The cost of living well in London.

Our verdict. London is the Atlas's benchmark and its most expensive year. It suits a family for whom the school matters most and the bill matters less: Westminster charges £52,446 a year for the sixth form, VAT included, and a live-out nanny in inner London costs about £56,000. The catch is tax. The non-dom regime ended on 6 April 2025; newcomers now get four years free of UK tax on foreign income and gains, then pay up to 45% on worldwide income. The city's millionaire count is down 12% in ten years. Against Dubai, a prime square metre in Mayfair costs about three times as much, and Dubai levies no personal income tax.

1. A prime family home, rented2026£217k

   £217,204 a year · Average rent for luxury houses let in London at £1,000 a week or more, first half of 2026: £4,177 a week (£217,204 a year, as stated by the survey); the average house let was about 2,275 sq ft (about 211 m²)

   Beauchamp Estates, Millionaires Letting in London Survey (H1 2026), as reported by The National (25 Sep 2026) and Elite Agent, H1 2026 (reported 25 Sep 2026)

2. Senior school fees, two children2026-27£105k

   £52,446 a year a child · Westminster School, 16+ (Sixth Form, Years 12-13) day pupil fee £17,482/term x 3, incl. 20% VAT

   Westminster School fees page, 2026-27 academic year

3. Membership at a leading golf club2026£20k

   £20,000 a year in subscriptions · joining £200,000 · Wentworth Club debenture £200,000 + annual fees £20,000, as reported by National Club Golfer (17 Sep 2026). Not published by the club.

   National Club Golfer, "How much is a membership at Wentworth?" (17 Sep 2026), Reported Sep 2026

4. A berth for a 20 m yacht2026£53k

   £52,752 a year · St Katharine Docks 16.1m-<20m band, monthly visitor rates: 6 peak months (Apr-Sep) x £4,880 + 6 off-peak months x £3,912, incl. 20% VAT

   St Katharine Docks Marina Tariff 2026 (PDF), 2026 tariff

5. A full-time housekeeper or nanny2026£56k

   £56,238 a year · Full-time live-out nanny, Inner London, gross £56,238/yr (£21.63/hr, 50 hrs/week)

   Nannytax 2026 Nanny Salary Guide, 2026 (based on 2026 payroll data)

6. Tasting menu for two, twice a month2026£13k

   £550 a dinner · CORE by Clare Smyth (Michelin 3 stars), Core Seasons tasting menu £275 pp x 2, food only, incl. VAT, excl. service

   CORE by Clare Smyth menus page; Michelin Guide London 3-star list, menu page checked 20 Oct 2026

Figures are published prices, fees and surveys as dated, converted to pounds at the stated rates. They change, vary by home, school year and membership, and are a guide, not a quote. Nothing here is financial, tax or legal advice.

• Monaco£313k−3%
• Dubai£307k−5%
• New York£255k−21%
• Hong Kong£208k−35%
• Miami£176k−45%
• Los Angeles£174k−46%
• Milan£171k−47%
• Paris£160k−50%
• Geneva£152k−53%
• Singapore£147k−54%
• Abu Dhabi£145k−55%
• Amsterdam£120k−63%
• Bangkok£112k−65%
• Riyadh£108k−66%
• Munich£104k−68%
• Manchester£95k−70%
• Lisbon£93k−71%
• Doha£89k−72%
• Muscat£80k−75%
• Marbella£78k−76%
• Phuket£70k−78%
• Jeddah£68k−79%
• Kuala Lumpur£59k−82%
• Manama£36k−89%
• Kuwait City£25k−92%

Pounds at ECB reference rates (Gulf currencies at their dollar pegs) rates of 2026-10-20.