The World's Priciest Cities

The latest cost of living survey by Swiss bank UBS has European cities as the most expensive places to live, while residents of North American cities are the highest paid.

After Oslo and London, "Copenhagen, Zurich and Tokyo round out the top five, with New York in seventh place globally. But London and New York are the most expensive cities when housing costs are included, said the 52-page report."

"It's no wonder that their residents often tolerate extreme commutes in order to find affordable housing," the report said.

"Kuala Lumpur was the cheapest city, followed by Mumbai, Buenos Aires and Delhi. Delhi was also among the bottom five cities in both the wages and purchasing power rankings."