10 World’s most expensive countries to live in.
The cost of living and surviving in a particular place varies from country to country.
While some countries can be cheap and affordable to live in, the case would be different in
other places.
This might be as a result of the rapid rise of inflation.
Inflation here is a situation where there is an increase in the general level of prices
or a decline in the value of money there by causing the standard of living of that country
to drop in a drastic major.
In recent times most nations face the troubles of inflation thus leading to expensive cost
of living.
The countries mentioned in this video are ranked according to the average cost of living.
High taxes, food, wages, housing and transportation cost can all contribute to the high cost of
living for residents in a country.
Even though the cost of living in a country can be expensive, bear in mind that there
exist cities in that country which are cheap and affordable or vice versa.
Never the less, this countries experience high living standards and comparatively healthy
wages.
So if you are looking for an expensive country to live in luxury, Grace Media has made your
search easier by bringing to you an amazing list of 10 world’s most expensive countries
to live in.
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to our enchanting collection of content.
10.
Ireland.
Given its rich history vibrancy beautiful landscape and idyllic scenery, these country
draws in millions of tourist each year.
If you intend to move here, the key consideration will likely be the cost of living.
This can vary from city to city and can also differ depending on your personal circumstances
and preferences.
However, there are a few ways you can budget your movement to Ireland and can plan out
your cost effectively.
The cost of living is quite high when compared to some other European countries but it is
by no means the most expensive country to live in the world.
When looking at how much it cost to live in Ireland it may be useful to consider some
key statistics like, housing monthly rent for furnished accommodation in an expensive
area is based on an average of 2174 Euro whereas the same type of accommodation stands at 1769
euro per month.
The cost of living in Dublin is 33% higher than in Cork and 47% higher than in Belfast.
The estimated cost for a single person per month is around 2728 Euro and 4809 euro for
a family of 4.
It is interesting to note that while the cost of rent may have risen in recent years, there
have been notable reductions in the cost of health insurance, transport and food prices.
9.
Israel.
This country which is regarded by Jews, Christians and Muslims as the biblical holy land is located
in the Middle East bordered by the Mediterranean Sea which gives it an amazing climate for
both tourist and travelers to relocate in.
With a vibrant cultural scene and a religious atmosphere, living in this country is all
together an amazing experience.
This country is an amazing touristic destination for most religious individuals.
With multiple tourist visiting each year, the average cost of living in Israel is higher
than that of most countries that are part of the organization for economic co-operation
and development (OECD) the cost of living in this holy land can vary from mid to high
all depending on the area you choose to settle and the choice of lifestyle.
The cost of living for a family of four is 16,734 Israeli Shekel, and the cost for a
single person is 9,080 Israeli Shekel.
The housing cost in this country varies from city to city with the most expensive towns
giving out four bedrooms apartments at about $1,974.
Though with high housing cost the government have subsidies basic education till right
up to 12 with just minor levies.
This expensive nature for houses make this country to come amongst the world’s most
expensive countries to live in.
8.
Japan.
Japanese culture places great importance on high quality items and services.
Goods ranging from food to clothes to electronics are all expected to be top grade as are services
in the food industry.
This desire for fine items comes with high cost.
This country is consistently ranked as having one of the highest cost of living in the world.
Daily expenses can easily add up to US$2500 to US$2700 per month.
The capital is consistently ranked as one of the most expensive cities in the world.
A single person living in Tokyo is expected to spend around US$1,100 per month not including
rent.
If you add the average rental price for a one bed room rental apartment, this expenses
goes up to nearly US$2200.
A family of about 4 living in Tokyo will see that number tripled.
Residents should expect to spend a bulk of their paycheck on accommodation cost.
Though eating in standard restaurants might be expensive this cost can easily be avoided
by eating in cheap ramen shops or family restaurants known as famiresu which typically offers both
Japanese and western meals with a plate costing about US$ 5 to US$ 20.
7.
Singapore.
It is common knowledge that the average cost of living in Singapore is high.
For a single person in Singapore their average expenses excluding rent are around US$ 2,000
per month for a four person family this is significantly higher.
Topping up to around US$ 5,000 a month.
It is no news that the cost of living in Singapore is expensive.
From escalating rent prices to some of the most expensive private education in the world,
the city state offers an incredible life style for people who can afford it.
It is good to note that not all living expenses have a hefty price tag.
Eating out and restaurant cost can be reasonable if you eat dishes from local establishments.
Transportation cost can be lowered by taking busses instead of taxis, owning a car in this
country is way more expensive since the government levies higher taxes on car owners because
it is trying to moderate its pollution level.
The central region has the most expensive rent.
This area contains the financial and shopping hob of the country making it pricier to rent
in.
Residents in Singapore usually send their children to international schools because
education back home is way more expensive.
6.
Denmark.
Living in the Danish republic can be quite expensive however you will likely receive
a high salary, free education and health care but this also comes at the expense of almost
halve of your salary being deducted after taxes.
Denmark is a member state of the European Union and the Schengen area.
As a Nordic country Denmark has strong ties to Norway Finland, Iceland and Sweden.
Getting acquainted with the average cost of living in Denmark should prepare you for the
kind of lifestyle you can sustain in the country.
Living in major cities like Copenhagen and Aarhus can be quite expensive.
With Copenhagen being amongst the most expensive cities in the world and both cities are found
on the list of the top 15 most expensive cities in Europe.
However, high salaries in this country should make up for its high cost of living.
The highest average salary you will find in Copenhagen should range to US$7,850 a month,
the lowest salary in the region is around US$ 6,800 a month.
Monthly expenses for a single person excluding rent is about US$1,100 and for a family of
four the monthly expenses excluding rent is about US$ 3,500.
A month of utilities including water heating and electricity is around US$200 this high
standard and prices in the countries major towns makes it one of the world’s most expensive
countries to live in.
5.
Luxemburg This country boost a wealth of nature, culture
arts and history.
Although a small country it is a power house of economics and politics.
Despite the fact that it is expensive to live in Luxemburg, the country remains a popular
destination for emigrants.
The cost of living is fairly high as compared to most of its European neighbors so much
so that it is typical for locals to head across the borders to Belgium, France, and Germany
to buy electrical equipment and luxury items.
The cost of housing in Luxemburg is very expensive.
If you are only planning to stay in the country for a short period of time the best idea is
to rent.
If you intend to stay long term you should consider buying a property.
R3enting a property in this country can be quite expensive in addition to monthly rent
you may also have to pay a deposit of one to five months.
In Luxemburg city center the average rent prices are around 1,600 euro for a one bedroom
apartment for a three bedroom dueling residents should expect to pay up to 4000 euro.
Buying will require a deposit of 20 to 25% in getting a mortgage in Luxemburg.
The public health care system provides free basic health care to all residents.
However, employed individuals pay monthly contributions to the health care system at
a rate of 2.8 percent of their gross earning.
Employers also pay halve the contribution cost on behalf of their employees.
State schools are free of charge for registered resident under the Luxemburg social security.
4.
Bahamas The Bahamas is one of the countries in the
world which has the highest cost of living, with a gross national income per capital of
US$ 1,280 according to the 2014 world development report of the World Bank.
The government of this country does not have restrictions on foreign nationals wishing
to purchase real estate assets and they are actually encouraging these residents to invest
in the country.
The prices of real estate assets in this country are generally expensive.
With the most expensive ones being found in the capital cities of Nasal and Freeport.
A 3 bedroom apartment in the city center cost about US$ 3800 while a similar apartment outside
the capital city cost US$2900.
Foreigners who buy a house worth more than US$250,000 are required to pay a stamp duty
of 10% which is normally divided between the seller and the purchaser.
Dining out in the Bahamas at an inexpensive restaurant can cost about US$10 to US$20 for
a plate of food, while a 3-course meal for two person at a midrange restaurant cost about
US$60 to US$100.
A one way ticket for local transport cost US$1.25 while a regular monthly pass cost
about US$56 to US$ 150 taxi fares starts at about US$10 with an additional fair of about
$1 per kilometer.
This factors makes this country to be amongst the top most expensive countries to live in.
3.
Norway The cost of living in Norway is quite expensive
however this is not really felt with the high wages paid to staff and workers.
The average cost of living in this country will depend on the lifestyle you lead and
where you choose to settle in the country.
Generally, though you can expect to spend between US$2,176 to US$4,352 a month, you
might spend more in the capital cities of Norway.
This expensive cities include Oslo, Bergen, Stavanger and Trondheim.
The cost of living for a single person in one of this major cities is about US$ 1,150
excluding rent.
For a family of 4 the cost of living is estimated at US$4,190 excluding housing rent.
Food is expensive because most of it is imported into this Scandinavian country.
A meal in an inexpensive restaurant will cost about US$20 for two people while a three course
for 2 will cost you about US$100.
Public schools are free in Norway and this even include higher education.
Even international students can study for free in a Norwegian university.
Health care in this country is relatively free for people of age 16 and below, and also
for pregnant and nursing women.
Everyone else pays an annual deductible equivalence to an average of US$222 upon payment you receive
an exemption card which entitles you to free health care for the rest of the year.
Though one of the most expensive countries of the world to live in it still remains an
amazing place to be.
2.
Switzerland The average cost of living in Switzerland
is very high.
Rent alone cost around US$ 2,150 per month for a one bedroom apartment.
The average salary in this country is one of the highest in Europe that is about US$7,000
per month rising to about US$ 10,300 for roles in specialized industries such as the pharmaceutical
sectors.
A single person spent at least US$1600 a month on living expenses excluding rent.
Rent is higher in the bigger cities as compared to smaller ones.
You should expect to pay around US$ 1,250 for a one bedroom apartment in Zurich and
Geneva.
Here public education is free and even the yearly tuition cost for universities average
under US$2,150.
An individual is expected to invest in his or her own private health insurance.
You can expect to spend a minimum of US$110 weekly on groceries as food prices are steep.
Locals will often cook at home as eating out is very expensive especially in cities like
Zurich and Geneva.
Iceland According to Iceland statistics, the average
wage in Iceland is about US$3,160 before tax per month.
The average rent for a one bed room apartments in one of the major cities is US$ 1000 per
month.
A single person can expect to spend US$150 on food, clothes, medical services, transport,
communication and other services.
Whereas, a family of 4 persons will spend about US$5,200 for the same services mentioned.
No tuition fees are paid at public universities although there is an application fee of about
US$333 to be paid, private institutions charge about US$1500 per term as there are usually
two academic terms in a year.
The countries universal health care system is partly paid for by the states Icelandic
Health Insurance Fund and partly by patient contributions.
This means that health care isn’t free but it is far from being expensive.
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