The Top 5 Most Expensive Global Cities for Renters

Are your outrageously high rent payments making you squirm? If so, you may find some solace in this post...that is if you DON'T live in these five profiled cities.

If you're looking for a 2 bedroom/ 2 bathroom apartment in the city centre of any of these global cities...expect to pay.

#5- HONG KONG- $6256 per month

Hong Kong Skyline

With business booming in China and the Far East, demand for real estate in Hong Kong, Asia's financial capital, has gone through the roof. Unfortunately, HK's relatively small geography and isolation from Mainland China has forced real estate developers to build both larger, and smaller. Larger in the sense that the city skyline is dominated by modern skyscrapers. Smaller in the sense that each individual apartment has gotten much, MUCH smaller.

#4- New York City- $6324

I bet a great deal of Americans thought that NYC would be at the top of the list. Interestingly enough, real estate developers are starting to get more creative in how they construct new apartments within the city. Check out my thoughts on the micro-apartment craze right here.

#3- Bermuda-$6519

Does living in a 21-square mile tropical island tax haven sound good to you? If so, Bermuda is your place.

#2- LONDON- $8859

Let me just say from my own experience that the cost of living in London is disgustingly expensive! It's just one of those places that everyone and their brother wants to move to... even if the weather is less than pleasing. Actually rent is so high in London that landlords traditionally charge by the week.

#1- Monaco- $9246

A haven for the rich and glamourous, the Principality of Monaco takes the cake as the most expensive city for renters in the world. I'd recommend moving there if you are a rich businessman or celebrity from a country where tax rates are unfavorable. A fancy yacht isn't required, but you'd do well to get one!

Monaco at Nighttime

Source: In pictures: The world's 20 most expensive cities to rent property. The Telegraph.

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