Hong Kong is the most expensive city in the world to rent a two-bedroom apartment, according to a report from Deutsche Bank. Average rent prices in Wellington and Dublin increased over 20% since last year but Tokyo, Frankfurt, and Melbourne all had at least 9% decreases in rent. Average rent in New York City is about $800 lower than in the most expensive US city, San Francisco.
Housing costs likely eat up the biggest share of your paycheck, no matter where in the world you live.
But looking at the average rent for a two-bedroom apartment in the world’s largest cities, that number can range dramatically from about $300 in Bangalore, India, to more than $3,700 in Hong Kong, according to a new report from Deutsche Bank Market Research.
Hong Kong was the second most expensive city for housing last year but overtook San Francisco on this year’s report. Wellington jumped the most spots thanks to a 28% year-to-year change in apartment pricing and moved ahead five places to the 19th most expensive city for housing. Meanwhile, Melbourne and Frankfurt, Germany, dropped seven spots each, with the latter moving out of the top 24.
The report sources prices from Expatistan, a site that tracks cost-of-living expenses in over 200 countries, for “monthly rent for mid-range two-bedroom apartment” in nearly 50 cities.
Below, check out the 24 most expensive cities in the world to rent an apartment.
All prices are average and in US dollars.
24. Shanghai, China — $1,343 Eugene Lu/Shutterstock 23. Chicago, United States — $1,421 marchello74/Shutterstock 22. Toronto, Canada — $1,502 Inga Locmele/Shutterstock See the rest of the story at Business Insider
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