All of us have a dream city in mind where we want to live and spend time with the nature and surroundings of that city. So what’s your dream city?
Thought of an answer? But wait; have you thought of how much will the house cost you? How much will the monthly grocery and vegetables cost you? How much will the cost of living be?
These are the questions that come to our minds whenever we think of which city we want to live in. After all, budget is the most important factor at play.
For those of you who want to settle down in Mumbai, here is some good news. According to Julius Baer 2015 Wealth Report, the cost of living in luxury has come down in Mumbai making the Indian financial capital the cheapest place in Asia. The latest report has examined the price of top-end goods and services in 11 cities to tabulate the conclusion of this report.
Quite interestingly, according to the report, there has been a 9% depreciation in Mumbai’s prime property prices since 2014. This has made Mumbai the most cost-effective place to live in. The ‘City of Dreams’ scored last in the list of cities ranked by the cost of expensive goods followed by Kuala Lumpur in Malaysia, Manila in the Philippines and Jakarta in Indonesia.
The financial experts and economic scholars however believe that owing to country’s economic expansion, Indian cities may not remain cheaper in future.
Swiss private bank Julius Baer which has compiled the survey report has lauded the Indian government for maintaining a stable economic growth.
As per the report, Mumbai is the cheapest city to live and if you are planning to gift a diamond ring to your partner then, Mumbai is definitely the place for you and Bangkok can burn a hole in your pocket if you are planning to shop jewels. But if you need a private room in a decent hospital then Mumbai ranks fifth from the top in terms of cost effectiveness and Taipei is the cheapest in that regard.
If you need to sort out your legal troubles, you can probably hire a lawyer from Tokyo as according to the report, Tokyo tops the chart as the cheapest city in terms of lawyer payments. Kuala Lumpur on the other hand is way too expensive if you are willing to hire a lawyer.
So which city are you planning to visit?