Prime Time: The Most Expensive Cities in the World for Renters
Cities in high demand also command an expensive price tag. That’s because it takes a lot of money to reside where the action happens. Everyone wants to live in these cities, so competition raises prices. These cities provide a large market for entrepreneurs and job seekers, cultivate new ideas, and support a diverse population. For world travellers and game changers, these cities are the place to live despite the cost, so there’s no better locations to invest in that those on this list. Below are a few of the most expensive cities for renters in the world.
Monte Carlo, Monaco
The world’s most expensive city for renters is Monte Carlo. It’s located at the base of the Maritime Alps along the French Riviera. The city is a mere three kilometres long and boasts a meagre total population of only 30,000. But what the city lacks in space it more than makes up for in luxury and entertainment. Monte Carlo is known for its cruises, its casinos, and its nightlife. The country made its way to western minds when American actress Grace Kelly became its Princess in 1956 upon her wedding to Prince Ranier III. At £5931 per month this city tops the list for renters. By comparison, San Francisco is only around £1972per month for a one bedroom residence.
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New York City, USA
New York, New York! The city of New York the home of big lights and big dreams. She also provides a hefty rental bill of £4057 per month, among the most expensive in the United States. For that price, residents can go to sleep with an iconic skyline, find open restaurants at any hour of the day, see the latest fashion trends, and see shows exclusive to the large city. The city’s cost also lends itself to exclusive restaurants and hotels for those who seek the truly luxurious. There’s sure to be a kindred soul among the eight million residents that call New York City their home.
Tokyo, Japan
Tokyo, Japan makes the top ten and for good reason. It’s vast commercial market attracts businesses from all over the world. In fact, this Asian city contains more Fortune 500 companies than any other city in the world. Tokyo also entices nearly two million tourists each month according to Japan’s travel board. Tourists love it for the food, the exciting city life, and for the shopping. Residents stay for the skyline, the culture, and the opportunities. The weather is friendly, too. Temperatures range from 26.4 °C to 5.2 °C on average. Renters pay £3856 for the opportunities that this international hot spot promises.
London, England
Of no surprise to anyone in England, London ranks as the second most expensive city to live in on the planet. Renters pay a whopping £5683 to rent in London. That’s just a few hundred pounds shy of the luxurious tourist destination Monte Carlo. In return, London provides a culture that’s as rich as it is old. The city is the home of prestigious universities, iconic monuments, and renowned museums. It’s a common tourist spot on the way to Paris, boasting historic sites like the Tower of London and Big Ben. It’s also home to nearly eight million residents. Visit a reputable estate agent’s website to find out more about buying in this fabulous city.
Moscow, Russia
Moscow is the sixth largest city in the world and houses over eleven million people annually. The city is the seat of the country’s government which is embodied by the towering Kremlin often seen in American spy movies. Moscow is one of the fastest growing tourist destinations in the world. This fact is aided by its expansive underground metro system. The Moscow Metro is the fourth largest underground metro system in the world outside of Asia. Unfortunately, Moscow is the coldest of the top cities. Temperatures range from −30 °C in the winter to 30 °C in the summer. Residents pay a hefty £3749 rental fee per month to live in Russia’s capital city.
Your Next Steps
Other cities not listed here are those that roll of everyone’s tongue when they think of the best cities. Cities like Hong Kong, Paris, Singapore, and Bermuda. A property awaits you in any of these luxurious cities. To find it, you’ll have to speak with someone who can transform your dreams into reality. Real estate agents who specialize in estates in expensive cities can help you buy, rent, and sell property profitably. He or she can help you refine your budget and hone an action plan for attaining your property. Whether you’re looking to rent or to buy property to rent to others, opportunity exists in the greatest cities of the world.
Guest Author :
John Blackburn has international property management experience and always enjoys the opportunity to share with others online, his encounters with the high-end rental market. His observations can be found across a range of property and lifestyle websites.
