Yes but the average wage is different depending on where you are. Not to mention theres no personal income tax in monaco. Its all relative. Im sure if there was no personal income tax here we would be spending a lot more per sq/m.
So i disagree with your heading, as sydney ranking 34th on a per sq/m rate is not a true indicator as to how 'cheap it is' as different locations have different taxes, costs etc.
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