This is the most expensive city in the world

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 much is the cost of living abroad?? Example Hamilton in Bermuda, the most expensive city in the world.

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 Hamilton, Bermuda, the most expensive city in the world.

What is the most expensive city in the world?

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.

However, according to Numbeo, the cost of living in Hamilton, Bermuda is higher than in New York at 139.5 (New York City: 100.00). This actually makes the capital of the Bermuda archipelago the most expensive city in the world (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.

What are the rents in Hamilton, Bermuda?

When it comes to the cost of living, Hamilton is one of the most expensive cities in the world. In an international comparison, the city is 39.5 percent more expensive than New York City (without rent). Taking into account the rental prices (Cost of Living Index Plus Rent Index), the capital of the archipelago is even 43.8 percent more expensive than the US metropolis.

According to Numbeo – as of July 10, 2023 – the rental prices for a single household are converted as follows: 2,941.16 euros for an apartment in the city center and 1,995.06 euros rent for an apartment outside the center. For a family of four: 6,186.59 euros in the city center and 4,324.27 euros outside the center.

How much money do you need in the most expensive city in the world?

According to the index platform Numbeo, the cost of living in Hamilton for a family of four is the equivalent of 6,779.11 euros (without rent) and 12,965.70 euros (with rent in the city center) and 11,103.38 euros outside the center.

For a one-person household, the evaluation is as follows: 1,845.61 euros (without rent) and 4,796.92 euros (with rent in the city center) as well as 3,840.67 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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