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Is London the most expensive place to rent a property?

According to new research*, San Francisco is the most expensive city to rent a property. The findings from Nested, a London based online house sales agency, confirmed the results in February this year.

New York is among the highest places to rent, along with Hong Kong, Dubai and Singapore, all being ahead of London, which is situated at 11th place and out of our top 10!

Nested’s global study included the price of renting per square foot in 33 boroughs of London, 15 UK cities and 72 cities worldwide.

Factors they also considered were how much an individual and a family of four would typically have to earn to support themselves in accommodation based on minimum space requirements.

Contrary to popular belief, Nested uncovered the facts behind the much publicised unaffordability of our capital, putting perspective on the cost of housing across the globe.

Nested.com claim their data mining approach is based on prices obtained from current market listings for all locations researched and their findings uncovered not more than 29% of gross salary per month was used to indicate relative affordability.

Check out the TOP 10

  1. San Francisco
  2. New York
  3. Hong Kong
  4. Dubai
  5. Singapore
  6. Washington DC
  7. Geneva
  8. Sydney
  9. Zurich
  10. Los Angeles
    – – – – – – – – – – – – – – – –
  11. London!!!

* https://nested.com/

* http://www.landlordzone.co.uk/news/london-far-from-costliest-place-to-rent

 

FP247-2017