German Nestpick considers Bucharest third cheapest relocation destination

Newsroom 12/06/2018 | 10:57

Bucharest is the third cheapest city to relocate it, according to a study of German aggregator platform for midterm rental of furnished apartments Nestpick. With a EUR 644.26 cost of living in the first month of relocation, Bucharest is preceded by Bangalore (India) with EUR 633.71 cost in the first month and Cairo (Egypt), with EUR 560.41. The study points Dubai as the most expensive city in the world for relocating, with a cost of EUR 3,632.65 in the first month.

To begin the study, Nestpick first looked at the most popular destinations for work opportunities, top universities and thriving start-up cultures, before finalising a list of 80 cities from all around the globe.

The living costs for the first month were calculated, covering rent prices, internet cost, phone service, food and drink expenses and any public transport costs.

For Bucharest, Nestpick identified a EUR 120 cost of visa, EUR 239 for rent, EUR 251.7 for food&drink, while internet cost is around EUR 8.19 and EUR 12 for phone services. Transportation, according to Nestpick’s study, costs EUR 13.37.

“The world has never been more accessible than it is right now to those seeking out employment opportunities, cultural exchanges or remote working hubs. In the last few years especially, we have seen trends that more people than ever are relocating to far-flung destinations, which have rapidly digitalized. It’s now equally as possible to find 4G on a beach as it is in a built-up city,” comments Omer Kucukdere, managing director of Nestpick.

The top ten cheapest relocation cities for digital nomads, millennials, students and expats who are seeking work and life opportunities abroad, include another four east european cities. Budapest  (77th place) with a total cost of EUR 742.85, Riga (Letonia, 76 th place), costing EUR 795 a month, Sofia (74th) with EUR 812.36 cost for the forst month and Prague (73th) EUR 826.17

“The cost of living is often a huge factor for those looking to move, with the initial month almost always incurring extra costs due to potential visa applications. We hope that this index serves as a good indicator of how affordable or expensive many of the most popular remote working destinations are around the world, and will help those seeking opportunities abroad to make a smart decision,” completes Kucukdere.

The most expensive cities

For those who chose cities like Dubai, San Francisco or London, things are changing radically. Total costs for the first month of living in Dubai reach EUR 3,632.65, the most expensive city in the world for relocate in.

Second place belongs to Auckland with a monthly cost of EUR 3,429.14, and third is San Franciso, where life costs EUR 3,216 monthly, while the fourth and fifth place belongs to New York, EUR 2,879 and London, EUR 2,738.59.

There are three european cities in Top Ten, beside London, Oslo  (7th) EUR 2,494.35, Zurich (8th) EUR 2,474 and, finally, Amsterdam (10th) EUR 2,330,43.

Now, regarding Bucharest, the costs calculated by Nestpick, seem a bit underevaluated regarding transportation, EUR 13.37 is a lot less that the real prices. Only a metro ticket for a month costs above EUR 15. In the same time, rent costs are, as well, underevaluated, Bucharest rents for studios being around or above EUR 250.

So, Romanian capital might be more than the German search engine calculated, and the position of the city is probably above 78th place.

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