Top 10 least affordable cities to rent
- By Lu Na
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E-mail China.org.cn, May 1, 2016
Beijing topped the list of 15 cities with the least affordable rental housing in the world, according to a survey released by Global Cities Business Alliance (GCBA), a UK-based not-for-profit organization.
Beijing's rent is nearly twice as expensive as the runner-up, Abu Dhabi, which is more than 1.2 times higher than the average earnings of Beijing residents, according to the survey.
Moreover, the average daily commute in Beijing takes 104 minutes per round trip, which is the second longest in the world.
"The wealthiest workers will always be able to afford to live in the biggest cities, but the danger is that talented workers starting their careers in many sectors will find themselves priced out," said Lesley Saville, GCBA chief executive.
Paying high rental prices means people have to cut their spending in other domains.
Rent:US$880 (5,700 yuan)
Housing cost as a share of net earnings:36.2%
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