Hollywood and New York City are the top two cities that everyone would wish that they’d been to if they haven’t already. Have you ever heard such sayings or perhaps in a different context? As true as it may sound, we’d like to beg to differ. UK is the place that is worth your second thought because once you’re there, you will never want to leave. (Do You Need Permission to Work in UK?)
The United Kingdom has been known to hold supreme world power for the past two centuries. Although the two world wars have greatly affected its status, it still remains as one of the most influential, wealthiest and most powerful countries in the modern era.
At present, its economy ranks 5th with a GDP of over 2.3 trillion Euros and GDP of over 35,000 Euros per capita. The cost of living in the United Kingdom can differ depending the person’s lifestyle and location. Some provinces and countryside areas can offer cheap and very affordable living conditions while the busy major cities are more appropriate for those with higher salaries and privileges.
London is one of the three command centers for commerce and international business in the world. Living in this major city will definitely be pricey and cost of goods and services can be twice as much compared to smaller towns in the United Kingdom. Over the past few years, the country remained as the world’s largest financial center due to efforts by the London Stock Exchange and other institutions. There are also a number of islands around which offer quality living. Expatriates in the meantime are interested in investing in London regardless of living rates and condition. (Housing in the United Kingdom)
Food and Drinks Costs in the UK
The cost of food and drinks in the United Kingdom is generally high compared to other European nations. Most of the goods in major cities come from provincial harvests and are charged with value-added tax. Imported goods are also taxed which significantly increases their original value. The average Briton spends about 200 to 350 Euros every month on food. Grocery items and those found in supermarkets are possibly the cheapest expatriates can find. Some delis and community markets may offer lower costs depending on quality.
Usual meat products in the United Kingdom are pork, beef, lamb and venison. Poultry like chicken, goose and duck is also available. Eggs, fruits and vegetables like sauerkraut, asparagus, apples, oranges, pears, herbs and spices can be found in most food shops at high rates. Fish and seafood are expensive as well especially imported ones from Asia and the United States.
Varieties of crab, shrimp, tuna and prawn can range between 40 to 80 Euros on the average. British wine and beer are usually imported from Germany, Italy or France while there are also locally made ones. Prices differ little between the imported and local beverages but quality imported wines are the most expensive of all.
Clothing and Accessories Costs in the UK
Shopping in London for clothes and accessories can be quite expensive. There are several branded items and designer labels which have hefty price tags. Some local makers also make quality and excellent products with styles and technique handed down from generation to generation which explains the high cost of wares. Home appliances, electronic gadgets and trinkets are usually imported from Japan and are priced higher after tax is due.
The cost of cars in the United Kingdom can also be significantly higher compared to getting them from their places of origin like Germany and Italy. Nevertheless, Britons manage to afford the high cost of living and commodities. Most items found in the United Kingdom are expected to be slightly more expensive than anywhere else in the world.
Housing Costs in the UK
The cost of housing in United Kingdom has continued to increase over the past ten years at an average of 1.1% every year. Apartments located downtown can be very expensive while suburban houses are also quickly upping in value. Rental rates for a one-bedroom apartment can be anywhere from 200 to 300 Euros every month.
Bigger units with service swimming pools and other amenities can reach up to 2,000 Euros every month. Suburban homes with yards are available for rent from 500 to 1,500 Euros monthly. There are also a number of cheaper apartments with lesser quality in remote areas at 80 to 150 Euros a month. All these are priced depending on quality and location. Cheap accommodations usually exclude utilities.
Owning property in the United Kingdom is strictly for citizens only. Expatriates can own land provided that they have changed their citizenship or have legal implications like marriage or diplomatic documentation. Taxes on house building will be indicated as well as property management and right to ownership and maintenance. More affordable homes and land for sale can be found in the outskirts of smaller towns and vast farmlands. Accessibility to these areas are however questionable and utilities may not be as reliable.
Services Costs in the UK
The United Kingdom is one of the most advanced countries in the globe so telephone and internet services along with other communication links like cellular phone service and the like are ensured to be of top quality. Rates for internet usage are around 15 Euros every month while telephone rates depend on consumption.
Transportation in the United Kingdom is also very efficient and state-of-the-art. Train stations, bus stops and airports are usual terminals for the locals and expatriates which offer reasonable rates. One can travel quickly between destinations at any time of the day. Some expatriates also prefer buying private vehicles and these can be fairly expensive due to gas consumption.
Health care is another great service offered by the country. Insurance policies are well supported by respective institutions providing excellent services and modern approach and technology in treatment and rehabilitation. More than 10% of the country’s GDP is allocated to health care facilities due to the growing number of elderly population.
Employment Costs in the UK
Business, trade, stock exchange, commerce and tourism still comprise the bulk of the country’s financial support. Several slots are still available for expatriates in these areas. At present, the United Kingdom’s employment rate is at 96% which is one of the highest in the world. One of the nation’s strengths is equal distribution of occupations between the rural and urban areas. At the moment, the country is looking for more helping hands for health care centers and hospitals due to the rising number of sick people and aging individuals.
UK holds the highest and most powerful currency in the world, so it’s not strange that living in UK takes more than just mental stability for its tight competition but also, financial stability.
Source: Expat forum
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