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19th Nov 2017

Where’s the most expensive place to rent? Whatever your answer was, you’re probably wrong

We guessed New York, Hong Kong or San Francisco. And we were way off.

Rory Cashin

Although it might feel like it, London is not even in the top 5.

The folks at Good Migrations have put together some interesting factoids based off the Mercer 2017 cost of living rankings, and one of those is the five most expensive places in the world to rent, and the number one spot is somewhere we never in a million years would have guessed.

Before then, in a similar to the 5 Most and 5 Least expensive places in the world to get a pint that we reported on a few months back, this new information tells us which countries are the 5 most and 5 least expensive places in the world to get a cappuccino.

All of the information is given in dollars, but we’ll do the currency exchange for some of them just to give you a general idea.

So the most expensive place on the planet to get a cappuccino is Zurich in Switzerland ($5.52 /£4.18 ), followed by Abu Dhabi in UAE ($5.41/£4.09), Reykjavik in Iceland ($5.33/£4.33), Hamilton in Bermuda ($5.31/£4.02) and Hong Kong ($5.11/£3.87).

On the other end of the scale, the cheapest place in the world to get a cappuccino is Kharkiv, the second biggest city in Ukraine ($0.90 / £0.68), followed by two more Ukraine cities, Lviv ($1.04) and Kiev ($1.17), and then Tunis in Tunisia ($1.23) and Mysore, the third biggest city in India ($1.25)

But now, on to what you’re all here for, those precious rent prices.

We had some guesses that ended up in the top 5, but we never in a million years would have guessed the top spot.

Here are the five most expensive places to rent for a month, on average:

5. Hong Kong – $2,70

4. Hamilton, Bermuda – $2,744

3. New York, United States – $2,956

2. San Francisco, United States – $3,433

1. Luanda, Angola – $3,556 / $3,016

Despite the fact that Angola’s GDP per head is just $7,700, the cost to live specifically in Luanda has sky-rocketed. This is due to the massive reserve of oil discovered there – Angola is now the second biggest producer and exporter of oil in Africa, after Nigeria – and a limited number of luxury accommodation for those in the oil industry means that the average cost of housing, as well as the general cost of living, has multiplied numerous times over in the past few years.

And on the other end, here are the five cheapest places to rent per month in the world:

5. Karachi, Pakistan – $139

4. Alexandria, Egypt – $137

3. Jaipur, India – $135

2. Mysore, India – $127

1. Valenzeula, Phillipines – $76 / €64