Top 50 Most Expensive Cities in the world To Rent An Apartment, 2015 Report
The New York City has been ranked the most expensive city in the world to rent property in, renting a furnished 2-bedroom in the Big Apple costs an average of $4,620 a month, according to the Prices and Earnings 2015 report.
But renters in four other cities have it worse: In Hong Kong, the average 2-bedroom apartment rents for $4,410; in London, for $2,840; in Geneva, $2,810; and in Chicago, $2,520.
Sofia, however, is one of the cheapest places, for the cost of 1 month’s rent in the New York City, you could rent an apartment for 17 months in the Bulgaria capital.
The average rent for a 2-room furnished apartment per month in the New York City would be $4,620 compared to New Delhi, India’s capital, where it would be $570 and Beijing where a similar apartment would cost an average of $1,150 per month.
Public transport is also quite expensive for a New Yorker, a cab would cost close to $11.67 for a distance of 5 km in the New York City, the same distance for Londoners would cost $10.09, according to the cities with the most expensive taxi fares in the world, 2015 study by UBS.
Among the cheapest places are Sofia in Bulgaria ($270 per month), Kiev in Ukraine ($400 per month), Bucharest in Romania ($420 per month), and Prague in the Czech Republic ($510 per month).
Housing eats up a lot of our paycheck, but just how much?
Most Expensive Cities in the world To Rent An Apartment, 2015 Report:
|Rank||Cities||Furnished two-room apartment cost|
|1||New York City||$4620|
|20||Rio de Janeiro||$1380|
|38||Santiago de Chile||$990|
Methodology: To estimate the worldwide costs of housing, the report considered the prices for a furnished two-room apartment. Report only looked at newly built apartments with a bathroom and a kitchen. Prices included utilities (energy and water taxes), but not the use of a garage. To capture local standards, survey asked for the price of an apartment of typical size, location, and amenities for the respective city.
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As founder and editorial director of the CEOWORLD magazine, Amarendra Bhushan is an extensively kudized author, journalist, and internationally syndicated columnist. In 2008, he launched The CEOWORLD magazine, a site that quickly became one of the most widely-read, linked to, and frequently-cited media brands on the Internet.