London again recognized as the most expensive city in Europe for rental housing
The cost of rented real estate in London rose by an average of $ 150 per month.
Situation. London still holds first place among Europe’s most expensive rental cities for expats. The average cost of a three-bedroom middle-class home for foreigners is $ 6,959 per month, according to the April ECA International Housing Rating (ECA).
In Manchester and Birmingham, there was a slight increase of $ 37 and $ 30 per month, respectively. This will especially please tenants in Birmingham after a staggering monthly growth of $ 136 in 2019.
The average monthly rental price for a three-bedroom house in Manchester, which is 29th in Europe, is $ 2,457, and in Birmingham, 32th, it is $ 2,401.
Population growth has led rental prices to continue to rise in Edinburgh. The average cost of a typical three-bedroom house in the Scottish capital has grown by $ 131 per month, to $ 2,144, which is the highest rate in five years.
The slowdown in the oil and gas industry in Aberdeen leads to a further reduction in rents. This led to the fact that the Scottish city has now reached the minimum rent since 2012 – $ 1,521.
Dublin remains in the top five most expensive rental locations in Europe: the average rate is $ 4,086 per month. This makes it more expensive than other European capitals such as Paris ($ 3,914), Berlin ($ 2,662) and Madrid ($ 2,706).
The United States has become much more expensive for expats: almost all cities in the ranking have risen, and three cities in the top ten of the world: New York, San Francisco and Miami. By the way, recently, experts called the most crisis-resistant cities in the United States.
For the third consecutive year, Hong Kong has become the world’s most expensive place to live for foreigners: the average monthly rent is $ 11,318.
A source of information. The data used in the report was taken from a study conducted by ECA in September 2019, based on average prices for renting a three-bedroom apartment on average for the expat market. Long-term rental trends under the influence of the crisis have changed slightly.