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Hong Kong Remains World’s Highest Rent City, Moscow at #3
20.02.2012 16:38 / Interfax
Moscow is #3, as in the year before, Tokyo #2.
The remaining top 5 cities have remained the same – New York at #4, London at #5.
ECA International compared prices for 4-room (3 bedrooms plus dining/living room) unfurnished apartments in the world’s largest cities.
Average rent of a similar apartment in Hong Kong in Q4 2011 was $11813 per month - 15% more than year-to-year in 2010. The influx of foreigners to Hong Kong has led to one of the most significant rent surges in the world, comments ECA International.
In Tokay, the rent of a 4-room apartment averages $9450 per month.
Top 10 Asian cities includes Singapore at #9. In Europe the rent dramatically increased in Geneva, up from #13 to #7, and also in Stockholm and London.
In the list of cities rated by lowering rent in mid-tier, #1 went to Tokyo, displacing Hong Kong to #5.
On average the global apartment rent went up 4,5% in 2011, according to ECA International.