Meet Dan & Dale
Dan & Dale real estate agent photo

Vancouver is not Canada's most expensive city anymore!

Toronto_skyline_small
Toronto tops the list of the most expensive places to live in Canada, as city life becomes more costly due to the high loonie, according to a survey by consulting firm Mercer.

The annual survey, which looks at items like housing, transport, food, clothing, and entertainment, indicates that higher rents helped Toronto surpass Vancouver as the Canadian city with the highest cost of living.

Toronto now ranks as the 59th most expensive city in the world, while Vancouver ranks six places lower.

The survey points to Ottawa as Canada's cheapest big city in which to live, ranking 114th in the world. Montreal and Calgary take 79th and 96th place respectively.

The most expensive cities in the world in which to live are Luanda, Angola, and Tokyo, with N'Djamena, Chad, Moscow, and Geneva rounding out the top five.

There were 214 cities on the list, with Karachi, Pakistan coming out as the world's least expensive city.

Mercer said higher gas prices contributed to rising consumer costs, but many cities in North America dropped down the global rankings as regions such as Australia felt a stronger burden.

The cost of living survey is designed to help companies and governments figure out compensation allowances for expatriate employees. The cost of housing plays a big part in the ranking because it is often the largest expense for expatriates.

New York is used as the base city for comparisons.

Source: The Canadian Press

Comments:
No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.