Tokyo cheaper than Prague; Swiss cities stay the world's most expensive

Deutsche Bank’s Mapping the World’s Prices 2026 compared living costs in 69 global cities. Zurich and Geneva topped the list as the most expensive, followed by Tel Aviv, New York and San Francisco. Tokyo, once a symbol of high prices in the 1990s, is now among the cheapest cities due to prolonged low inflation, stagnant wage growth and a weakened yen. A dinner for two in Tokyo costs less than in Prague, rent for a three‑room apartment is about a quarter of New York’s price, and Japan offers the world’s lowest iPhone price.

In contrast, Prague’s cost of living has risen sharply over the last decade. Real wages grew about 120 %, while housing prices surged roughly 150 % and three‑room rent increased by 115 %. Despite these hikes, Prague’s public transport remains relatively low‑priced. Swiss cities continue to command the highest prices worldwide, reflecting the country’s strong purchasing power. Additional notes highlighted Rome’s cheap wine, Tel Aviv’s pricey McDonald’s, and Hong Kong’s soaring property values.