If you thought Marbella was an expensive place to live, spare a thought for expats in Hong Kong.
The Far Eastern financial and business hub is the world’s most expensive city for expats, leapfrogging Angolan capital Luanda in the annual chart compiled by consultancy firm Mercer.
Luanda, which had consistently topped the list in recent years, fell in the ranking owing to the weakening of its local currency.
Zurich and Singapore were third and fourth on the list, unchanged from a year ago. Tokyo rose to fifth.
The survey is designed for companies to calculate expat workers’ allowances.
It weighs up the cost of living in 209 cities across the world, comparing the cost of more than 200 items in each location, including housing, transport, food, clothing and entertainment.
Hong Kong came out as the world’s most expensive city with $12,077 a month average rent for a 3-bedroom house, $7.8 for a cup of coffee and $4.8 a hamburger meal.
Kinshasa was ranked sixth, appearing in the top 10 for the first time, followed by Shanghai, Geneva, N’Djamena, and Beijing.
The world’s least expensive cities for expats, according to the cost of living survey, is the Namibian capital Windhoek, followed by Cape Town.
$12,000 a month for a small three bedroom place in Hong Kong makes that €1000-a-week villa with pool in Nueva Andalucia sound like a bargain!