Mumbai: Mumbai – ranked 57 – is India’s most expensive city for expatriates, inching closer to break into the top 50 most expensive cities in the world, as per Mercer’s 23rd annual Cost of Living Survey.
New Delhi, ranked 99, has moved into the top 100 category, Chennai (135), Bangalore (166) and followed by Kolkata (184). Mumbai (57) is ranked higher and more expensive than cities like Auckland (61), Dallas and Paris (62), Canberra (71), Seattle (76) and Vienna (78 ) . It has moved 25 notes up from being ranked 82 in 2016.
New Delhi and Mumbai have become more expensive over the last year, and their rankings have gone up substantially.
Residential rental prices increased in Mumbai and New Delhi. Due to demonetization, real estate sales market has been severely hit. However, the rental market benefitted from the consumers’ sudden withdrawal from the purchase market, thereby putting pressure on rental prices, as per survey.