Moving to Seoul More Expensive Than to Tokyo

The cost of settling in Seoul is more expensive than in Tokyo, according to a study by German relocation service Movinga.

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The study shows the cost of relocation and living in Seoul for the first three months totaling US$7,641, the 25th most expensive among 85 major cities in the world.

The estimate is based on the cost of living in an Airbnb for a month and then moving to a monthly rental afterwards, plus transportation, eating, mobile phone and Internet connection costs.

Transportation costs ($38 a month), communication costs ($22), Airbnb rental ($544) and Internet connection fees ($21) were relatively cheap in Seoul, but the costs snowballs due to rent deposits and monthly rent ($1,738 a month).

San Francisco is the most expensive city with $13,531 in relocation costs, followed by New York ($12,041) and Geneva ($11,694).

In contrast, Sofia, Bulgaria ($2,282), Istanbul ($2,054) and New Delhi ($1,735) that incurred initial settlement costs of only $600 to $700 a month.

In Asia, it costs $11,631 to move to Hong Kong, making it the most-expensive city in the region. Next were Singapore ($9,630), Seoul and Tokyo ($7,617).

But when it comes to the costs for a four-member family, Seoul is relatively cheap with $12,380 or 36th, and only half of what it costs in San Francisco ($24,004) and cheaper than Tokyo ($15,613).