How the world’s cities stack up
So where in the world has the highest rents? The lowest house prices? The best growth? Our Global Living Report answers all these questions and more, but here is a sneak peak:
To anyone that has ever complained about the price of rent in London, you’ll be pleased to know that you were in fact right: it is expensive in our fair capital. In fact, at £2,080, London has the highest average rents of any city we looked at. In second place came Abu Dhabi at £1,698, third came Singapore at £1,5650 and fourth came Los Angeles at £1,616. Surprisingly, New York (always spoken of as having very high rents) was in fifth place with rental values averaging at £1,521.
For the investors among you, Edinburgh topped our rental growth list over the last year at 19%, Abu Dhabi was second at 12% (this, when coupled with it having the second highest average rents makes it a good choice), Istanbul was third at 12%, Sydney was fourth at 8.3% and Tokyo was fifth at 7.6%.
The most expensive properties can be found in Hong Kong at £908 psf, followed by London (yes, there we are again) at £657, New York at £540, Paris at £524 and Singapore at £519. On the other side of the coin lie the most cost effective properties, found in Istanbul £72 psf, Johannesburg £78 psf, Cape Town £106 psf, Lisbon £124 psf and Chicago at £150 psf.
And in terms of house price growth, Dublin is the strongest contender at 21.6%, followed by Hong Kong at 20%, then Edinburgh at 20%, Sydney at 16.8% and Berlin at 15.6%.
Of course, numbers are just numbers, they only become truly interesting when looked at in combination with one another and seen in context. Stay tuned for our next blog to see how it all fits together.