Paris ties Singapore, Hong Kong as world's most expensive cities

Zakaria ABDELKAFI / AFP

Paris has been named the world's most expensive city to live in alongside Hong Kong and Singapore.

The three cities were given joint first place in a report by The Economist Intelligence Unit.

Venezuelan capital Caracas and Damascus in Syria were named the cheapest places to be a resident. 

Oliver Whitfield-Miocic explains why it costs a pretty penny to be a Parisian. 

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