London is now more expensive to live in than Monte Carlo, Monaco [Video]

London is officially less affordable than Monaco’s glamorous district of Monte Carlo.

As much as we love the big smoke, the housing and rental market has reached scarily high averages, with data from Zoopla showing that the average property price in London is an eye-watering £731,910.

After factoring in daily living costs, bills, transport, dinner and fun (if you’re even able to treat yourself), it can feel as though you’re splurging without even trying to.

The new numbers that look into how expensive London is to live were crunched by finance experts at Finansvalp, after gathering data from the cost-of-living website Numbeo to create an affordability index. 

Each city on the list, which includes Dublin, Bucharest and more, was given a score out of 100, based on eight factors – including accommodation, utility, transport and lifestyle costs.

The index factors in the monthly cost of renting a one-bedroom flat outside of the …