CNN reports that Karachi, Pakistan is among the cheapest cities in the world.
The cheapest cities in the world are Paraguay’s Asuncion, Zimbabwe’s Harare, Buenos Aires, Manila, Pakistan’s Karachi, India’s Bangalore and Uruguay’s Montevideo.
To give a sense of just what life costs in various cities, Mercer priced out the cost of a two-bedroom unfurnished apartment, a cup of coffee served, a fast food meal and an international paper.
I can’t say I understand economics very much, but some economist somewhere is certanly smoking dope if they think Karachi is a cheap city. When was the last time they tried to fill a car in that city with petrol? And yes, have they tried to buy coffee at Espresso in Clifton? I couldn’t believe that on my last trip to Karachi I was paying more for coffee in Clifton than I would in Manhattan or downtown Boston.
Anyways….from the data its clear that the cost of a 2-bedroom apartment would trump over all other factors – and yes, my 1-bedroom condo in Boston would easily trade for a 3-5 bedroom house in a decent neighborhood in Karachi (at least it could a few years back).
Top 10 most expensive cities
4. Hong Kong
10. Oslo, New York (tied)
Source: Mercer Consulting
Cost of living in Boston?
Source: Cities Ranked and Rated, 2004