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People all over the world dream of living in the world’s biggest cities. From New York to Seoul, children grow up with hopes of living lavishly in high rise apartments overlooking the city. However, living in the most famous cities in the world has drawbacks. Specifically, everyone wants to be there. All too often, the cost of living in these opportunistic places is higher than expected. Sadly, the best places to live are often the most expensive cities in the world.

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1. Hong Kong

Hong Kong is repeatedly ranked as one of the most expensive cities in the world. Rent is a significant factor in a high cost of living, with the average price for a one-bedroom apartment sitting between $1500 to $2300, depending on the proximity to the city’s center. Because Hong Kong’s residents make larger salaries compared to other cities and because most goods are imported in this small autonomous territory, prices tend to be higher for average goods than they may be in other nearby countries.

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