Soaring rents and house prices mean that housing is now an eye-watering 22 percent more expensive in London than it is in famously pricey Oslo, Expatistan, a cost of living comparison company, said in a report this month.
Renting an 85m2 flat in an upmarket part of London now costs the equivalent of 27,023 kroner ($4,387), compared to a reasonable 18,263 kroner in Oslo.
Together with the high cost of transport (26 percent more than Oslo), this brought London a score of 280, compared to Oslo's 267.
In 2013, Oslo pipped Tokyo to the title of the world's most expensive city, with a score of 266, while London languished in fourth place with a score of 231.
This year, as in 2013, Geneva came third, with a score of 259, followed by Zurich (256) and New York (237).
However, it will come as little surprise to long-suffering Oslo residents that their city still tops the charts when it comes to everyday consumables, with food a staggering 60 percent more expensive than in London.
A meal in a restaurant in Oslo's business district costs 252 kroner, the company estimates, 84 percent higher than in London, while the cost of a Big Mac meal, at about 96 kroner, is 70 percent higher.
Meanwhile a bottle of halfway decent table wine will set you back 187 kroner, more than double what it costs in London.
Expatistan's Cost of Living Index (Table form)
Ranking City Price Index *
1 London (United Kingdom) 280
2 Oslo (Norway) 267
3 Geneva (Switzerland) 259
4 Zurich (Switzerland) 256
5 New York City (United States) 237
6 Lausanne (Switzerland) 233
7 Singapore (Singapore) 228
8 Paris (France) 219
9 San Francisco (United States) 218
10 Copenhagen (Denmark) 217
11 Sydney (Australia) 215
12 Hong Kong (Hong Kong) 214
13 Brisbane (Australia) 208
14 The Hague (Netherlands) 204
15 Stockholm (Sweden) 204