2025年世界价格地图

June24,2025 Authors Jim ReidGlobal Head of Macro andThematic Research+44-20-754-72943 Galina PozdnyakovaResearch Analyst+44-20-754-74994 Whicharetheworld’scheapestandmostexpensivecities?Mapping theWorld’sPrices,nowinits ninthedition,isthedefinitiveguidetoqualityof life,rentalcosts andpricesforphones,coffee,taxisandmorein69citiesfromAbuDhabitoZurich. Mapping the World’s Prices–2025 After a pandemic-induced pause, we’re back with the ninth edition of Mappingthe World's Prices—first launched in 2012. And there’s no better moment toreassess the global landscape of relative prices. Inflation has made a roaringcomeback over the last five years, currency swings are influencing purchasingpower, and the world’s cost-of-living leaderboard is shifting quickly. We'vefocused on 69 cities that matter most to global financial markets. If your portfoliocares about a city, it’s probably in here. So—how does your city stack up? Who has the best quality of life? Where aresalaries soaring? How much does a square metre of apartment cost you? Whereis rent breaking the bank? Where can you still afford to drink good wine and datewell? Where should yougo to buy a new iPhone? What does coffee, beer, cinematickets and denim cost around the world? We have a surprise new number one inthe quality of life stakes in this edition. A clue would be that this country is 90spots lower in the FIFA world footballrankings. Can you guess who it might be? When we first published this report, US cities were a bit of a bargain relative totheir developed market peers—rarely cracking the global top 10 for prices, or payfor that matter. Fast-forward a decade or so and the US is now jostling withGeneva and Zurich at the top of many of the charts. Yes, a strong dollar helped—but the story runs deeper: it’s a tale ofUSexceptionalism, Wall Street strength,and a tech sector that’s gone global (but has remained American led). That said, our DB House View suggests we might be nearing the top of the arc. If2012 marked “cheap US,” 2025 may represent “peak US”—at least in pricingterms. The policy mix at home hints at a correction in relative pricings, and by thetime we release the 2030 edition, the rankings could look quite different. One surprise in the report is how 'cheap' India remains versus its internationalpeers. It will likely be the third-largest economy in the world by the end of thedecade and remain one of the fastest growing. So Indian cities may have themost to climb inthe years ahead. In the report, you’ll find a bulleted summary section followed by some furthercommentary alongside selected charts showcasing the highest priced 25 citiesacross key categories—from rents to salaries to lifestyle costs. This is followedby the full tablesacross all 69 cities. As always, feel free to quote and reference the report. If so we would begrateful if you could attribute to the Deutsche Bank Research Institute. Feelfree to direct people to this report and many others atwww.dbresearch.com/research-institute. Summary Bullets: —Quality of Life:Luxembourg, Copenhagen, Amsterdam, Vienna and Helsinkiare our top 5 cities. Zurich and Geneva have slipped out of the top five ascost of living is the most expensive in the world. Global financial hubs Tokyo(26th), Paris (44th), Hong Kong (48th), London and New York (tied 50th) scorelower on liveability, hampered by expensive housing, long commutes, andhigh pollution levels. However this is a highly subjective measure. Frankfurtis climbing and is now 7th. —Salaries (net of taxes):Geneva, Zurich, San Francisco, Luxembourg andBoston top the ranks. London (17th), Paris (22nd) and Tokyo (38th) are lowerwhen looking at averages. —Salaries (net of taxes and rent):Geneva, Zurich, San Francisco andLuxembourg continue to be in the top 4 but Frankfurt jumps into the top 5due to lower rents than many of its peers.Paris (26th), Hong Kong (35th),Tokyo (36th), London (37th)and New York (41st) struggle as the average rentis very high relative to the average net salary. —Buying a city apartment (per sq. meter):Hong Kong prices have fallen c.-20% in 5 years but still top the list, followed by Zurich, Singapore, Seoul andGeneva. London (6th) and New York (7th) are just outside the top 5. Beijing(9th) highlights the elevated property prices in China. Paris (12th), Tokyo(21st), Frankfurt (25th) are "cheaper". The biggest climber over the last 5years is Dubai up 15 places to 37th. —Renting a 3-bed city apartment:New York tops the list, followed bySingapore, Boston, London and San Francisco. Hong Kong (7th), Paris (16th),Frankfurt (31st) and Tokyo (34th) are further back. —Utility bills:Even though rents are low, you can see the energy crisis inGermany first hand as Munich (top), Frankfurt and Berlin all make the topfive. Warsaw, Vienna and Prague also make the top 10 showing that Centraland Eastern European cities are counting the costs of the lack of cheapRussian gas. 18 out of the most expensive 20 cities are European. —Publi