Tuesday, March 20, 2012

Rent rises beat capital growth in major cities

Straits Times: Tue, Mar 20
RENTAL values are rising faster than underlying house prices in many of the world's leading cities such as Paris and Hong Kong, according to a report by Savills research and consultancy.

The Savills World Class Cities Index recorded an average rental growth of 2.3 per cent from June to December last year, as compared with just 1 per cent growth in capital values.

Paris overtook London as the most expensive rental market, with prices more than three times of rents in Shanghai and Mumbai, both of which are ranked cheapest on the index.

Singapore is ranked as the city with the sixth highest rental costs...

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