In second place are prices for similar apartments in Tokyo – monthly rent reaches about $7,360 per month. Third place went to New York with a monthly rent of $7,250. The top ten also includes Moscow, Seoul, London, Bombay, Shanghai, Caracas, and Paris.
The cheapest apartments for foreigners are in Nairobi, where they can be rented for a price about 8 times less than in Hong Kong. A three-bedroom apartment costs only $1,090 per month.
Such high rents in Hong Kong are explained by a housing shortage, as well as increased demand for luxury real estate due to many financial institutions strengthening their presence in the city. Hong Kong, a former British colony, is now part of China. Hong Kong's economy ranks third in the world for competitiveness.
ECA International, founded in 1971, is an international staffing agency, uniting about 4,000 employees in 71 countries around the world. Along with personnel recruitment for more than 1,500 companies, ECA also provides services for compiling the Fortune 500 companies ranking.
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