Declining Dollar Hurts Expat Renters

Daily Real Estate News  |   February 21, 2008

The declining dollar is making it more expensive for Americans to rent homes in the centers of world commerce.
Rent for a two-bedroom, unfurnished apartment in a neighborhood that residents consider good, but not premium, has escalated about 3 percent to 6 percent in the last year while the dollar has declined a record amount, leaving many renters facing what feels like a 30 percent rental increase.

Here are the top-10 most expensive city housing markets in the world:

Hong Kong, $6,398 a month
Tokyo, Japan, $4,102
Moscow, $4,000
New York City, $4,000
London, $3,889
Seoul, $3,425
Geneva, $2,840
Beijing, $2,840
Paris, $2,634
Osaka, $2,564

Source: Forbes, Matt Woolsey (02/12/2008)

Now, I don’t know where these people live, but when I lived in NY- I did not pay $4000 a month! LOL