• The price of success

    The price of success

    Guess which is the world’s most expensive city. Tokyo perhaps? Moscow maybe? What about London? The answer is … Luanda.

    An annual cost-of-living survey by financial services consulting firm Mercer found the capital of Angola bypasses the usual suspects such as Hong Kong and Zurich (numbers two and three on the list respectively). Mercer’s list looks at the average cost-of-living for expats, which differs vastly compared to locals.

    To rent a two-bedroom apartment in Luanda, a foreigner will have to cough up around US$6 800 per month, while a local will pay about US$200 for accommodation. That said, the standards between the two will differ greatly – the Angolan household won’t have much of a view, for example.

    According to a How We Made It In Africa report, the economic boom the country has experienced over the last decade (driven by huge oil discoveries), coupled with the limited supply of luxurious housing, makes for a pricey place to reside.

    30 June 2015
    Image: Gallo/GettyImages