London is second most expensive city in the world

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by Kay Murchie

The latest Cost of Living Survey by Mercer has revealed that the UK capital is the second most expensive city in the world. This is due to the continuing rise in property prices, together with high priced rates on public transport.

London has risen from being fifth place in the poll in 2006 with experts blaming the recent increase in public transport and the growth in UK property prices.

Moscow is in first place, followed closely by Tokyo, New York, Paris and Oslo.

Recent statistics illustrate that property prices in London are rising at their highest rate for more than 3 decades. The cost of renting a superior 2-bedroom flat in London is in the region of £2,000 per month – double the cost of a similar property in Rome.