Lisbon in the Top 100 most expensive capitals
The Portuguese capital is the 95th most expensive capital in the world in Mercer’s 2019 cost of living ranking. It has lost two positions compared to 2018.
Lisbon has lost two places in Mercer’s 2019 cost of living ranking, but of the 209 cities worldwide analysed by the consultancy, the Portuguese capital ranks 95th. Hong Kong continues to be the most expensive city in the world and Tunis is at the opposite extreme, being the cheapest. Luanda, the capital of Angola, falls 20 positions and is the 26th most expensive capital.
Lisbon loses two places but had gained 44 in 2018, in the same Mercer Portugal ranking. It is above all the cost of housing that made it rise in the ranking of the most expensive capitals in the world (among the 209 analysed). This year, the Portuguese capital has dropped two positions (from 93 to 95). This does not mean that Lisbon has become cheaper but that other cities have become more expensive. In one year, the cost of living in Lisbon has not decreased but has been surpassed by other cities.
By isolating European cities from this Mercer 2019 ranking, Lisbon is equated with cities such as Berlin (81st), Madrid (82nd) or Barcelona (92nd). Even compared to Brussels (78th), the difference is already greater. In conclusion, Lisbon has been moving closer to the standard of living of the most expensive European cities over the last 4 or 5 years.
The costs of food, outings, fuel (one of the highest of the cities analysed) and housing are at the root of this increase in the cost of living in the capital. Compared to the most expensive city in the ranking (Hong Kong), the rental price of a T3 apartment in the upmarket districts of Lisbon, for example, is around 3,150 euros, while in the Asian city the value reaches 12,910 euros. In London, the cost is around 5,728.10 euros.
Europe’s most expensive top cities in the world
Zurich (5th) is the only European city in the Top 10 most expensive cities in the world. One year ago Bern (Switzerland), was ranked among the most expensive at 10th place after falling to 12th place. Geneva also dropped two places to 13th place. European cities such as Prague (97th) and Warsaw (173rd) dropped 14 and 19 places respectively.
This fall in ranking also occurred in several Western European cities including Milan (45th), Paris (47th), Oslo (61st) and Madrid (82nd), which dropped 12, 13, 14 and 18 places respectively.
The German cities of Stuttgart (126th), Berlin (81st) and Düsseldorf (92nd) experienced a significant drop. In the United Kingdom, cities recorded modest falls, including Birmingham (135th), which fell seven places, Belfast (158th), which lost six places, and London (23rd), which lost four places.
According to the authors of this ranking, the reasons for the downward trend in Europe can be explained by :
European currencies weakened against the dollar
Security
Concern about the economic scenario
The Top 10 Most Expensive Cities in the World is dominated by 8 Asian cities, with Hong Kong being the most expensive city in the world for expatriates, followed by :
- Tokyo (2nd)
- Singapore (3rd)
- Seoul (4th)
- Shanghai (6th)
- Ashgabat (7th)
- Beijing (8th)
- Shenzhen (10th)
Lisbon and its Top Quality of Life
The Portuguese capital Lisbon was also awarded the prize as one of the 10 cities with the best quality of life in the world. A great recognition for all the work undertaken in the city to achieve these results.
Lisbon has entered the top ten cities with the best quality of life in the world in Monocle magazine’s ranking. The Portuguese capital has moved up two places compared to 2018 and now ranks tenth on a list dominated by Zurich, which this year took first place from the German city of Munich.
“A sunny city with new energy” is how Monocle describes Lisbon. For the time being, the British magazine, which published the list in its newsletter, has not yet published any more details on this ranking choice. Last year, the Portuguese capital’s 12th place was justified by : “Lisbon is teeming with new people and new ideas. Its entrepreneurs continue to open new businesses in Portugal and the city is working hard to ensure the best living conditions for its inhabitants as the city evolves. More affordable housing is being provided and old trams are getting a second wind”. Another good point for all those who are wondering about a future settlement in Portugal.
The ranking was published ahead of the annual conference on the quality of life in cities that Monocle is organising in Madrid from 27 to 29 June. For thirteen years, the publication has ranked the world’s cities with the best living conditions according to criteria such as :
- Transport infrastructures
- Cultural life
- The number of green spaces
- The cost of housing
- The economic environment
This year Zurich (in Switzerland) is at the top of the list, moving up from fourth place in 2018 to first place. For Monocle magazine, the city represents a “winning combination” between safety, “exceptionally functional” public transport and the many places to dive into the lake that is the city’s trademark.
Whereas in the past the city of Zurich imposed bureaucratic barriers on entrepreneurs who wanted to settle here, the Swiss metropolis has changed all that and is now an incubator for talent. Another point that has brought Zurich to the forefront is its geographical location and its excellent connections to the outside world. From Zurich it is possible to travel anywhere in Europe in just a few hours.
Cities with the best quality of life in 2019
- Tokyo (Japan)
- Munich (Germany)
- Copenhagen (Denmark)
- Vienna (Austria)
- Helsinki (Finland)
- Hamburg (Germany)
- Madrid (Spain)
- Berlin (Germany)
- Lisbon (Portugal) in 10th place
The list then continues with Melbourne (Australia), Stockholm (Sweden), Sydney (Australia), Amsterdam (Netherlands) and Vancouver (Canada).
