The world’s 20 most expensive cities to rent a property

Is it any surprise that London has come out top in the world’s most expensive cities to rent a property? According to figures from the Global Property Guide, to rent a home in inner London you’ll be paying around £7,136 ($11,089) per month. The numbers are based on a 120sq.m property, usually an apartment. Monaco is the most expensive place to live in the world, with a buying price per sq. m costing as much as $60,114.

The website for residential property investors says a 250 sq.m apartment in a prime location in the capital could cost around £6,200,000. While the figures are based on luxurious areas of London like Kensington and Chelsea, it nevertheless highlights just how impossible it is for many people to live in central London.

Global Property Guide suggests that foreign property investors in Britain are being blamed for the extortionate house prices in London.

But its not just Londoners who are suffering. According to Homelet, regional rental prices are now growing faster than the capital.

The most expensive cities to rent property

Click here to see the full infographic from infogr.am

So perhaps we should all move to The Bahamas. Unlike London, it has great beaches AND it’s only 19th on the list.

New York was the second most expensive city to rent property, with an average rent per month of $7,225, followed by Hong Kong with rents of $6,431.
The 20 most expensive cities to rent property in the world

Visualising the housing crisis in London

All the stats and data surrounding the housing crisis can be a little overwhelming, so a London renter has brought attention to the issue by making box graphs around the streets of the capital. His charts visualize the UK housing crisis in a very real, and unavoidable way. The graphs by Arman Naji show the steep rise in homelessness, house prices and average rents using stats he’s collected.

Images of the graphs can be found on the Street Graphs Tumblr page, or you can find them around London: