Europe's most expensive cities for expats in 2024

What is the most expensive city in Europe to live in? You may be seeking an answer out of sheer curiosity or trying to choose a less costly place to settle. In any case, read this article to find out more about the cost of living in the EU for expats.

Most expensive cities for expats in the world

Before we move on to the list of the most expensive cities in Europe, let us pay tribute to a few places in other parts of the world which may surprise you with extreme costs. Almost every list of the most expensive cities for expats has these names:

• Hong Kong,

• Singapore,

• New York,

• Dubai,

• San Francisco.

Yet, it is important to understand that the authors of different lists of expensive cities for expats follow different criteria. While some only focus on the cost of living, others find the average salary of more importance. Furthermore, the cost of living may differ in various sources, depending on the research a particular list of most expensive cities for expats is based on. Therefore, while some claim that life in Hong Kong or Dubai is extremely pricey, others find it affordable thanks to salary offerings.

Swiss expensive cities for expats

Is it expensive to live in Europe? Certainly, if you choose Switzerland, the country of the safest banks, delicious chocolate, and screensaver-perfect landscapes. It is a synonym for spending a fortune despite its relatively high life quality. Necessary expenses like housing keep rising and outpacing inflation. Here are Switzerland's most expensive cities for expats:

• Bern,

• Zurich,

• Geneve,

• Lausanne,

• Basel.

Naturally, these places are costly not only for digital nomads. Tourists should be aware of the most expensive cities to visit in Europe and plan their budget accordingly.

Is London among the most expensive places in Europe?

Even though the UK is no longer a part of the EU, London may still be among the most expensive cities for expats in Europe. Numerous expenses, from household bills to health insurance, require those living in London to be particularly savvy about managing their finances; besides expats from India, Brazil, Nigeria, and other countries who reside in the EU, keep London in mind when thinking of the most expensive cities to visit in Europe.

More expensive cities for expats in the EU

The cost of living in Europe in two different cities may vary significantly. A small town with a local market is way more affordable than a bustling capital. These cities are believed to be among the most expensive:

• Reykjavik,

• Dublin,

• Amsterdam,

• Paris,

• Oslo.

Now, let us compare the numbers most expats must bear in mind when calculating their expenses. Here is what we will focus on:

• Rent: average price for a one-bedroom apartment, utilities not included;

• Food: average cost of purchase in a grocery store: a litre of milk, a loaf of bread, a dozen eggs, a kilo of rice, a kilo of potatoes, a kilo of apples, half a kilo of cheese a kilo of chicken fillet;

• Transport: a monthly pass for public transport;

• Salary: average monthly salary net.

We will take a look at the prices in the capitals included in the lists of the most expensive places in Europe as well as in the cities loved by expats: Berlin, Rome, and Lisbon.

As per the table, the numbers for the expensive cities for expats are always higher than those in less costly ones. For example, the average rent in Dublin is way more expensive than in Bern, while the Swiss capital is on top in most rankings of the most expensive places in Europe. In addition to that, the rent in Lisbon is even a bit pricier than in Paris, while the French capital offers higher salaries and higher prices for food or transport.

How expats can avoid spending too much

What is the most expensive city in Europe? In fact the answer is not important: planning your budget and managing the finances smartly will allow you to avoid overspending even in the most expensive cities to visit in Europe.

Calculate your expenses

If you are moving to berlin with two children, you need a bigger flat and the pricing for schools in Germany is important for you. If you are young and single, your expenses may be more dependent on studying, travelling, or sending money home. Plan your budget according to your needs, not to statistics.

Don't overspend

At first, some expenses may seem insignificant to you, but without financial planning you may find yourself struggling to make both ends meet. Look for discounts – from groceries to concerts deals, get the most beneficial offers for the services you use frequently, like mobile phone plans or money transfers. Don't forget we offer you market-beating exchange rates for sending money from one currency to another and no fee for your first transfer.

Estimate your salary

As you may have noticed, the cost of living in Bern may be compensated by a higher salary. Yet, it is wiser to focus on real life rather than research. If you are starting your career in Europe, your salary may be not impressive at first. If you are a skilled professional, you may get a more lucrative offer and enjoy a comfortable life even in a city that is expensive for most expats.