Tel Aviv, the coastal economic hub of the tiny State of Israel, has somehow surpassed the likes of London, Paris, New York City, Tokyo and Singapore to be crowned the world’s most expensive city in which to live.
It doesn’t seem possible, or even likely. And yet, those familiar with both Tel Aviv and any other affluent world metropolis can attest that it is true.
Ynetnews has published an insightful article on how this situation came to be.
The gist of it is that Tel Aviv was not planned and established to be the heart of a metropolitan cityscape. It remains a relatively small city (the population of Tel Aviv itself is just 400,000) with very limited land. On top of that, public transportation options connecting it to the surrounding towns where the other 4.5 million people live are even more limited than the land.
Compared to other major cities like Paris or Berlin that are much more spread-out and interconnected with surrounding towns it becomes increasingly clear why the Tel Aviv metropolis is struggling to remain affordable.