....it is also the coffee, rents and local transportation. London has shot up the league table of the World's most expensive cities. It is now second, just after Moscow.
We might be crap at football, tennis and cricket, but when it comes to ripping each other off, we are second only to the Russians. But fear not, next year we might gain top place. We are importing quite a bit of Russian talent at the moment; 250,000 dodgy oligarchs have bought property in London. That should raise our game.
London has leapt up the global league of the most expensive cities for expatriate business-people to live in, as steep housing costs combine with a strengthening pound to send its living costs soaring.
In the influential annual ranking of costs in 143 of the world’s top cities from Mercer, the consultancy, the capital jumped three places to become the world’s second-most expensive location – up from fifth place last year.
Top place in the league was taken by Moscow, for the second successive year. The city is more than a third pricier for expatriates than New York, which the survey uses as a basis for comparing its extensive tally of the costs of housing, transport, food, clothing, household goods and entertainment worldwide.
London is 26 per cent costlier than New York, Mercer found – a sharp rise from last year, when the results estimate that it was only 10 per cent dearer for expatriates.
A key factor in London’s cost remains accommodation, with monthly rental of a luxury, two-bedroom flat estimated at £2,000 – double or more the typical cost of a flat in most European cities.