Australia’s 3 major cities have also been included in a ranking of the world’s most cost-effective cities.
Australia’s comparison website “Compare the Market” has made this ranking using 42 of the world’s most economically developed cities.
The city of Seoul, South Korea has reached the first place in this list and the unemployment rate is at the lowest value of 2.5 percent and it has been introduced as the most effective city in terms of economic costs.
In Seoul, the median annual salary for those employed is $70,680, and home prices have risen only about 11 percent over the past nine years.
The city of Brisbane in Australia has been named the second place and its very low public transport fares of 50 cents have attracted special attention.
In 3rd place is Luxembourg City, which will also benefit from free public transport from 2020, and a low rate of 3.65 percent.
Melbourne is ranked 7th and is not only the most livable city in Australia but also the most affordable city according to the rankings.
Sydney has reached the 13th place in this list.
Despite rising unaffordable house prices, Sydney is surprisingly ranked 13th in the cost of living rankings, experts say.
It has been revealed that the cost of living has become a problem for many people due to the rising cost of essentials such as housing prices, fuel and food globally.
