Shenzhen Ranks 14th Most Expensive City to Live In
Based on the Cost of Living Survey done by Mercer, Shenzhen is starting to be expensive to live in as it advanced its ranking three places to get the 14th spot among 207 cities following Hong Kong Shanghai and Beijing cities belonging to the top ten most expensive city to live in.
Meanwhile Hong Kong rose to second place from third and other Chinese cities rose by an average of eighteen places due to stronger yuan. Shanghai rose to sixth from tenth, Guangzhou to 15th from 25th and Beijing to seventh from 15th. This brings China to have nine cities in the top thirty most expensive cities to live in compared to four cities last year.
Statistics shown that housing costs and increases in commodities and service prices are some of the reasons for the increase in living costs in Shenzhen and in China, an investigating team from the National Statistics Bureau said that rent prices in the month of May alone have increased by 8.8 percent. Transportation costs have also increased due to the increase in fuel prices and the cost of gas have increased by 5.7 percent and 6.3 percent for diesel.
As city housing and rent prices kept increasing in the past years, for example renting a two bedroom apartment in Bantian in Longgang district was 2,200 a month. now its hard even to find or rent a room for 3,500.