues with the euro, so they invest in Swiss Francs.
4. Singapore may be small geographically, but they have been fourth in the currency comparison for two years. This tiny city-state reportedly charges 50 percent more for clothing and apparel than New York.
5. Geneva is the second city in Switzerland on the list, and it also maintains a high economy with excessive investors.