The recent Economist Intelligence report on “Worldwide Cost of Living 2021” reveals that the Principality of Monaco is nowhere to be seen in the latest ranking of the most expensive cities to live in.
The Economist Intelligence report explores the rise and fall of living costs in 173 cities, measured against impactful global events.
On average, prices for goods and services have risen by 3.5% year-on-year, the highest inflation rate seen in the last five years. Having said that, Tel Aviv tops the rankings, making it the most expensive city in the world to live in. The Israeli city is followed by Paris, Singapore, Zurich, and Hong Kong.
However, as an interesting contrast, the Principality has the most expensive real estate market in the world, yet given the lack of space, apartments are generally much smaller than elsewhere.
We can say that Monaco is one of the most densely populated independent countries in the world. It also has a consequently competitive housing market with the average property only changing hands every 37 years.