What are the world’s most expensive places to rent?

[Dustin Ruhl]

This article from Mortgage Professional America is about renting prices across the world. The article focuses on a study done by Nested who used a Rent Affordability Index. They found that San Francisco is most expensive county in the world for renters. They also calculated a single person's square foot rental cost at four dollars and ninety-six cents. That comes out to over two thousand dollars for 420 square feet and nearly four thousand dollars for 800 square feet. The top ten list also included New York City, Hong Kong, Dubai, Singapore, Washington, D.C., Geneva, Switzerland, Sydney, Australia, Zurich Switzerland, and finally, Los Angeles. The entire list include locations from all over the world, and came out to eighty-seven total cities. Based on the article, they used the current marked listings in the area to find out what the average rent per square foot would be. Los Angeles, at number 10 highest rental cost per square foot, was fifty-seven percent of what San Francisco costs. New York came in relatively close to the cost of San Francisco, at only twenty-one cents cheaper. The midway point on the top ten list was Singapore, Singapore, which came in at three dollars and thirty-four cents, over a dollar and fifty cents cheaper than San Francisco per square foot.

Key Takeaways:

• Wanting to live in one of the most popular cities in the world does not come cheap and might not be within your budget.

• UK-based Nested rated 87 cities based on rent affordability using dwellings currently available on the market in the respective cities.

• Worldwide among the top ten cities with the highest rent per square feet are Washington, D.C., New York City, San Francisco, and L.A.

"Home purchase prices in the area are already stratospheric, but housing startup also listed the county as having the most expensive rent in the world, according to Curbed SF."

Read more: http://www.mpamag.com/news/what-are-the-worlds-most-expensive-places-to-rent-61113.aspx