2018 First Month Relocation Costs Index - Study reveals the initial costs involved with relocating to some of the most in-demand cities around the world
Dubai, UAE is the most expensive city to relocate to, based on a first month living cost of €3,632.65, with high rent prices and visa fees. Cairo, Egypt is the least expensive city to relocate to, based on a first month living cost of €560.41, with cheap rent prices and affordable food and drink. Warsaw, Poland, ranks #70, with the first month living cost amounting to €887.94.
Furnished apartment search engine, Nestpick, has released a study revealing the first month living costs involved with relocating to 80 cities around the globe. From years of experience helping individuals to move, Nestpick knows that the initial costs involved with relocation can vary widely depending on location. To help those looking to move, the furnished apartment and room aggregator decided to investigate the general costs that a person might incur during their first month in a new city. The index is designed to be an indicator of the cost of relocating to some of the world’s most in-demand cities, and therefore a useful tool for the increasing numbers of digital nomads, millennials, students and expats who are seeking work and life opportunities abroad.
To begin the study, Nestpick first looked at the most popular destinations for work opportunities, top universities and thriving start-up cultures, before finalising a list of 80 cities from all around the globe. To calculate the cost of moving to each place, the search engine first researched the potential immigration factors such as a possible visa fee, and the visa processing time. Next, the living costs for the first month were calculated, covering rent prices, internet cost, phone service, food and drink expenses and any public transport costs. The final index is then ranked from most to least expensive, based on the total cost involved for the first month of relocation.
“The world has never been more accessible than it is right now to those seeking out employment opportunities, cultural exchanges or remote working hubs. In the last few years especially, we’ve seen trends that more people than ever are relocating to far-flung destinations which have rapidly digitalized. It’s now equally as possible to find 4G on a beach as it is in a built-up city,” comments Ömer Kücükdere, Managing Director of Nestpick. “The cost of living is often a huge factor for those looking to move, with the initial month almost always incurring extra costs due to potential visa applications. We hope that this index serves as a good indicator of how affordable or expensive many of the most popular remote working destinations are around the world, and will help those seeking opportunities abroad to make a smart decision.”