Survey: Hong Kong rental prices world highest

Update:24 May 2007

Hong Kong is the world's most expensive city to rent accommodation and Asia accounts for five of the top 10 most costly cities to rent, local media cited data from a recent survey reported on Wednesday.

According to the survey, an unfurnished three-bedroom apartment in a popular expatriate area of Hong Kong costs approximately 8, 592 U.S. dollars per month on average, 17 percent more expensive than Tokyo, the second in the survey.

The survey, conducted by UK-based consultant ECA International, compares the rental prices of 92 locations worldwide.

High rental prices in Hong Kong can be attributed to a number of factors, including an increasing demand for high-end developments as many financial firms strengthen their presence within the city, ECA said in a statement.

The survey also shows that rental prices of Hong Kong are rising up 10 percent from 2005, with prices in Tokyo increasing by just 1 percent year on year.

"The gap between Asia's two most expensive cities to rent is actually widening," said Lee Quane, General Manager of ECA in Hong Kong.

Comparing rents for typical expatriate apartments, New York was ranked third most expensive, followed by Moscow, Seoul, London, Mumbai, Shanghai, Caracas and Paris. Beijing was ranked 11th in the survey.

SOURCE: Beijing Time

From the Editor
This site contains materials from other media sources and the materials are for the purpose of discussion stimulation and content enrichment among our members only.
The material sources are clearly stated. However, does not necessarily endorse their views and the accuracy of their content. does not bear the joint responsibility of their copyright infringement.
Some of the views expressed in written material posted to these bulletin boards are those of our members¡¯. does not endorse their content and they are sole responsibility of the authors.
For copyright infringement issues, please contact Email: OR refer to China Intellectual Property Infringement Law 

Comments List
Your name:
Validation Code: