The analytical firm EuroCost International has compiled a list of the 20 most expensive areas for expats to rent in, and they’ve placed Tokyo at the top of that list.
Renowned for its expense, London comes in a close second to Tokyo, with Hong Kong, Moscow and Luanda completing the top five.
The most surprising aspect of the list is the exit of Dubai, last year it was twelfth on the list but now estimates chart it at around number 31, however the United Arab Emirates still had a place in the top 20 as Abu Dhabi ranked number 12. According to EuroCost: “Price decrease has been even more spectacular in Dubai where decreases up to 30-50 percent have been registered according to the type of housing. Dubai has fallen down in the ranking to 31st while it was 12th last year.”
EuroCost bases its results purely on the cost of renting in the country, this year EuroCost chose to compare the rental prices of two bedroom and three bedroom flats. The areas investigated were known to house a large number of expats, and upper tier housing was chosen to be evaluated.