10 Most Expensive Cities To Rent A 2BHK
Deutsche Bank recently released a study titled Mapping The World’s Prices 2017, and has come out with some interesting observations. Check out the most expensive cities to rent a two-bedroom flat.
Yes, the Silicon Valley in the United States tops the chart. At, $3,449, renting a two-bedroom unit is quite expensive while the average monthly salary is $4,817. Google employees found it tough to hunt for affordable housing in the city, and, therefore, the company is investing in modular homes that will serve as short-term housing for them. In terms of quality of life, however, San Francisco is at number 18, way below the topper, Wellington, New Zealand.
Reserve a budget of $3,237 every month if you are planning to rent a 2BHK in Hong Kong. And why not! We are talking about one of the most expensive property markets in the world. Popular Mechanics recently came out with a report which said that a parking space was bought for $6,64,200 and measures 188 sqft. The average earning comes to about $2,715. It is number 36 on the quality of life list, preceded by the Mexico City.
New York City
Another city from the US is at number three and the average budget for a 2-bedroom apartment on rent comes to about $2,909. Average salaries, however, are higher, at $4,304. Reportedly, tenants and their advocates protested planned rent increases by The Rent Guidelines Board which seeks to revise rates by one to three per cent for one-year leases and two to four per cent for two-year leases. The verdict is yet to come. New York enjoys the 28th position in terms of quality of living and is sandwiched between Tokyo and Milan.
$2,617 is what you pay for a two-bedroom unit on rent in London. Reports claim that the average rental rates are at a seven-year low. In 2017, the average net income of a Londoner stood at $2,776. In terms of quality of living, London stands at number 33 and is followed by Bengaluru, India.
This beautiful city in Switzerland will ask for nothing less than $2,520 for a two-bedroom unit. The city also boasts bigger homes measuring about 80 sqmt in case of a 3BHK or 3.5BHK units. In Geneva, homes on an average measure 60 sqmt. In terms of salaries, Zurich residents seem to have the fattest wallets with average net incomes of $5,876 per month. While it has the purchasing power, it also brags the number 5 position on the quality of life list.
Another one from the UK. You would need to spare $2,361 to live on rent in a two-bedroom unit in this part of the country. High rents become a big problem for students, especially those who have moved to the city from other countries. In terms of salaries, people in Edinburgh earn an average of $2,293 a month. What keeps residents surviving such high rents? Well, it is the quality of life. Edinburgh occupies the second position in this regard.
Every honeymooner’s dream destination, this French City is expensive and commands as much as $2,289 for a mid-ranged two-bedroom unit. The average salary in Paris is $2,583 a month. Residents in this city are calling out for strong rent stabilisation measures as salaries haven’t been growing as much as the rents. Paris is at number 30 on the quality of life list and is followed by Istanbul.
Going for a two-bedroom unit here? Reserve $2,225. In comparison, salaries are much higher at a monthly average of $4,322. Within the US, it is the ninth best city for students to pursue educations. However, there have been speculations that high rents may deter young working professionals from entering the city. Boston enjoys the eight position in the quality of life list.
If you want to live in Sydney, spare $2,134 for a two-bedroom accommodation. People in the city earn an average $3,451 as salary. In terms of quality of life, Sydney is at number 10 preceded by Amsterdam and followed by Helsinki. Australians are looking for inner suburbs to catch hold of anything that looks affordable to rent.
Tokyo in Japan would command as much as $2,010 for a two-bedroom unit. Recently, Japan passed a law wherein landlords could list their residential properties on websites like AirBnB letting out short-term homes for tourists for up to 180 days a year. In terms of Japanese incomes, it stands at $2,897 on an average while the quality of life stands at 27, preceded by Oslo in Norway.
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