HK costliest city: Survey
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
FIVE of the top 10 most costly cities to rent globally are in Asia, according to a survey conducted by ECA International. Hong Kong is the world’s most expensive city to rent accommodation and Asia accounts for five of the world’s top ten most costly cities, it said.
Undertaken annually, ECA’s Accommodation Survey compares rental prices in 92 locations worldwide. The survey data is used in ECA’s Accommodation Reports, which are used by ECA Member companies to calculate housing policy and allowances for their internationally mobile staff.
“Comparing the cost of renting an unfurnished three bedroom apartment, ECA’s data shows that Hong Kong is by far the most expensive city, with an apartment in a popular expatriate area costing approximately US$8,592 per month on average,” said Lee Quane, General Manager of ECA in Hong Kong.
“That’s 17% more expensive than the average rental price in Tokyo, which ranked second in the survey, and 150% more expensive than 15th placed Singapore.”
Five of the top 10 most expensive locations in the world are in Asia, with Seoul (5th), Mumbai (7th) and Shanghai (8th) joining Hong Kong and Tokyo. New York, Moscow, London, Caracas and Paris make up the 10 most expensive cities globally.
Comments are closed.