Cost of living in London

Despite the high cost of living, London life can still be fully enjoyed if you can live within your means. London can be quite heavy in the pocket, but working expats can secure a competitive remuneration package that can make London life agreeable and rewarding.  

Accommodation   

London is a big city that offers numerous rental accommodations that will suit any working expats' budget or lifestyle. Expats should understand that London is divided into distinct travel zones starting from the city centre (Zone 1) into Greater London. The lower the zone, the higher the rental accommodation is.  

The monthly rent for a one bedroom flat in the west ranges from GBP£700 to GBP£800 per month. East and North London monthly rents range from GBP£650 to GBP£750 while South London has the cheaper rent at GBP£600 to GBP£700.  

Flat sharing in London is a great way to bring the housing cost down. Single expats can opt for flat sharing that can cost around GBP£280.00 to GBP£500.    

Utilities  

Electricity for a 100 square meter apartment can cost approximately GBP£35.00 (USD$53.48) monthly.   

Monthly costs for a telephone line costs GBP£25.00 (USD$38.20) and buying a low-cost mobile phone costs GBP£50.00 (USD$76.41).   

All residents are required to pay council tax when living in England. Council tax is a tax on domestic property, which is paid by either the homeowners or tenants. For more information, visit the website of Valuation Office Agency.   

Food   

There is no denying that eating out in London is very expensive, but one is assured that the city is a foodie's paradise. Expats can check famous areas to dine out like Mayfair, Covent Garden, Soho, and Chelsea.    

Expats can spend approximately GBP£10.00 (USD$15.28) for a fast food meal while dining in a restaurant can be more expensive. A three-course meal costs GBP£50.00 (USD$76.41) per person. Having a cup of coffee in a bar or a café costs GBP£2.50 (USD$3.82), and a beer costs GBP£3.00 (USD$4.58).   

In London, one can have a monthly budget for groceries from GBP£200.00 (for one person) to GBP£300.00 (for a family of four). A dozen of eggs costs GBP£1.80 (USD$2.75), a kilogramme of wheat bread costs GBP£0.80 (USD$1.22) and 500 grammes of cheese costs GBP£3.00 (USD$4.58). A litre of soda costs GBP£1.00 (USD$1.53) while buying a litre of mineral water costs less than a pound or USD$1.22.    

Newly arrived expats can check out London's oldest food market, "Borough" located near London Bridge Station on the main line National Rail network that offers fresh, organic and quality products. For more information, check the Borough market website.  

Transport  

A cab can cost GBP£1.80 (USD$2.75) per kilometre while taking a bus in the city is cheaper at GBP£1.50 (USD$2.29) per three kilometres.    

Fuel cost is at GBP£75.00. The selling price of a second hand 2008 Audi is GBP£10,599.99 while the cheapest car is a 2002 Volkswagen Passat that costs GBP£2,999.00. Annual car repairs cost GBP£300.00, and car insurance costs GBP£500.00.