New survey reveals relocation costs in 75 world cities

An online provider of moving services has created a ready reckoner for average move costs in the wake of Brexit and data on Millennials’ hunger to relocate.

Ranks of trucks parked
Movinga’s survey into the relocation plans of 5,000 potential Millennial movers (aged 25-35) found 50 per cent of the sample are looking to relocate in the next five years.To offer the group insights into the average costs of doing this, Movinga crunched the data on the four key factors it assesses contribute most to the total cost of an expat’s first month in a new home in 75 key cities across the globe.
  1. rent for a one-bedroom apartment in the city centre (35 square-metre apartment close to the city centre)
  2. cost of mobile phone set up and data plan
  3. price of a monthly public transportation pass
  4. food and drink for thirty days.
Movinga also calculated the average cost of a move for each city based on the price of removals for one person over the average relocation distance of 155 miles.

Cities in Africa and USA most costly to relocate to

Although the overall expense will differ depending for each unique move, Movinga believes the costs can be used as an indicator as to which locations are more or less expensive for moving services.Movinga found that Luanda (Angola), New York (US) and San Francisco (US) would dent relocatees’ first pay packet hardest. London came out as fifth most expensive, thanks to its high transport costs, in Movinga's interactive table of findings for its 2017 Relocation Price Index.In Asia and Australasia, Hong Kong was the priciest city to move to, in sixth place, followed by Sydney (Australia) and Singapore.

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Average relocation costs to UK cities

The results show London (UK) ranks fifth, with a basic first month living cost of £2,081.37. This is followed in the UK by Manchester, ranked in position 33, with a basic first month living cost of £1,025.67.These compare to the least expensive city Tunis, Tunisia, at £316.70, whilst Luanda, Angola came in as the most expensive at £2,594.85. For New York, in second, the relocation cost for the first month was £2,455.88, following by £2,428.29 for San Francisco.

Brexit relocation costs to Europe

Commenting on the tool’s relevance, Finn Hänsel, Movinga's managing director, said: “Berlin, Paris, Frankfurt, Dublin and Amsterdam; these are all cities that may be preparing for an influx of banking industry workers due to Brexit.“Among the factors that the directors of the banks will have to take into consideration for relocating will be the cost of relocating for employees. Therefore, studies like this will be very important in the years to come.”

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