Afrigather As the worldwide financial panorama shifts, Africa stays a key area in discussions about the price of residing.
In line with the present Value of Dwelling Index from Numbeo for 2024, cities throughout the continent exhibit appreciable variations in residing bills, formed by elements corresponding to housing, meals, transportation, and utilities.
This index compares client items costs (excluding hire) relative to New York Metropolis, which serves as a benchmark with an index of 100%, serving to to contextualize the price of residing in African cities in opposition to world requirements.
Learn additionally: 5 costliest cities in Africa for residing mid-year 2024
Listed below are 5 cities in Africa with the very best price of residing in Q3 2024
1. Gaborone, Botswana – 44.6
Gaborone tops the record with its excessive demand for housing and reliance on imported items, pushing costs up throughout key sectors. Rising rental and transportation prices considerably contribute to its elevated index.
2. Accra, Ghana – 38.3
Accra’s excessive residing prices are pushed by hovering actual property costs and town’s reliance on imported items. Meals, transportation, and housing contribute considerably to the general expense in Ghana’s capital.
Learn additionally: Prime 10 costliest cities in Africa – Costs in USD/m²
3. Johannesburg, South Africa – 37.0
Johannesburg’s price of residing is fueled by costly actual property and rising utility prices, particularly electrical energy. Transportation bills add to town’s excessive residing index, with many residents depending on vehicles.
4. Harare, Zimbabwe – 37.0
Harare faces excessive residing prices because of inflation and reliance on imports. Costly housing, meals costs, and erratic transportation prices contribute to its elevated index.
Learn additionally: Africa’s 10 costliest cities for worldwide employees in 2024
5. Port Elizabeth, South Africa – 34.9
Port Elizabeth rounds out the record, with rising utility and housing prices pushed by its rising industrial base. Transportation additionally performs a major function within the metropolis’s residing bills.
Key Takeaways
The modifications from mid-year 2024 mirror shifts within the financial dynamics of African cities. Johannesburg, although nonetheless among the many costliest, noticed a slight decline in its index. Pretoria, Cape City, Lagos, and Durban dropped out of the highest 5 by Q3, exhibiting changes in housing, utilities, and transportation prices. The variations between mid-year and Q3 spotlight the fluidity of residing bills as influenced by regional and world elements.
Chisom Michael
Chisom Michael is an information analyst (viewers engagement) and author at BusinessDay, with numerous expertise within the media trade. He holds a BSc in Industrial Physics from Imo State College and an MEng in Pc Science and Expertise from Liaoning Univerisity of Expertise China. He specialises in listicle writing, profiles and leveraging his abilities in viewers engagement evaluation and data-driven insights to create compelling content material that resonates with readers.
