The Seven Most Expensive Cities in 2010

Every year a US-based think tank publishes the results of,a survey on the worlds most expensive cities. This year there are a few surprises considering recent shifts in currency values, with a current lack of confidence in both the euro and US dollar., and why are they on the top of this intriguing list?

The fact that London, Moscow, New York and Paris are no longer in the top seven of this list has surprised some, with Japan, and Norway dominating this current list. This may be explained by the rising value of the yen, and kroner- but also in the case of Norway being one of the wealthiest, and least effected countries by the current recession.

Which cities are probably the seven most expensive cities to live in?

1. Tokyo, Japan

Japan's mega city has always been an expensive city to live in, but now with the 'average' rent for a city apartment up to 5,000 US$ a year, and the price of 4US$ for a dozen eggs.

Tokyo may not the place to live in, unless you have a very high paying job or another income. Bear in mind these figures tend to be focused around executive living costs rather than the average person in the street, but Tokyo has always been an expensive place to live in.

2. Oslo, Norway

A booming economy, mineral rich and a sparsely populated nation, Norway with a resurgent kroner is almost as pricey as Tokyo. If you earn kroner, Oslo would be affordable, but comparable to the eurozone, unless you work in the oil industry or own your own property.

3. Luanda, Angola

Once the most expensive city in the world, Luanda beats the flawed urban legend that the poorer the country, the cheaper it becomes. In a city were landlords make more money per month than their counterparts in New York and London- most expats pay on average 3.500 US$ per month for a city apartment.

4. Nagoya, Japan

The once named "Detroit of the East," which many Japanese prefer not to use today. Nagoya is slightly cheaper than Tokyo but only slightly. Nagoya remains one of the World's most successful automobile economies, and this shows in the high living costs of this still booming city.

5. Yokohama, Japan

Yokohama is Japans main port, only a few hours from Tokyo- a city which manufactures the hi-tech products for the world, which are not already produced in China. Yokohama could slip in the next decade, as the industries it is home to, relocate to mainland China.- but do not count on lower living costs just yet.

6. Stavanger, Norway

Europe's petroleum capital, and gateway to the oil richest of the north sea, Stavanger, is a small city with a big appetite for your cash. Food alone costs around 50% more than in a eurozone supermarket- whilst the kroner grows stronger in Europe's strongest economy.

7. Kobe, Japan

Food production, shipping and steel building are synonymous with Kobe, as well as an occasional earthquake. Do not expect to grow old and wealthy in Kobe, unless you are a well-heeled expatriate, or enjoy a visit if you are on one of the ships that ply the Kobe route.

Living costs can often be misunderstood, as they may be based on differing factors. Exchange rates matter little if you earn the local currency, whilst many expatriates are provided housing as part of their contract. Lower to mid-level expatriates live more on a 'local' level, so chances are life is restricted but still affordable in most of these cities.
Japan does face a debt crisis, and the current high living costs are solely because of a rising yen, which should fall as the current government start austerity measures. Any guesses for next years top 7 cities? Watch the value of the euro, kroner, US Dollar, yen and yuan closely in 2011.