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The phrase "an expensive proposition" is correct and usable in written English.
It can be used when discussing something that requires a significant financial investment or cost.
Example: "Upgrading the entire office infrastructure is an expensive proposition that we need to consider carefully."
Alternatives: "a costly endeavor" or "a high-priced option".
Exact(60)
It's an expensive proposition.
It is also an expensive proposition".
But it was an expensive proposition.
(And reclaiming it becomes an expensive proposition).
It's an expensive proposition, too.
Marriage can be an expensive proposition.
"It's an expensive proposition," she said.
"I understand that's an expensive proposition".
But that has become an expensive proposition.
But having children is an expensive proposition.
Furthermore, buying and maintaining a car is an expensive proposition.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com