Five U.S. cities are among the top 15 in a new ranking of the most expensive global cities in which to accommodate employees with housing and office space. New York, San Francisco, and Los Angeles are in the top 10.
The rankings are from international real estate adviser Savills, which maintains a Live-Work Index comparing total housing and office rental costs per capita in leading cities around the world.
New York is now No. 1, knocking London out of the top spot after two and a half years. The reason for London’s fall? The decline of the British pound after the “Brexit” vote to leave the European Union, lowering London costs by 11 percent in the first half of 2016. Meanwhile, the cost of putting up a worker in New York grew 2 percent, to about $114,000 annually.
Los Angeles costs going up
Expenses in Los Angeles have grown 3 percent since December 2015, hitting about $50,000 annually, while costs in San Francisco have held steady at about $66,000, according to Savills.
Here’s a more detailed look at Savills’ most expensive world cities for housing and office space for a worker.
|Rank||City||Costs per worker,
|20||Rio de Janeiro||$19,189||14%|