Singapore has emerged as one of the top 10 most expensive cities to relocate to with a basic month living cost of US$2,148.45, according to the 2017 Relocation Price Index.
As per a study by online moving platform Movinga, New York, San Francisco and Zurich are among the priciest cities to move to; Hong Kong is the most expensive city for cost of relocating and Seoul, South Korea is the most affordable; London is the most expensive city for local transport, followed by Dublin and Sydney.
"Berlin, Paris, Frankfurt, Dublin and Amsterdam - these are all cities that may be preparing for an influx of banking industry workers due to Brexit. Among the factors that the directors of the banks will have to take into consideration for relocating will be the cost of relocating for employees. Therefore, studies like this will be very important in the years to come," stated Finn Hänsel -Managing Director of Hänsel -Managing Director of Movinga.
Singapore has grabbed the eighth position on the list of top 10 most expensive cities with the first-month cost being US$2,184.85.
Movinga carried out the research after conducting a poll which indicated that 50% of 5,000 respondents aged between 25-35 stated they would look to relocate in the next five years. Understanding the costs associated with moving is very valuable for those who are looking, or being recruited, for jobs abroad. The research, which includes 75 cities in 51 countries globally, found that Luanda, Angola has the highest first month's basic costs directly above New York and San Francisco, USA. Tunis in Tunisia has the lowest.
The research includes 75 cities in 51 countries globally.