The Mercer league table of the cost of living in cities across the world show that while the two cities are the most expensive in Canada, they have taken a sharp drop down the global rankings.
is now 119th
, down 23 places from last year; Toronto
is at 126th
, down 25 places. Montreal is down to 140th
, down 17 places since 2014, while Calgary
fell 21 places to 146th
Nathalie Constantin-Métral, principal at Mercer, noted: “The Canadian dollar continues to weaken against the U.S. dollar, triggering major slips in this year’s ranking.”
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Vancouver and Toronto may be out of the reach of many homebuyers but, on a global scale, they have become more affordable.