That’s how much money you need to live in London

Inflation affects many people. The energy crisis seems to be easing and the inflation rate is gradually falling. But food prices in particular are rising rapidly at the moment – ​​not to mention rents. But how high is the cost of living in foreign countries? big cities? Example London.

Rents in Germany have been rising for years – especially in the big cities. But the energy crisis and inflation have made life in this country much more expensive. It is true that energy prices now seem to be relaxing somewhat.

However, the prices of many foods and products continue to rise. But how expensive is living abroad? Today: the current cost of living in London.

Cost of living London: how expensive is the British capital?

The so-called “Cost of Living Index” is a theoretical price index that compares the costs of different products and services in different countries or cities. There are now numerous websites that promise such a price comparison.

However, the Numbeo platform is considered one of the largest data-based platforms when it comes to the cost of living. The “Cost of Living Index by City 2023‘ compares the cost of living in hundreds of major cities around the world. The city of New York City, which is generally regarded as one of the most expensive cities in the world, forms the benchmark and general comparative value.

According to Numbeo, the cost of living in London is 83.3 (New York City: 100.00). This puts the British capital in 33rd place in the ranking (as of July 10, 2023). In comparison: Berlin with a value of 71.3 in 106th place, Munich in 82nd place with a price index of 73.9 and Cologne with a cost of living index of 69.5 in 123rd place.

How much are rents in London?

When it comes to the cost of living, London is one of the most expensive cities in the UK. In international comparison, the city is 16.7 percent cheaper than New York City (without rent). Taking rents into account (Cost of Living Index Plus Rent Index), the British capital is 23.6 percent cheaper than the US metropolis.

According to Numbeo – as of July 10, 2023 – the rental prices for a single household are converted as follows: 2,431.51 euros for an apartment in the city center and 1,704.23 euros rent for an apartment outside the center. For a family of four: 4,542.63 euros in the city center and 2,933.99 euros outside the center.

Cost of living: How much money do you need in London?

According to the index platform Numbeo, the cost of living in London for a family of four is the equivalent of EUR 4,171.93 (without rent) and EUR 8,714.56 (with rent in the city center) and EUR 7,105.92 outside the city centre.

For a one-person household, the evaluation is as follows: 1,217.94 euros (without rent) and 3,666.77 euros (with rent in the city center) and 2,922.42 euros outside the center. Overall, the evaluation includes all living expenses: rent, ancillary costs, restaurant visits, clothing, groceries, car, travel, savings and more.

Depending on consumer behavior and living conditions, the cut can vary. In order to calculate the individual living costs in London and Co., the platform provides an in-house calculator ready.

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