This article is from the Australian Property Journal archive
SYDNEY is Australia’s most expensive city and seventh globally, according to a survey.
The latest Movinga 2017 Relocation Price Index found Hong Kong is the most expensive city to move to whilst Seoul, South Korea was the most affordable.
London is the most expensive city for local transport, followed by Dublin and Sydney.
Movinga carried out the research after conducting a poll which indicated that 50% of 5,000 respondents aged between 25-35 stated they would look to relocate in the next five years. Understanding the costs associated with moving is very valuable for those who are looking, or being recruited, for jobs abroad. The research, which includes 75 cities in 51 countries globally, found that Luanda, Angola has the highest first month’s basic costs directly above New York and San Francisco, USA. Tunis in Tunisia has the lowest.
Although the overall expense will differ depending on each unique move, the fees incurred are an indicator as to which locations are more or less expensive in which to utilise moving services. Next, they calculated the basic costs associated with the first month of living in a new city. Calculations include the average rent for a 35 sqm apartment close to the city centre, calculated by finding the cost of a month’s data plan and set-up for a mobile phone, food and drink for a month, and a month’s use of city public transport.
“Berlin, Paris, Frankfurt, Dublin and Amsterdam; these are all cities that may be preparing for an influx of banking industry workers due to Brexit,” Movinga’s managing director Finn Hänsel said. “Among the factors that the directors of the banks will have to take into consideration for relocating will be the cost of relocating for employees. Therefore, studies like this will be very important in the years to come,”
The results show Sydney is the most expensive city in Australia with a basic first month living cost of US$2,163.43. Melbourne ranks in position 18, with a basic first month living cost of $1,823.93.
Further findings from the Index include:
Johannesburg, South Africa is the city with the least expensive basic first month cost ($722.74) out of all cities with English as an official language.
Tunis, Tunisia offers the least expensive rent for a 35 m² apartment at $127.02/month.
New York, USA has the most expensive rent for a 35 m² apartment at $2,052.15/month.
Warsaw, Poland offers the least expensive mobile set-up with a month of data usage at $4.99.
Zurich, Switzerland has the most expensive mobile set-up with a month of data usage at $97.16.
Bangalore, India offers the least expensive food and drink costs for a month at $233.02.
Luanda, Angola offers the most expensive food and drink costs for a month at $1,124.24.
Cairo, Egypt offers the least expensive public transport costs for a month at $6.50.
London, UK offers the most expensive public transport costs for a month at $153.58.
Seoul, South Korea offers the least expensive labour and transport costs associated with relocating.
Hong Kong offers the most expensive labour and transport costs associated with relocating.
The study revealed the 10 cities offering the highest first month’s living expenses were:
| City | Av. Rent 35 square meters | Phone Set-up | Food and Drink | Transport | First Month Cost | |
| 1 | Luanda, Angola | $2,030.39 | $8.81 | $1,124.24 | $95.89 | $3,259.32 |
| 2 | New York, USA | $2,052.15 | $64.06 | $856.37 | $112.18 | $3,084.75 |
| 3 | San Francisco, USA | $1,995.99 | $64.06 | $922.65 | $67.40 | $3,050.10 |
| 4 | Zurich, Switzerland | $1,357.24 | $97.16 | $1,086.90 | $83.90 | $2,625.19 |
| 5 | London, UK | $1,921.36 | $29.79 | $509.62 | $153.58 | $2,614.35 |
| 6 | Hong Kong, Hong Kong | $1,530.46 | $29.42 | $649.72 | $55.81 | $2,265.41 |
| 7 | Sydney, Australia | $1,334.91 | $53.46 | $658.80 | $116.26 | $2,163.43 |
| 8 | Singapore, Singapore | $1,414.13 | $34.74 | $629.77 | $69.81 | $2,148.45 |
| 9 | Tokyo, Japan | $1,065.83 | $69.26 | $878.46 | $90.58 | $2,104.13 |
| 10 | Seattle, USA | $1,170.98 | $64.06 | $753.60 | $95.38 | $2,084.03 |
Whilst the 5 cities offering the lowest first month’s living expenses were:
| City | Av. Rent 35 square meters | Phone Set-up | Food and Drink | Transport | First Month Cost | |
| 75 | Tunis, Tunisia | $127.02 | $8.65 | $249.12 | $13.01 | $397.80 |
| 74 | Bangalore, India | $146.46 | $25.16 | $233.02 | $17.32 | $421.96 |
| 73 | Cairo, Egypt | $236.82 | $16.13 | $272.92 | $6.50 | $532.38 |
| 72 | Bucharest, Romania | $287.25 | $12.81 | $268.73 | $14.27 | $583.07 |
| 71 | Medellin, Colombia | $319.77 | $22.30 | $241.67 | $19.89 | $603.63 |
Australian Property Journal
