For professionals and expatriates, the findings serve as a reminder of the growing challenges of urban affordability in Asia’s key financial centers
Mumbai has once again proven to be India’s priciest urban hub, according to the latest cost-of-living survey. The financial capital has emerged as the most expensive city in India and one of the costliest in Asia, outpacing Delhi, Bengaluru, and Chennai in living expenses. On the global scale, Hong Kong has maintained its long-standing position as the world’s most expensive city to live in.
The survey, conducted by a leading global consulting firm, assessed over 200 cities worldwide based on various parameters such as housing costs, transportation, food, utilities, and lifestyle expenses. The findings underline a growing urban divide as Indian megacities continue to experience escalating costs, driven by high demand for housing, premium goods, and services.
Mumbai, India’s commercial powerhouse, owes its top position to steep real estate prices, high fuel costs, and a rising demand for global brands and imported goods. The cost of renting a two-bedroom apartment in central Mumbai, for instance, can rival that of major international cities, making it increasingly difficult for middle-income families to manage household budgets.
Delhi, the national capital, stood second among Indian cities but significantly behind Mumbai in the overall Asian ranking
While Delhi’s living costs are elevated by factors such as air conditioning dependence, private schooling, and imported food items, the city still offers relatively more affordable housing options compared to Mumbai. Bengaluru and Chennai followed next, reflecting the growing expense of life in India’s tech and manufacturing hubs.
Experts suggest that Mumbai’s position is likely to remain unchanged in the near future, given the city’s role as India’s financial nucleus and the limited availability of land for affordable housing. The recent rise in fuel and utility costs, coupled with increased consumer spending on lifestyle products, has further contributed to inflationary pressures.
Globally, Hong Kong retained its top spot, followed by Zurich, Singapore, and Geneva. Tokyo also ranked among the top ten, reinforcing Asia’s status as home to some of the world’s priciest cities. Analysts note that the strength of local currencies, high rental demand, and import-dependent economies continue to influence the cost-of-living rankings.
