Money Ranked: Average rent prices of the world's top financial cities

05:25  19 march  2017
05:25  19 march  2017 Source:   City AM

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The capital' s renters who work in the City may not be getting a raw deal when it comes to rent – at least not when London’ s stacked up against the globe’ s other top financial cities . London is the leading financial hub based on the latest rankings in the Global Financial Centres Index

For the initial list of the world ’ s top financial cities we used Z/Yen Group’s ranking , as published in the latest issue of the Global Financial Centres Index. The rent prices represent the average rents or their US Dollar-equivalents for one-bedroom apartments between 600 and 999 square feet

Rent in world's top financial cities © City AM Rent in world's top financial cities The capital's renters who work in the City may not be getting a raw deal when it comes to rent – at least not when London’s stacked up against the globe’s other top financial cities.

London is the leading financial hub based on the latest rankings in the Global Financial Centres Index by the Z/Yen Group. That considers elements such as competitiveness and transaction volume.

But according to analysis by US apartment search site , London's average rent isn’t bad at all compared to some of the other financial heavyweights. 

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The analysis looks at the average rents for one-bedroom apartments ranging from 600 to 999 square feet in the top 30 financial centers of the world , as ranked by the Z/Yen Group‘ s Global Financial Centres Index (GFCI).

Looking at average rent prices for one-bedroom flats between 600 and 999 square feet, RentCafe found that you’d get a flat of the above description for $1,650 (£1330) in London, but would have to cough up double that to get the same in New York at $3,680.

Overall, 19 other cities had more expensive rent despite the capital having the highest clout in the top financial cities rankings.

Renters in Hong Kong averaged $2,740 a month for the same-sized apartment, making it the fourth most expensive financial city in the world to live for renters.

As for the best deals, RentCafe said the cheapest rent in the European financial hubs can be found in Munich at $1,110 per month.

Across all of the cities considered, Casablanca was the cheapest place entirely, with flats commanding $820 on average.

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US rents were among the highest while Hong Kong and Geneva were more expensive than London too (Source: RentCafe)


The top 30 financial cities by rent price:

Financial cityAverage rent for one bedroom flatFinancial rank
New York City$3,6802
San Francisco$3,3606
Boston$2,9307
Hong Kong$2,7404
Geneva$2,32023
Zurich$2,2009
Singapore$2,0503
Tokyo$2,0505
Sydney$2,04011
Dubai$2,04018
Los Angeles$2,03025
Seoul$1,99014
Washington$1,94010
Shanghai$1,91016
Beijing$1,90026
Paris$1,73029
Chicago$1,7208
Melbourne$1,69024
Cayman Islands$1,68028
London$1,6501
Luxembourg$1,53012
Shenzen$1,52022
Osaka$1,44017
Vancouver$1,40020
Frankfurt$1,35019
Toronto$1,20013
Munich$1,11027
Taipei$91021
Montreal$85015
Casablanca$82030
RankingThe world's top 30 financial centres
1London
2.New York
3.Singapore
4.Hong Kong
5.Tokyo
6.San Francisco
7.Boston
8.Chicago
9.Zurich
10.Washington DC
11.Sydney
12.Luxembourg
13.Toronto
14.Seoul
15.Montreal
16.Shanghai
17.Osaka
18.Dubai
19.Frankfurt
20.Vancouver
21.Taipei
22.Shenzhen
23.Geneva
24.Melbourne
25.Los Angeles
26.Beijing
27.Munich
28.Cayman Islands
29.Paris
30.Casablanca

Britain's poorest, excluded from banking, turn to high-cost credit - report .
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