Beijing, Shanghai, Shenzhen Are Not Among World’s 10 Most Expensive Cities for Home Renters

Yicai

2017-03-28

(Yicai Global) March 28 – Chinese property prices have skyrocketed in recent years, but the three largest Chinese cities, Beijing, Shanghai and Shenzhen, did not make it into the list of the 10 most expensive cities for home renters in the world.

Out of 30 major global financial centers surveyed, three American cities have the most expensive rental homes in the world, and none of the three Chinese cities appeared in the top-10 list, CNBC reported today, citing a report published by the US-based property search engine RENTCafé.

A one-bedroom house or apartment in New York, the most expensive city in the world in terms of apartment rental prices, costs USD3,680 a month to rent. San Francisco and Boston came in second and third places with monthly rentals averaging USD3,360 and USD2,930 respectively.

The cities were ranked by average monthly rentals for 600 to 999 sq. foot (55-93 sq. meter) one-bedroom houses and apartments, calculated based on information collected on the global real estate markets.

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