Hong Kong Apartments Ranked as Most Expensive in the World for Expats

Posted on 21 December, 2020 | By Property852

Hong Kong apartments have once again topped the charts for being the most expensive in the world, despite a fall in price due to the pandemic and political uncertainty.

Research data firm ECA International compared data from this September and last September to draw the conclusion that Hong Kong apartments were still the most pricey. Tokyo was second, followed by New York and Geneva.

Meanwhile Hong Kong’s long standing rival Singapore fell from 14^th place to 12^th place due to the Covid-19 pandemic and its impact on the economy which reduced the value of the Singapore dollar.

Top tier cities in China also remained high in the rankings for most expensive places to live for foreign workers, with Shanghai, Guangzhou, Shenzhen, and Beijing all making it to the global top 20. Shanghai was the most expensive of those at position number 11.

Australian cities have also increased in price this year, with Sydney entering the top 50. However India’s most expensive city Mumbai dropped 30 places.

The survey has been conducted every year since 2005. For cost of living they compare a basket of products that are commonly purchased by expats in more than 480 locations around the world.

With Hong Kong apartment monthly rent high and the price of renting via an estate agent being the cost of one months rent, many people are turning to non traditional platforms such as property852 to rent directly from Landlords and thereby save a substantial amount of money.

SHARE

• 
•