Seoul Rents Are 24th Highest Among World Cities

Published on 2017/03/05 | Source

Seoul ranks 24th among 87 world cities in terms of the price of renting a home.

San Francisco tops the list with a staggering W 5,595 per square foot in 2017 Rental Affordability Index released by U.K. property website Nested on Sunday (US$1=W1,132).

In London, the monthly rent for a single person is W2.36 million for a 39 sq.m home and for a family of four W4.49 million for a 74 sq.m home. New York comes second with W5,355 per square foot, followed by Hong Kong (W 4,329), Dubai (W 3,978), and Singapore (W 3,767).

The monthly rent in Seoul is about W76,600 per 3.3 sq.m or pyeong, which means a single person has to pay W905,800 a month and a family of four 1.72 million.

To live in Seoul, a single person will need an annual income of at least W37.48 million and a family of four W71.12 million.

Tokyo came 15th with W 2,530 per square foot and Beijing 29th with W2,066.