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Education and Career

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
2 Hong Kong $4410
3 London $2840
4 Geneva $2810
5 Chicago $2520
6 Zurich $2500
7 Dubai $2320
8 Doha $2230
9 Sydney $2050
10 Taipei $2030
11 Luxembourg $1940
12 Oslo $1940
13 Miami $1840
14 Los Angeles $1670
15 Paris $1670
16 Dublin $1650
17 Tel Aviv $1520
18 Helsinki $1460
19 Copenhagen $1420
20 Rio de Janeiro $1380
21 Tokyo $1370
22 Brussels $1300
23 Stockholm $1240
24 Rome $1220
25 Munich $1210
26 Beijing $1150
27 Amsterdam $1140
28 Manama $1120
29 Shanghai $1120
30 Toronto $1110
31 Milan $1090
32 Johannesburg $1080
33 Moscow $1080
34 Auckland $1060
35 Vienna $1010
36 Frankfurt $990
37 Mexico City $990
38 Santiago de Chile $990
39 Seoul $970
40 Madrid $940
41 Sao Paulo $930
42 Istanbul $890
43 Manila $890
44 Berlin $850
45 Bogotá $840
46 Bangkok $820
47 Buenos Aires $810
48 Barcelona $780
49 Mumbai $770
50 Lima $760
51 Ljubljana $760
52 Athens $740
53 Lisbon $710
54 Nairobi $700
55 Nicosia $690
56 Riga $680
57 Bratislava $670
58 Tallinn $670
59 Cairo $640
60 Lyon $640
61 Montreal $640
62 Budapest $620
63 Vilnius $590
64 Warsaw $590
65 Kuala Lumpur $570
66 New Delhi $570
67 Jakarta $530
68 Prague $510
69 Bucharest $420
70 Kiev $400
71 Sofia $270

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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CEOWORLD magazine - Latest - Education and Career - Top 50 Most Expensive Cities in the world To Rent An Apartment, 2015 Report
Prof. Dr. Amarendra Bhushan Dhiraj
Prof. Dr. Amarendra Bhushan Dhiraj is a media and technology executive, macro-economist, strategic thinker, chair, and chief executive officer of the CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Under Dr. Amarendra's leadership, CEOWORLD magazine has become the world's most iconic news organization, whose rigorous reporting and unsurpassed storytelling connect with millions of business leaders daily. Additionally, he serves as the chair and founding member of the CEOWORLD magazine’s Inclusion Advisory Board.

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