14 Mar

London among expensive rental cities

London among expensive rental cities

London has been revealed as the second most expensive city in the world to rent.

Figures from Barratt London looked at 20 cities across the global and found the UK's capital is close to the top.

It was estimated the average tenant in London would have to spend 45 per cent of their monthly income to rent an average one-bedroom flat in the city at a cost of £1,250.

The most expensive city in the world was San Francisco, with renters having to spend 47 per cent of their income on meeting their monthly rental obligations, with the average cost of a one-bedroom apartment in the Californian city is £2,768 per month.

Other cities heading up the research included Hong Kong, Tokyo and New York, while cities that had more affordable rents including Prague, Cape Town and Dublin.

“Rental prices in London continue to demand too much of the occupier, to the extent of almost half of their monthly pay cheque," explained a spokesperson for Barratt London.

"Renting must remain a viable option for those looking to move home."ADNFCR-1222-ID-801833489-ADNFCR

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