When it comes to the most expensive rent for apartments, Hong Kong is far and away the city at the top of the list. Close contenders for the most expensive rent include Moscow and Tokyo. Rounding out the top-five cities with the highest rental rates are New York and London.
More facts about rent prices:
- As recently as 2010, New York was not included in the list of the 10 cities with the most expensive rental rates. Dramatic increases in rents on apartments and similar dwellings moved the city into the top five in 2011.
- New York tops the list of American cities with the most expensive rental rates. Closely behind is Long Island, a suburb of New York.
- Paris is one renowned city that does not make the top 10 when it comes to cost of renting an apartment. Rent in Paris is more, however, than it is in cities such as Shanghai and Abu Dhabi.
More Info: www.economist.com
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