At Movinga, we’ve seen first-hand how a more connected world has led to opportunities for individuals and their families to move abroad. As relocation specialists, we know that settling into a new city doesn't happen in an instant, and that unforeseen costs can appear when you least expect it. To help those planning to relocate to prepare for their new lives abroad, we’ve conducted a study determining the landing costs associated with settling in to some of the most in-demand cities around the world.
To begin the study, we selected 85 cities around the world that are known for attracting expats due to their work opportunities and outstanding education, as well as those attracting new talent for their bustling start-up culture and alluring lifestyle. We then decided to split our research by looking into the costs for an individual to move versus as a family. Firstly, we determined the essential costs which occur when you first arrive in a city, from the day-to-day living expenses to rental prices. This covers transportation, food and drink, as well as a new phone plan.
Next, as it can often be difficult to secure a permanent home before you arrive in a new country due to challenging real estate markets in popular cities, we calculated the average cost of rent in temporary accommodation. In addition, the storage fee for keeping your belongings safe while searching for a permanent residence were included. Once a final home has been found, the deposit can often come as a hidden and large unforeseen expense, so we included one month’s deposit, in addition to the monthly rent and the cost of setting up an internet connection. The final index is ranked from most to least expensive, based on the total costs over a three-month timespan while finding a permanent home and settling into a new city.
“Despite the rise in anti-globalisation sentiment in recent years, there’s no sign of high skilled migration slowing down anytime soon. With a clear demand for certain skills, global companies are now competing with each other for top talent, which means that there are more opportunities across borders than ever before. With our mission to help people to relocate, we see that often individuals say yes to job opportunities because of the attractive offer, but don’t give as much thought to the realities of moving to a different city in terms of the real estate market and the true cost of living,” comments Finn Age Hänsel, Managing Director of Movinga. “We hope that this price index can help movers to better prepare for the realities and difficulties involved with relocating to some of the most in-demand cities in the world, while also inspiring those looking to make the leap to choose the best location based on their budget.”
The table below reveals the first three months’ costs associated with moving. The total column represents three months’ worth of ‘essentials’, in addition to one month in temporary accommodation and two months in a permanent residence. Each individual factor can be filtered by clicking on the icon at the top of the table.
Alternatively, you can download an image of the table below by clicking here.All figures in the table are in EUR (€).