Moscow

In 2006, Mercer Human Resources Consulting named Moscow the world's most expensive city for expatriate employees, ahead of perennial winner Tokyo, due to the stable Russian ruble as well as increasing housing prices within the city. Moscow also ranked first in the 2007 edition and 2008 edition of the survey. However, Tokyo has overtaken Moscow as the most expensive city in the world, placing Moscow at third and behind Osaka at second.
In 2008, Moscow ranked top on the list of most expensive cities for the third year in a row.