Is the high cost of living in global cities worth it?

SINGAPORE (Sept 27): Global cities seem to continue to attract young professionals, despite the high costs of housing, according to Schroders.

In a September report, Tom Walker and Hugo Machin, co-heads of global real estate, securities, says, “Despite the cost, there are sound reasons why global cities continue to attract young professionals. We would argue that it’s misguided to focus on the high housing costs; being located in a global city is good value."

Purchasing a home may not be the priority of someone living in a global city. In the knowledge economy, just being in the right place is more important, even if it means putting off buying a home.

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