Thinking of relocating to a new city? Keep in mind these top 10 most expensive cities in the world
10 May 2024
| Last updated on 10 May 2024
Is your city on the list?
The list of the world's most expensive cities in 2024 has been released, from a study by Henley & Partners with data backed by New World Health.
If you're planning on relocating to a new city and find new expatriate adventures there, it's important to know what to expect in terms of expenses.
1. Monaco
Coming in at first place in the list of the world's most expensive cities in 2024 is the city-state of Monaco.
2. New York City, USA
New York City comes in as the second most expensive city in the world.
SEE ALSO: Did You Know? Dubai Has the Highest Number of Millionaires in the Middle East
In another report by Henley & Partners, New York City has the highest concentration of high-net-worth people residing among any other city in the world. An estimated 349,500 millionaires, 744 centi-millionaires, and 60 billionaires are based in New York City.
3. London, UK
Third place is London, where 227,000 millionaires, 370 centi-millionaires, and 35 billionaires are currently residing in.
London is high on the list of the world's most expensive cities this year, with an average square metre price of USD 26,500 of a prime 200 to 400 square metre apartment in the area.
4. Hong Kong
This year, Hong Kong ranked as the #1 most expensive city in all of Asia, as well as the fourth most expensive place in the world.
5. Saint-Jean-Cap-Ferrat, France
Located between Monaco and Nice is the stunning Saint-Jean-Cap-Ferrat peninsula on the French Riviera. This chic place captures the hearts of people from around the world for its scenic coastal trails and beaches... and captures people's wallets, too - as Saint-Jean-Cap-Ferrat is the fifth most expensive place in the world in 2024.
6. Sydney, Australia
Turning our attention down under, Sydney landed sixth place. This bustling melting pot is Australia's most expensive city to live in and has the largest concentration of high-net-worth residents among all Australian cities.
In fact, we're looking at an estimated 147,000 millionaires in Sydney, 205 centi-millionaires, and 20 billionaires.
7. Paris, France
Paris continues to attract people to its glittering city of love, coming in at seventh place among the most expensive cities in the world. The French city is also the seventh city with the highest number of residing high-net-worth people.
According to the 2024 report, Paris has around 165,000 millionaires, 286 centi-millionaires, and 23 billionaires living there.
8. Los Angeles, USA
Located in the sunny state of southern California, Los Angeles is the second most expensive city in live in the US, and it is also the eighth most expensive globally.
The city is home to some famous public figures and sites, including Hollywood Boulevard, Santa Monica, and Long Beach - locations popularised in movies, shows, and other media.
9. Palm Beach, USA
We've got two beachside American places at ninth and tenth place. Palm Beach is one of the US' most glamorous resort towns, attracting visitors throughout the year to its vast golden shores and turquoise waters.
10. Miami Beach, USA
Sun-soaked Miami Beach wraps up the 2024 list of the world's most expensive cities and towns. Here, luxury is combined with the radiant surf and sand atmosphere, and costs an average of USD 17,200.
