Which are the ten most expensive cities to rent in the world? Different places have diverse economic factors along with varied government regulations that can amount to some vastly different standards when it comes to rental costs. Cost of living, taxes, facilities and conditions tend to fluctuate, depending on different factors such as population density, urban conditions, living standards and GDP levels.
Indeed some countries are well known for being among the most expensive in the world, and naturally, the rent prices at those places tend to be higher than in other countries. You can check out some of the Top 15 Most Expensive Countries in the World – 2014 on this list we’ve made. We have ranked nations, according to their consumer price index, but excluding accommodation expenses, such as mortgage and rent. Some of these countries are Norway, with a consumer price index of 144.45, Switzerland with a consumer price index of 143.88 or Denmark, with a price index of 114.87.
There is no doubt one of the larger impacts on total cost of living in different cities, is rentals. The rent expense can vary depending on the country, the state, the city and the neighborhood. Moreover, some Asian countries hold the top positions among the list of higher rental prices, as their population is very large, and accommodations do not abound. A high population density and a constrained property supply put these cities among the most expensive ones to live, regarding their rental prices. Nevertheless, some other cities, not as highly populated as Asian ones also hold high rents. Their popularity and attraction as tourist hotspots, their exclusiveness, or their total cost of living and living standards also imply higher rental prices.
This time we have compiled a list featuring the ten most expensive cities to rent in the world. The ranking has been made according to Global Property Guide’s research. The list takes into account buying price, price/rent ratio, rent per month (US$), and gross rental yield (%) for a 120 square meter apartment. The Buying Price per Square Meter, the Rent per Month (sq. m.), and the Gross Rental Yield are based on Global Property Guide’s yields research. The Price/Rent Ratio indicates the years of rent which would be required to buy such an apartment. Whether you were thinking of moving, or taking a long trip across the world, you should take into account these figures. Check out our countdown of the most expensive cities to rent in the world.
No. 10 Singapore
Rent per Month ($): 4,276
Buying Price US$ per Sq. M.: 17,709
Price/Rent Ratio (x): 41x
Gross Rental Yield: 2.41%
Our list of the most expensive cities to rent in the world continues on the next page with a Swiss entry that may surprise you.