London is a massive, hulking behemoth of a city. More than 8 million people live in a total area of nearly one thousand square miles. The GVA total here is £396 billion. That’s £45,046 per capita! Contact us to learn more about apartment rental agency
The size and scale of the Big Smoke, not to mention the potential for opportunities, dictate that the prices on the market stay high. And so they say that London is “expensive”. This might be true compared to a tiny town in the middle of nowhere, but is London truly expensive for a capital city?
More importantly, are your investments in living here worth it?
Let’s try to answer this question once and for all.
We should start by asking the elephant – politely because that’s how we do things in London – to leave the room. Yes, we will be talking about housing now. One month of rent for a decent flat will cost you anything from 1,500 to 1,700 pounds. Sure, the prices may vary from property to property based on many factors like location, commuting convenience, and utilities, but we are talking about the golden middle here.
Then there are utilities, necessities, and convenience items like TV, the Internet, Netflix, household items, etc.
Everything you’ll need to live under a decent, comfortable roof will cost you 2,000-2,500 pounds per month, depending on your flat if you live alone. Share your room with a friend or significant other, and you’ll pay 50% of that.
Sounds like a lot, doesn’t it? Well, let’s compare London to New York. The price of a one-bedroom apartment there in the Center is $3,175 on average, which is significantly more expensive. Paris will be worth 1,145 euros per month. That’s pretty close to what we have in London, but don’t mind the difference in the industrial scale of the two cities. There are much more opportunities for you in the Big Smoke.
So, is the rent here worth it? I’d say so.
London is a large city, that is true. But having a car here is barely a fitting solution. For starters, owning a car is expensive. You must pay for expensive car insurance services and need an extra parking space. This may lead to up to 1,000 pounds of additional expenses.
Secondly, getting around in the car is inconvenient. You will be stuck in traffic above the ground while the savvier Londoners are blitzing through the capital underground.
Yes, we have one of the best public transportation systems in the world. You’ll have to invest a hundred pounds or so into the balance of your Oyster card, and you’ll be free to travel wherever and whenever you want.
Within city limits.
Leaving London is painfully expensive for some unknown reasons. A trip to Oxford or Brighton (and that’s like an hour or so ride) is £30. The further you go, the more expensive the ticket, so I’d suggest you keep that in mind.
People often believe that we have free healthcare in London. We don’t. Well, technical, we do, but that which is free is barely healthy and most definitely not ‘caring’.
On the other hand, the treatment provided by a private practitioner is decent and not too expensive. One visit to a doctor is anywhere around 50 to 70 pounds. It’s not too much if compared to America or even Europe.
Drugs and medicine are rather cheap in London. The most common pills you might need to treat something like a cold or a headache won’t cost you more than a few pounds.
Yes, you should avoid getting sick anywhere in the world, but if you do in London, it will not cost you a fortune.
Regarding food, there’s not much to write home about. We have great food that’s cheap, so a home-cooked meal is a delicious treat and a much cheaper option.
Going out for dinner, on the other hand… That’s a different story.
If we discuss a pleasant evening in a pub, one decent beer will cost you 5 pounds. So will a glass of good wine. A burger, a pizza, or fish and chips are worth approximately 10 pounds each. The fancier the place you are going to, the higher the prices. Do the math.
Yes, eating out is not too cheap in London. This has led to a false stereotype that all entertainment in the Big Smoke is expensive. It is not. The museums, the galleries, the pubs, and many open-air events taking place every day of the week are 100% free. Have as much fun as your soul desires.
What do we have in the endgame? Is London an overly expensive city, as they say?
No, it isn’t. It’s not even as expensive as some other capitals and major cities from all around the globe.
Yes, some of the prices here may seem over the top to young people who are still settling in, students, or new people at the beginning of their career path, but the opportunities for business and growth compensate for the minor inconveniences plentifully.
And what do you think about London’s price tags? Do they seem overblown to you, or are you okay with paying extra for the comfort of one of the world’s most influential cities?