2017 Relocation Price Index: New York Ranked 2nd Most Expensive City Worldwide for Living Costs

2017 Relocation Price Index: Study Reveals the Cost of Moving to Some of the Most in Demand Cities Worldwide

  • New York, San Francisco and Zurich are among the priciest cities to move to.
  • Hong Kong is the most expensive city for the cost of relocating and Seoul, South Korea is the most affordable.
  • London is the most expensive city for local transport, followed by Dublin and Sydney.

Online moving platform Movinga has produced a study detailing the costs associated with relocating to some of the world’s most in-demand cities. 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.

To compile the Index, Movinga first researched the average cost of moving to each city in the ranking. They contacted several moving companies in each city to find the cost of relocating, using the world’s average distance for relocations of 250 km. 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 utilize 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 square meter apartment close to the city center, 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.

For the full results of the study (75 cities) with the interactive table of findings, visit here.

 

 

 


“Berlin, Paris, Frankfurt, Dublin and Amsterdam; these are all cities that may be preparing for an influx of banking industry workers due to Brexit,” stated Movinga’s Managing Director Finn Hänsel. “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 New York, USA ranks in position 2, with a basic first month living cost of $3,084.75. This is followed by San Francisco in position 3, with a basic first month living cost of $3,050.10. Seattle ranks in position 10 at $2,084.03, followed closely by Los Angeles, 11, $2,012.70. Finally, Austin ranks at position 25, with a basic first month living cost of $1,533.39. This compares to the least expensive city Tunis, Tunisia, at $397.80, while Luanda, Angola came in as the most expensive at $3,259.32.

 

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 labor and transport costs associated with relocating.
  • Hong Kong offers the most expensive labor 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


Full results of the ranking can be found on Movinga’s website here.

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