Economic news

British pound’s fall affects Londoners

London’s property for rent and shopping are close to the globe’s most expensive though incomes are currently less compared to other capitals like Paris or Berlin, UBS bank’s research demonstrates.

The UK capital stands at eighth place this year, as Zurich and Geneva lead the list of the costliest cities. However, in terms of gross incomes, London ranks 24th, as its wages are twice as little as in Geneva and around 30% less than in New York.

When the bank made the same measurement three years back, London’s prices were on sixth position and wages occupied 13th place.

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