San Francisco is the most expensive place in the world to rent a home, new research from Nested, an online house sales agency says.
San Francisco came top of Nested’s 2017 Rental Affordability Index with a single let costing £1670 per month and a family let costing £3167. The comparable London prices were £964 and £1829 respectively.
The London based online agents puts New York City, Hong Kong, Dubai and Singapore ahead of London on its rental affordability list, with London taking 11th place.
The comprehensive global study carried out by Nested includes the price of renting per square foot in 33 London boroughs, 15 UK cities and 72 cities worldwide.
The exhaustive study and the resulting tables also show the minimum gross salary required to support both individuals and average families of four in rented accommodation in the cities, based on minimum recommended space requirements.
The Nested study gives an easy comparison between the London boroughs, UK cities and major cities across the globe. It puts into perspective the cost of housing across the globe and to some extent explodes a myth about the much-publicised unaffordability in London.
Nested.com claim that their data mining approach is based on prices gleaned from current market listings for all the locations researched. A rental gross salary guideline of not more than 29% of gross salary per month is used to indicate relative affordability.
London far from costliest place to rent… https://t.co/5jiwxg2CKu
— LandlordZONE (@LandlordZONE) February 27, 2017