The most expensive cities to live and work

Did your city make it to the list?

London is the most expensive city to live and work in the world, according to a United Kingdom-based property group Savills.

Savills compared the total annual cost of renting both residential and office accommodation per person in some of the world's leading cities to find that London topped the list with an average cost of £80,777 per person annually. New York and Hong Kong secured the second and third positions respectively.



According to the report, London has maintained its rank since June 2014.

The cost of living and working in London is more than double the cost of Sydney, Los Angeles and Chicago. "It's 70 per cent more expensive to live and work in London than it is in San Francisco," Savills said.

SOURCE: INDEPENDENT

Dubai, one of the most favourite tourist destinations has been ranked the ninth most expensive city to live and work in by a United Kingdom-based property group Savills. According to the estate agent, the total cost of renting residential as well as office accommodation per person in Dubai is £41,471.



Far from being on top of the list, Mumbai ranked 17th on the list.

SOURCE: SAVILLS

Head of Savills world research Yolande Barnes stated that in order for cities to keep up with the demand, they must keep increasing their supply of residential and office accommodation.

"World cities can become a victim of their own success when rents rise to the point where affordability becomes an issue," she said.



The average cost of accommodation per worker, per year, in the 20 cities measured was £40,641.

This article originally appeared on Independent.