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Five most expensive cities in Africa for living mid-year 2024

5 expensive cities in Africa for living mid-year 2024

In mid-2024, several African cities have become cost hotspots and expensive due to factors like inflation, currency fluctuations, and local economic conditions.

According to Numbeo, the Cost of Living Index compares consumer goods prices (excluding rent) relative to New York City, with an index of 100% for NYC.

South African cities notably dominate, reflecting economic prominence and rapid urbanization challenges. Urbanization accelerates, pressuring housing and infrastructure, compounded by currency and inflation impacts on daily expenses.

Read also: 10 countries in Africa with highest cost of living in 2024

As cities strive for sustainable growth, understanding living cost dynamics is crucial for residents, businesses, and policymakers managing these urban centers’ expenses and opportunities.

Here are 5 cities in Africa with the highest cost of living mid-year 2024

Johannesburg, South Africa – Cost of Living Index: 38.4

Johannesburg, the economic powerhouse of South Africa, tops the list. As a major financial hub and home to numerous multinational corporations, Johannesburg attracts a diverse population, driving up housing and utility costs significantly.

Pretoria, South Africa – Cost of Living Index: 35.3

The administrative capital of South Africa follows closely. Known for its government institutions and diplomatic presence, Pretoria sustains high living expenses, particularly in terms of housing and education.

Read also: Here are African countries with the lowest cost of living in 2024

Cape Town, South Africa – Cost of Living Index: 35.2

Cape Town, renowned for its natural beauty and vibrant cultural scene, maintains a significant cost of living. The city’s appeal as a tourist destination and its desirable lifestyle contribute to elevated costs across various sectors, including dining and entertainment.

Lagos, Nigeria – Cost of Living Index: 35.1

In West Africa, Lagos stands out as a city with considerable living expenses. As Nigeria’s commercial capital and one of the fastest-growing cities globally, Lagos faces significant challenges in infrastructure development, impacting costs for residents and businesses alike.

Durban, South Africa – Cost of Living Index: 32.9

Rounding off the list is Durban, known for its pleasant climate and coastal lifestyle. Durban experiences rising living costs, driven by demand for housing and recreational activities.