In its annual cost of living survey, the Mercer consulting company put Sydney at number 19 on its list behind Moscow, Hong Kong, London and New York.
It's the only Australian city in the top fifty. Melbourne is Australia’s second most expensive city coming in at 74, Perth is number 93 and Brisbane just makes the top 100 at 99.
A property boom in Moscow has pushed the Russian capital to the top of the list. New York remains the most expensive North American city, just making it into the top 10 and London is the most expensive city in which to live in Europe.
However, a separate study has found that Sydney is still one of the most livable cities in the world.