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Top 10 Most Expensive Cities in the World

By Dhiraj Sharma · Published November 5, 2026

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Busy downtown street with high-rise towers in an expensive world city – Top 10 expensive cities

Cost of living rankings try to measure how expensive daily life is for a comparable household in different cities. Housing, transport, food, clothing and entertainment all enter the basket. Different firms use different baskets and exchange-rate dates, so rankings shift from year to year.

This Finepedia list follows the Mercer Cost of Living survey published in mid-2024, which ranked Hong Kong first among more than 200 cities, followed by Singapore and Zurich ^[1]. The Economist Intelligence Unit's Worldwide Cost of Living survey for 2023 had placed Singapore and Zurich jointly first before that product line was later discontinued, which shows how close the top cities can be ^[2]. Figures below are described as of those 2023–2024 surveys unless noted otherwise.

The ten cities here are drawn from the upper end of those rankings and related reporting: Hong Kong, Singapore, Zurich, Geneva, Basel, Bern, New York, London, Nassau and Los Angeles. The goal is not to crown a permanent winner, but to explain why these places keep appearing at the expensive end of global tables.

Key Facts

The table below summarizes ten of the world's most expensive major cities based primarily on Mercer 2024 ranking positions and widely cited cost-of-living reporting.

Expensive Cities at a Glance

Rank	City	Region	Mercer 2024 note	Notable cost driver
1	Hong Kong	China	Ranked 1st overall	Extreme housing and limited land
2	Singapore	Singapore	Ranked 2nd	Import dependence and tight housing
3	Zurich	Switzerland	Ranked 3rd	High wages and strong franc
4	Geneva	Switzerland	Ranked 4th	International organisations and housing
5	Basel	Switzerland	Ranked 5th	Pharma hub with Swiss price levels
6	Bern	Switzerland	Ranked 6th	Capital costs in a rich economy
7	New York City	USA	Ranked 7th	Manhattan rents and services
8	London	UK	Ranked 8th	Central housing and transport
9	Nassau	Bahamas	Ranked 9th	Island imports and tourism prices
10	Los Angeles	USA	Ranked 10th	Housing, cars and coastal demand

1. Hong Kong

Hong Kong topped Mercer's 2024 Cost of Living ranking ^[1]. The city's steep hills and protected country parks leave limited developable land, so apartments are small and rents for central addresses are among the highest on Earth.

Imported food, international schooling and a busy financial sector add pressure on expatriate budgets that Mercer-style surveys often track. Local households feel the same housing squeeze in different ways, with multi-generational flats common.

Even after political and economic shifts in recent years, Hong Kong's combination of scarce space and global business keeps it near the top of expensive-city lists. Visitors notice restaurant and hotel prices; residents notice mortgages and public housing queues.

Cross-harbour tunnels, Mid-Levels escalators and packed MTR cars show how the city squeezes movement into limited corridors. When surveys convert Hong Kong dollars into US dollars, a strong local currency can push the city even higher relative to peers.

2. Singapore

Singapore ranked second in Mercer 2024 and shared the top spot with Zurich in the EIU's 2023 Worldwide Cost of Living survey ^[1]^[2]. As a city-state with almost no hinterland farms, Singapore imports most of its food and many consumer goods, so global prices pass through quickly.

Certificates of entitlement for cars, competitive private housing and a strong Singapore dollar all raise living costs for those outside heavily subsidised public housing. The government manages inflation carefully, yet expatriate packages still treat Singapore as a premium posting.

Clean streets, efficient transit and safety are part of what people pay for. For many professionals, the high cost is the flip side of a highly organised urban life.

Hawker centres still offer cheaper meals than downtown restaurants, which is why resident experience can differ from an expatriate basket heavy on international schools and imported groceries. Policy makers watch both inflation and housing supply closely because Singapore's brand depends on livability as well as wealth.

3. Zurich

Zurich placed third in Mercer 2024 and has long been a fixture of European expensive-city rankings ^[1]. Switzerland's high wages, strong currency and quality public services push prices for restaurants, groceries and rents upward when measured in other currencies.

The city is a global finance and insurance centre, which concentrates well-paid jobs and demand for central housing. Public transport is excellent, but owning a car and parking in the core is costly.

Visitors often remark that everyday items feel pricey even by Western European standards. For residents, high incomes offset much of that burden, which is why Swiss cities can lead cost tables without matching the poverty rates of some other expensive metros.

Lake Zurich promenades, museums and alpine day trips form part of the premium lifestyle that accompanies those prices. Companies that relocate staff here typically adjust salaries and housing allowances to match survey data.

4. Geneva

Geneva ranked fourth in Mercer 2024 ^[1]. United Nations agencies, the Red Cross and multinational firms create steady demand for housing near the lake and international schools.

Cross-border workers from France can find cheaper homes across the frontier, but living inside Geneva itself remains expensive. Health insurance mandates and high service wages add to household budgets.

The lake and Alps give the city a resort-like setting that supports premium hospitality prices. Like Zurich, Geneva's costs reflect Swiss price levels more than a single local shortage.

Diplomatic traffic and conference calendars keep hotels busy year-round. For families, international school fees can rival housing as the largest line item in an expatriate budget.

5. Basel

Basel, on the Rhine at the border with France and Germany, ranked fifth in Mercer 2024 ^[1]. The city is a life-sciences and pharmaceutical hub, with major employers that attract international staff.

Housing near the historic centre and Rhine promenades is limited, and Swiss retail prices apply even though cheaper shops sit a short tram ride away in neighbouring countries. Many residents take advantage of that border, but official city price indices still look high.

Basel's place in the top five shows that even mid-sized Swiss cities can outrank much larger world capitals on expatriate cost surveys.

Art Basel and a dense hospital and research network bring visitors who spend at Swiss rates. Living cheaper often means shopping across the border, not finding large discounts inside the city proper.

6. Bern

Bern, Switzerland's capital, ranked sixth in Mercer 2024 ^[1]. Government offices, embassies and a compact UNESCO-listed old town keep demand for central housing firm.

The city is smaller and quieter than Zurich or Geneva, yet supermarket, restaurant and service prices follow national Swiss levels. Public services are strong, and wages for many roles are high by European standards.

Bern's appearance near the top of global lists underlines how currency and wage structure, not only megacity scale, drive Mercer's results.

The Aare river and arcaded old town streets give Bern a calm face that hides how costly a simple café lunch can be for someone paid in euros or dollars. Capital-city employment keeps demand steady even when tourism is quiet.

7. New York City

New York City ranked seventh in Mercer 2024 ^[1]. Manhattan and brownstone Brooklyn rents, restaurant prices and private school fees are legendary. Even with more housing supply debates each year, desirable postcodes remain costly.

Unlike Swiss cities, New York combines high costs with sharp income inequality. Some neighbourhoods are among the richest in the United States; others struggle with affordability.

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Transport can be cheaper than owning a car, but housing dominates most household budgets. For global firms, New York pay packages still assume one of the world's most expensive consumer markets.

Grocery delivery, co-working desks and childcare can rival rent for young professionals. Outer-borough moves help some households, but long commutes trade money for time.

8. London

London ranked eighth in Mercer 2024 ^[1]. Central zones such as Westminster, Kensington and the City show extreme house prices and rents, while outer boroughs stretch commuting times.

The pound's exchange rate moves London up or down in dollar-based surveys from year to year. Tube and train costs, council tax and dining out all weigh on middle-income households.

Despite political change and remote-work trends, London remains a magnet for finance, tech and creative industries that support high prices in the core. Affordability for key workers is a recurring political theme.

Business districts around Canary Wharf and the City support premium office rents that feed into service prices nearby. Currency swings after major political events have repeatedly shuffled London's place in dollar-denominated tables.

9. Nassau

Nassau, capital of the Bahamas, ranked ninth in Mercer 2024 ^[1]. Island geography means many goods arrive by sea or air, and tourism infrastructure prices hotels, taxis and restaurants for visitor wallets.

Local wages do not always match those visitor prices, so the same survey that looks at expatriate baskets can feel especially harsh for residents who shop in tourist districts. Hurricanes and supply disruptions can spike costs further.

Nassau's high ranking surprises some travellers who expect only European and East Asian cities at the top. It illustrates how import dependence and tourism can push a smaller capital into global expensive-city territory.

Resort islands worldwide share versions of this pattern: visitor prices set the visible market, while residents navigate a narrower set of affordable options inland from the hotels.

10. Los Angeles

Los Angeles ranked tenth in Mercer 2024 ^[1]. Coastal and westside housing, car dependence and entertainment-industry salaries shape a costly lifestyle even though the metro sprawls over a huge area.

Unlike transit-rich New York, many LA households need one or more cars, adding insurance, fuel and parking to the basket. Drought, wildfires and insurance markets have also affected housing costs in recent years.

Hollywood glamour and year-round climate keep demand high for scenic neighbourhoods. For Mercer-style expatriate comparisons, Los Angeles closes out the top ten of 2024.

Tech and entertainment payrolls support westside rents that look extreme even by United States standards. Inland valleys can be cheaper, yet long drives and heat then become part of the real cost of living.

Conclusion

The world's most expensive cities share scarce desirable land, strong currencies or wages, and global demand for talent. Hong Kong and Singapore show how small geographies inflate housing. Swiss cities show how national price levels dominate. New York, London and Los Angeles show how large job markets sustain high costs.

Rankings will keep moving as exchange rates and rents change. Anyone comparing offers across cities should read the survey date, the basket used and whether local residents or expatriates are the focus. A high rank means a costly basket, not necessarily a better quality of life.

Readers should also watch newer surveys as they appear after 2024, because housing corrections or currency moves can reorder the top ten without changing the underlying story of scarce land and global demand.