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.