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London is no longer the most expensive city to rent as an expat

Press Release: February 21, 2017

EuroCost International publishes its 2017 worldwide ranking of rents paid by expats.
This survey compares 2- and 3-bedroom flats worldwide, using exchange rates from end December 2016.

Major highlights
• Consequence of the Brexit vote: London is no longer the most expensive city to find a flat for expats
• American cities continue to progress in the ranking
• Amsterdam has overtaken Paris as the most expensive city in the euro zone

Strong changes have occurred in the top spots this year: after four years on top, London is no longer the most expensive city for expats to rent a flat. This is the direct consequence of the Brexit vote: the devaluation of the pound sterling has opened the way to Hong Kong, although price level in the Asian city has not increased.
Tokyo is now 2nd, resulting from a rental price increase (a major first for several years) and from the yen revaluation.

In Europe, London remains first, followed by Geneva, Moscow and Zurich.
Paris is now 27th and is no longer the most expensive city in the euro zone since it has been overtaken by Amsterdam this year.

2017 Ranking
1 Hong Kong
2 Tokyo
3 London
4 New York
5 Luanda
6 San Francisco
7 Juba
8 Geneva
9 Moscow
10 Singapore
11 Beirut
12 Washington
13 Doha
14 Los Angeles
15 Shanghai
16 Sydney
17 Osaka
18 Zurich
19 Mumbai
20 Miami

All details about 2017 expat rent worldwide ranking and comments by geographical area on http://www.eurocost.com/en/news/123-expat-rent-prices-worldwide-city-ranking-2017

About EuroCost International
EuroCost International specializes in expatriation and conducts expat cost of living surveys in more than 300 locations worldwide.
Those data are used by HR professionals to calculate their expat remuneration packages.
EuroCost International cost of living indices are updated 4 times a year (in March, June, September & December). They are based on a basket of 350 goods and services representative of the consumption habits of expatriates and can be customised to fit any company’s or organisation’s salary policy. Those indices are available on a city-to-city comparison basis.
EuroCost International also provides specific reports on rental costs, school costs, business trips or on quality of life for expats.

Notes to editors

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Visit the newsroom of: ECI