February 2011 News ›
Tokyo most expensive for expat rent
A new study has discovered that Tokyo is the most expensive place in the world for expat rent prices.
ECA International, the human resource company, conducted research into expat rent prices around the world. They discovered that expats in Tokyo can expect to pay an average of around £2,713 per month.
The second most expensive city was Moscow, where rent is currently at around £2,182 per month. Third came Hong Kong with £1,764, and the top five was rounded up by London and Singapore.
The fact that the top five is dominated by Asian countries can perhaps be attributed to growth in the Asian economy.
The regional director of ECA Asia, Lee Quane, said: "Housing is one of the most costly aspects of an international assignment and companies need to ensure that they have an expatriate housing policy in place that takes rent price fluctuations into consideration. Two years ago we witnessed a drop in rental prices across Asia as a result of the recession. The strong rebound in rental rates in many cities reflects both the rapid economic recovery and the continued expansion of companies into the region."
Moscow coming second in the table was also a bit of a surprise, Quane added: "The return of expatriate demand to Moscow in 2010 and continually tight supply has led to price increases of approximately 17 per cent in the city to $3,500 a month."