Here's the average price for a one-bedroom rental in 10 cities in Asia.
Fraser Hall | Photo Bank | Getty Images
Renting a place is a big financial decision, especially when you choose to live in a major city whose prices are particularly expensive.
The general rule of thumb is to spend no more than about 30% of your pre-tax income on rent, according to financial experts.
Based on data collected in April from various government websites and major property markets in each country, researchers at Global Property Guide have compiled a list of average rental prices in several major cities in Asia.
The numbers listed below are based on the average purchase price per square meter and the average monthly rental price for a one-bedroom apartment in the most expensive area within each city:
Mumbai, India
Average rent for a one-bedroom: $481
Purchase price per square meter: $3,882
Hanoi Vietnam
Average rent for a one-bedroom: $688
Purchase price per square meter: $2,280
Jakarta, Indonesia
Average rent for a one-bedroom: $698
Purchase price per square meter: $1,726
Kuala Lumpur, Malaysia
Average rent for a one-bedroom: $735
Purchase price per square meter: $3,903
Manila, Philippines
Average rent for a one-bedroom: $805
Purchase price per square meter: $3,813
Taipei, Taiwan
Average rent for a one-bedroom: $816
Purchase price per square meter: $17,551
Bangkok, Thailand
Average rent for a one-bedroom: $1,080
Purchase price per square meter: $6,485
Tokyo, Japan
Average rent for a one-bedroom: $1,216
Purchase price per square meter: $8,837
Hong Kong
Average rent for a one-bedroom: $2,173
Purchase price per square meter: $25,802
Singapore
Average rent for a one-bedroom: $4,590
Purchase price per square meter: $16,619
In 2023, Asia's housing market faced a decline amid weak economic growth and inflationary environment, according to a report by Global Property Guide.
“Hong Kong’s housing market problems persist, amid a faltering economy,” with residential construction activity in the region falling by more than 34% year-on-year and inflation-adjusted residential property prices falling by more than 9% in 2023, according to the report.
Housing prices also fell in Southeast Asian regions such as Ho Chi Minh City, Vietnam (-1.18%) and Malaysia (-1.06%).
On the other hand, cities like Taipei and Singapore remain resilient despite the overall market environment – with housing prices rising by 5.17% and 2.74% in 2023, respectively.
Overall, the global housing market appears to be stabilizing as inflationary pressures ease in many countries and central banks stop raising interest rates, according to the report.
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