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Moscow Is World's Most Expensive City

A Bentley car showroom in Moscow (ITAR-TASS) June 26, 2006 -- A new survey says Moscow is the world's most expensive city.

The Russian capital moved up three spots over the year due to a boom in the price of property. The survey, by the Mercer Human Resource Consulting, ranked the next most expensive cities as Seoul, Tokyo, Hong Kong, and London.

The least expensive of the 144 cities surveyed was Asuncion, the capital of Paraguay.