Beirut was the eighth most expensive city in the world and the number one costliest city in the Middle East for two and three bedroom apartment rentals for expatriates in 2012, according to a survey by EuroCost International.
The capital city of Lebanon moved up two notches from 10th place in 2011 ahead of Abu Dhabi in place 29th, Riyadh at 50, Dubai at 55, according to the survey.
Tokyo remains the most expensive city in the world followed by Hong Kong, London, Moscow, New York, Singapore and Osaka in 7th place.
The survey which looks at the rental cost of two and three bedroom apartments for expatriates reviews data of the local market for foreigners rather than at prices for the local population of the respective city.
The locations selected for the survey are residential areas frequented by expatriates and the study includes units that are of high quality and likely to be selected by multinational companies when they hire and relocate employees.
Luanda in Angola was ranked the 9th most expensive city, followed by South Sudan’s Juba in 10th place, Mumbai in 11 and Sydney twelfth place.