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Vancouver has been dubbed the most expensive place to live in Canada, according to Mercer’s annual Cost of Living Survey.
The 25th annual survey revealed Vancouver dropped three spots to 112th place in the world, but is the priciest city to reside in the country.
Toronto took the second spot in Canada.
The annual Cost of Living Survey examines factors like the instability of housing markets, low inflation, and fluctuating prices for goods and services to determine its ranking.
In addition to Vancouver, Mercer noted that most Canadian cities remained stable in their rankings this year, with Toronto (115) dropping six places, Montreal (139) climbing eight spots, and Calgary (153) and Ottawa (161) remained stable.
The survey found that eight out of the top 10 of the world’s most expensive cities for expatriates are Asian cities, resulting from high costs for expatriate consumer goods and a dynamic housing market.
Globally, Hong Kong was ranked as the most expensive city in the world for the second consecutive year.
As for cheaper places to live, it might be time to move to Tunis, Tashkent, or Karachi.