Moving to Austin: Price of Relocation Based on Living Costs
Furnished apartment search engine, Nestpick, has released a study revealing the first month living costs involved with relocating to 80 cities around the globe. From years of experience helping individuals to move, Nestpick knows that the initial costs involved with relocation can vary widely depending on location. To help those looking to move, the furnished apartment and room aggregator decided to investigate the general costs that a person might incur during their first month in a new city. The index is designed to be an indicator of the cost of relocating to some of the world’s most in-demand cities, and therefore a useful tool for the increasing numbers of digital nomads, millennials, students and expats who are seeking work and life opportunities abroad.
To begin the study, Nestpick first looked at the most popular destinations for work opportunities, top universities and thriving startup cultures, before finalizing a list of 80 cities from all around the globe. To calculate the cost of relocating to each place, the search engine first researched the potential immigration factors such as a possible visa fee, and the visa processing time. Next, the living costs for the first month were calculated, covering rent prices, internet cost, phone service, food and drink expenses and any public transport costs. The final index is then ranked from most to least expensive, based on the total cost involved for the first month of relocation.
“The world has never been more accessible than it is right now to those seeking out employment opportunities, cultural exchanges or remote working hubs,” said Ömer Kücükdere, Managing Director of Nestpick. “In the last few years especially, we’ve seen trends that more people than ever are relocating to far-flung destinations which have rapidly digitalized. It’s now equally as possible to find 4G on a beach as it is in a built-up city.
“The cost of living is often a huge factor for those looking to move,” he added, “with the initial month almost always incurring extra costs due to potential visa applications. We hope that this index serves as a good indicator of how affordable or expensive many of the most popular remote working destinations are around the world, and will help those seeking opportunities abroad to make a smart decision.”
Among the other findings of the study, New Zealand has the most expensive visa fees, at $2,159.46, while Hong Kong has the least expensive, at $24.19. New Zealand also has the longest visa processing time, at 381 days, while Thailand has the shortest, at two days.
San Francisco has the most expensive rent prices, at $2,379.54 while Bangalore, India, has the least expensive, at $160.72.
Dubai has the most expensive internet costs, at $111.02, while Moscow has the least expensive, at $5.59.
Zurich, Switzerland has the most expensive phone service prices, at $106.73, while Warsaw, Poland has the least expensive, at $5.48.
Zurich, Switzerland has the most expensive food and drink prices, at $1,193.96, while Bangalore, India has the least, at $255.97.
London, UK has the most expensive transport prices, at $168.71, while Cairo, Egypt has the least expensive, at $7.14.