Here's a list of the world's top five most expensive cities today, ranked according to the cost of living.
A recent study by UBS, a global financial firm, reveals the following as the most expensive cities in the world to live in:
#1 Zurich, Switzerland
According to Fortune, a family of three living in this city needs over $3,600 per month. And this monthly cost does not include rent. Bloomberg also reported that a bus ride through Zurich costs $2.64, but the purchasing power is highest in this city too, and the workers there earn the highest.
#2 Geneva, Switzerland
Another Swiss city lands the second spot. It costs $3,500 a month for a family of three to live in Geneva, just a little lower than in Zurich. The Telegraph reported that $1 million will be able to buy a 39-square meter luxury property in this city.
#3 New York, USA
UBS' study did not take into account the rental fees in these top five cities, but if rental costs were to be considered, New York City would top the list. Minus rent, however, a family of three living in NYC will need $3,340 per month.
#4 Oslo, Norway
The Telegraph cited a recent study by TripAdvisor which reveals Oslo to be the world's costliest city for tourists or those who would like to go on a short holiday in the city. Hotel rates, taxi rates and meals in this city will cost almost £400 or over $600 a night.
#5 Copenhagen, Denmark
An older survey by UBS revealed that employees in Copenhagen had the highest salaries a little over five years ago. Residents of the city also enjoy good living standards. A one-way ticket for public transport in Copenhagen costs around $3.70, higher than Zurich's, but overall the Swiss city still tops the rankings.
