World’s most expensive cities to live
Anyone who has packed their bags and made the move to Sydney from a rural area or regional centre will know settling in NSW's big smoke isn't cheap.
And now a new study has confirmed just how expensive living on the lush Harbour shores truly is for those who have just moved and how these costs stack up to other global cities.
The 2019 Moving Price Index showed Sydney is eleven on the list of the world's most expensive cities to relocate for both singles and families.
This was based on the average costs of moving, including visa fees, rental prices and other related expenses such as storage. Living costs for the first three months such as transport, shopping and telecommunications were also factored in.
It was determined that the average cost of moving to the Harbour City was just shy of $10,000 for a single and nearly $18,000 for a family.
For singles, this was higher than the cost of relocating to London and Paris, while the cost of moving to Sydney for families was higher than in Los Angeles.
The biggest costs for those moving to the city were rent and coming up with a bond or deposit.
Other expenses such as transport and food and drink were not as expensive relative to other cities.
The aim of the research by relocations company Movinga was to provide insight into the landing costs associated with settling into 85 of the most in-demand cities in the world.
Sydney was included based on its strong track record in attracting expats and interstate residents due to the education facilities, work opportunities and culture.
The most expensive world city for both families and singles was San Francisco, largely due to high food prices, rent and excessive requirements for rental bonds.
New York, Hong Kong and Singapore were also high on the list of the most expensive, along with Boston and Swiss cities Geneva and Zurich.
Dublin, where many of the world's largest financial companies have been relocating since the UK Brexit referendum, was another city within the top 10 most expensive.
New Delhi, the capital of India, was the cheapest city to move to.
Movinga director Finn Age Hänsel said there were now more people moving across borders than ever before for new opportunities.
"Despite the rise in anti-globalisation sentiment in recent years, there's no sign of high skilled migration slowing down anytime soon," Hänsel said.
"With a clear demand for certain skills, global companies are now competing with each other for top talent, which means that there are more opportunities across borders than ever before."
Melbourne was placed 29 on the global list for both families and singles, the second most expensive city in Australia, but the third most expensive city in Oceania, with Auckland one spot above at 28 on the world list.
MOST EXPENSIVE CITIES FOR SINGLES
1. San Francisco
2. New York
4. Hong Kong
10. Los Angeles
MOST EXPENSIVE CITIES FOR FAMILIES
1. San Francisco
4. New York
9. Hong Kong
Originally published as World's most expensive cities to live