Here’s how much it costs to rent a 1-bedroom apartment in 10 Asian cities | Wilnesh News

Renting is a big financial decision, especially if you choose to live in a big city where prices are particularly high.

Financial experts say a general rule of thumb is to spend no more than about 30% of your pre-tax income on rent.

Researchers at the Global Property Guide compiled a Checklist Median rents in several major Asian cities.

The numbers listed below are based on the median purchase price per square meter and the median monthly rent for a one-bedroom apartment in each city’s most expensive areas:

The report stated that in 2023, the Asian real estate market will face a downturn due to weak economic growth and inflationary environment. Report Via Global Property Guide.

“Hong Kong’s property market’s woes continue amid a sluggish economy,” with residential construction activity in the region falling more than 34% year-on-year and inflation-adjusted residential property prices plunging more than 9% in 2023, according to the report.

House prices also fell in Southeast Asia, including Ho Chi Minh City in Vietnam (-1.18%) and Malaysia (-1.06%).

On the other hand, despite poor overall market conditions, cities such as Taipei and Singapore have remained resilient, with house prices rising by 5.17% and 2.74% respectively in 2023.

Overall, the global real estate market appears to be stabilizing as inflationary pressures ease in many countries and central banks pause interest rate hikes, the report said.

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