A new research report shows that at the present several Australian capital cities are some of the most costly cities across the globe. Thanks to the recent augmentations seen in rent–and the overall expenses of everyday living–Perth & Darwin have become the 10th & 11th most pricey cities in the globe even as Sydney, reportedly, finds place at the 12th spot as the most costly city in the world, for residence purposes.

The study covers the living costs through 350-plus global cities throughout the world. The results place Down Under among the world’s worst reasonably priced nations, for living purposes. Only cities in the infamously costly countries of Switzerland & Norway cost more. The CPI of Sydney, i.e., the cost of daily expenditures–such as eateries, transportation, power, & other utilities—do poorly, more so the asking price of the usual groceries.

The study judges the prices against those seen in New York City. In case a city has a CPI index of, say, 120; it denotes the same is 20% more expensive to reside than in New York. This does not cover the cost of rent. The CPI of Sydney is 116, and the same makes it 16% poorer for the residents in the context of every day expenses.

Meanwhile, an observer claims that the nation has changed much, vis-à-vis what it was maybe just 5 years back. At that time–in the early 2000s–one could dispose-off a 3-bedroom terrace in the city of London to purchase a mansion in the Kangaroo Land with the money. Not anymore now!