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The 10 most expensive cities to live in around the world in 2017https://www.businessinsider.in/the-10-most-expensive-cities-to-live-in-around-the-world-in-2017/10-bournemouth-dorset-uk-a-severely-unaffordable-market-in-previous-surveys-the-area-of-bournemouth-dorset-is-the-10th-most-expensive-place-to-live-around-the-world-/slidelist/56733753.cms2017-01-23T16:18:49+05:30

The 10 most expensive cities to live in around the world in 2017

Jan 23, 2017, 16:18 IST

10. Bournemouth & Dorset, UK: A "severely unaffordable" market in previous surveys, the area of Bournemouth & Dorset is the 10th most expensive place to live around the world.

9. San Francisco, US: The California city came in 9th, with a median multiple — median house price divided by median household income — of 9.2.

8. Los Angeles, US: In LA, house prices rose the equivalent of 14 months in household income in only 12 months, giving it a median multiple of 9.3 and putting it in 8th place.

7. Honolulu, US: The Hawaiian capital was reclassified as a "major market" this year with a median multiple of 9.4 after proving to be "severely unaffordable" in all 13 previous editions of the survey.

6. Melbourne, Australia: Melbourne came in sixth place with a median multiple of 9.5.

5. San Jose, CA, US: Another Californian city, San Jose is the fifth most expensive city to live in with a median multiple of 9.6.

4. Auckland, New Zealand: Hitting a median multiple of 10, Auckland is the fourth most expensive city to live in around the world this year.

3. Vancouver, BC, Canada: House prices in Vancouver rose the equivalent of a full year’s household income in only a year, making it the third least affordable place in the world with a median multiple of 11.8.

2. Sydney, Australia: Sydney is the second most unaffordable place to live in the world, with a median multiple of 12.2.

1. Hong Kong, China: For the seventh year in a row, Hong Kong has the least affordable housing market, with a median multiple of 18.1. This is down from 19 last year, the worst ever ranking on record.

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