If you've ever wanted to move to Paris, this might be the time. In fact, relatively speaking, most of Europe has become more affordable than in past years, according to the Economist Intelligence Unit's 2020 Worldwide Cost of Living Survey.
The analysis, conducted twice a year for the past 30 years, looks at prices for goods and services in cities all over the world. In the most recent survey, three Asian cities tied for the title of "most expensive": Singapore, Hong Kong, and Osaka, Japan.
Paris dropped to fifth place, tying with Zurich, Switzerland, and just behind the highest-priced North American city, New York. Rounding out the top 10 are Tel Aviv, Los Angeles, Tokyo, and Geneva.
According to the researchers, the results showed a clear trend occurring in Europe. "Modest domestic demand and weak global energy prices have kept inflationary pressures subdued across Europe in the past year," the report said.
The list of 133 cities placed Damascus, Syria, as the least-expensive place to live, of those surveyed, followed by Tashkent, Uzbekistan.
About the top three:
- Singapore is one of the world's three city-states -- independent, sovereign cities -- along with Monaco and Vatican City.
- Per capita, Hong Kong has more Rolls-Royce automobiles than any other city.
- Osaka, Japan, has several large underground shopping malls, and its Tenjinbashisuji Shopping Street is the longest shopping street in Japan, with more than 600 stores.