HK$60 for a coffee? Hong Kong is world’s most expensive place to live, survey shows
Strong currency helps propel city ahead of Luanda, Zurich and Singapore
From a cup of coffee to gasoline to a two-bedroom apartment, Hong Kong has moved a notch higher to become the world’s most expensive place to live this year, according to a survey.
The city replaced Luanda of Angola as No 1, with Zurich in third place and Singapore in fourth, human capital consulting firm Mercer revealed on Wednesday.
Currency played a key role. The Hong Kong dollar, for example, has remained strong along with the US dollar, to which it is pegged.
Hong Kong beats the rest of the world in terms of the cost of a cup of coffee including services, at US$7.77 (HK$60); a litre of unleaded 95 octane gasoline, at US$1.79; and an unfurnished two-bedroom apartment in an appropriate neighbourhood, at US$6,809 per month.