RELOCATION BLOG
To calculate each city's Cost of Living Index value, Expatistan starts by assigning a value of 100 to a central reference city (that happens to be Prague). Once the reference point has been established, the Price Index value of every other city in the database is calculated by comparing their cost of living to the cost of living in Prague.
Therefore, if a city has a Price Index of 134, that means that living there is 34% more expensive than living in Prague.
Official figures have measured new record highs (I know, it is hard to believe we are hearing this again...) for average house prices in the UK, with growth of 6.1% over the past year. The Office for National Statistics (ONS) measured a jump of £1,000 in the typical cost of a property between August and September. It left the average price at a new peak of £286,000.
This may be "good news" for the property industry, but it's not so great for home buyers, especially first-time buyers who traditionally drive the market.
To calculate each city's Cost of Living Index value, Expatistan starts by assigning a value of 100 to a central reference city (that happens to be Prague). Once the reference point has been established, the Price Index value of every other city in the database is calculated by comparing their cost of living to the cost of living in Prague.
Therefore, if a city has a Price Index of 134, that means that living there is 34% more expensive than living in Prague.
To calculate each city's Cost of Living Index value, Expatistan starts by assigning a value of 100 to a central reference city (that happens to be Prague). Once the reference point has been established, the Price Index value of every other city in the database is calculated by comparing their cost of living to the cost of living in Prague.
Therefore, if a city has a Price Index of 134, that means that living there is 34% more expensive than living in Prague.
