The 10 most expensive cities to live in around the world in 2018

Vancouver housing

The world's most expensive cities to live in have been revealed in a major survey of almost 300 population hubs.

The destinations are named in the 14th Annual Demographia International Housing Affordability Survey: 2018.

It analysed 293 metropolitan housing markets in nine countries — Australia, Canada, Hong Kong, Ireland, Japan, New Zealand, Singapore, the UK, and the US — in the third quarter of 2017.

Using the "median multiple" approach, which involves taking an area's median house price and dividing it by — the median household income. So if the aver gae income was $50,000 and the average house cost $250,000, the median multiple would be 5.

The method found 26 "severely unaffordable" locations, with the worst offenders in the USA, Australia, New Zealand, Canada, and China.

The survey also looked at all cities, non-major markets included — which is the data we've compiled below.

Scroll down to see the 10 most expensive cities to live in around the world in 2018.

10. Tauranga, Western Bay of Plenty, New Zealand — New Zealand's housing is severely unaffordable with an overall median multiple of 5.8, and in Tauranga the average home costs 8.9 times the average income.

travellight / Shutterstock

=9. Salinas, Monterrey, California, USA — Located in the county of Monterrey, Salinas — a city with a population of less than 150,000 — has a median multiple of 9.1.

EQRoy / Shutterstock

=9. San Francisco, California, USA — Tied with Salinas is hilly, much more populous San Francisco, also with a median multiple of 9.1.

Richard Heyes/Flickr


See the rest of the story at Business Insider

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