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Vancouver most expensive city in Canada to live in: report

ABOVE: Vancouver and Toronto have been rated two of the most expensive cities in Canada. However, they are still affordable compared to the rest of the world, according to a new survey.

Vancouver has taken the throne as Canada’s most expensive city, according to a survey that examines cost of living around the world.

The Mercer 2017 Cost of Living Survey ranked 209 cities by comparing costs of housing, transportation, food, clothing, household goods and entertainment.

Vancouver ranked 107 on the list, which was the top spot for a city in Canada. It was followed by Toronto (119), Montreal (129), Calgary (143) and Ottawa (152).

READ MORE: Behold, Greater Vancouver’s most expensive real estate listing of all time

All five of the Canadian cities in the rankings climbed higher because of a weaker Canadian dollar, the survey found.

The survey also found Vancouver rated No. 1 because of “rapidly rising rents.”

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WATCH: The 5 most expensive homes in Canada

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The 5 most expensive homes in Canada – May 18, 2016

While the cost of living may be high in Canada, the five cities are still affordable compared to the rest of the world.

“Although the cost of living in Vancouver or Toronto may be high for locals, both cities remain attractive destinations for expatriates placed by organizations outside the country,” Gordon Frost, of Mercer Canada’s Career business said.

READ MORE: Canadian provinces ranked by average consumer debt: Equifax report

“Global costs give us some perspective: compared to the rest of the world, even with a strong dollar, Canada remains relatively affordable.”

Top 10 most expensive cities in the world

1. Luanda, Angola

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2. Hong Kong

3. Tokyo, Japan

4. Zurich, Switzerland

5. Singapore

6. Seoul, South Korea

7. Geneva, Switzerland

8. Shanghai, China

9. New York, United States

10. Bern, Switzerland

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