The Savills Blog

A decade of change in the cost of city living and working

Worldwide cities

Since 2008, the Savills Live/Work Index has tracked annual accommodation costs per worker in the top world class 20 cities. Our chart below, which measures the average cost per worker of renting both office space and housing, shows how the rankings have changed over time.

Savills Live/Work Index 2008-2016

Savills Live/Work ranking, in US dollars

Image treatment

Savills World Research

Key facts and figures:

Five cities have held the top spots

New York, Hong Kong, London, Paris and Tokyo have remained the five most expensive cities (in varying combinations) for almost a decade.

New York has overtaken London

London ceased to be the most expensive city in 2016, mainly due to a weaker pound in the wake of the Brexit vote. Its costs are now nearer Paris and Tokyo.

The rise of San Francisco

The city has gone from 11th place in 2008 to sixth in 2016. Being a booming tech city where everyone wants to be has driven up real estate costs.

LA up, Singapore down

Los Angeles has leapfrogged Singapore, which has seen falling commercial and residential rents.

The dramatic fall – and rise – of Dubai and Dublin

Our cost measure captures the real estate market crashes and recoveries in these cities.

Moscow and commodities

Lower oil prices have reduced occupier demand and driven down property costs in Moscow, which has slipped from sixth place to 14th in less than three years.


Further information

Visit Savills World Research


Recommended articles