Annual accommodation cost: $114,010
Change from December 2015: 2%
Move over London. New York has ended the British capital's 2½-year reign as the world's most expensive city in which to accommodate employees.

That's according to the real estate firm Savills, which attributes London's fall to the plunge in the pound following the U.K. vote in June to leave the European Union.

The price tag for employers to accommodate staff in New York is now "well ahead of Hong Kong and London and almost twice the price of nearest U.S. rival San Francisco," Savills says.

It arrived at its ranking by examining residential and office rental costs in cities around the world. Here's the top 10.

2. Hong Kong

Annual accommodation cost: $100,984
Change from December 2015: 1%
Asia's most expensive city for living and working accommodation has edged just ahead of London.

3. London

Annual accommodation cost: $100,141
Change from December 2015: -11%
The drop in the pound after vote to leave the EU has made London "very much more competitive on the world stage," Savills says.

4. Tokyo

Annual accommodation cost: $85,332
Change from December 2015: 22%

5. Paris

Annual accommodation cost: $82,881
Change from December 2015: 6%

6. San Francisco

Annual accommodation cost: $66,269
Change from December 2015: 0%

7. Singapore

Annual accommodation cost: $61,335
Change from December 2015: 1%

8. Dubai

Annual accommodation cost: $53,913
Change from December 2015: -7%

9. Sydney

Annual accommodation cost: $50,768
Change from December 2015: 3%

10. Los Angeles

Annual accommodation cost: $50,215
Change from December 2015: 3%