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Expats living in Tokyo face higher rents than anywhere else in the world due to the soaring yen, while those in Hong Kong have seen their living costs rise 22 percent in a year, a survey has revealed. For the privilege of living in the Japanese capital, expatriates forked out an average of $4,352 a month for a two-bedroom apartment last year, the annual report by human resources consultant ECA International said. That was followed by Moscow at $3,500 a month, and Hong Kong at $2,830. The stronger yen - which struck a 15- year high against the dollar in November - helped keep Tokyo atop the list, the report said. Third-placed Hong Kong jumped six places in the survey of more than 120 major cities as rents surged 22 percent year-on-year, while London and Singapore were in fourth and fifth place, re-spectively. Caracas, Abu Dhabi, Bogota, San Francisco and Geneva finished off the top 10. Across Asia, rents for two-bedroom apartments rose about 7 percent last year compared with a 1 percent average drop worldwide, as the region bounced back healthily. Rentals in Shanghai and Beijing, ranked 24th and 25th globally, also rose last year after falling in 2009, while the southern industrial city of Shenzhen, ranked 114th, was the cheapest major city for expats in China. AFP |
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