Research article

Prime rental values

There is large demand for prime rental properties in international business and financial hubs


Looking at the average weekly rent paid for a prime house, Hong Kong remains top of the price league at US$7,060 per week, followed by Tokyo at US$6,000 per week. Apartments make up the majority of the prime market in both cities and houses command a premium where the value of land is high.

Moscow and New York rank third and fourth for a prime house at US$4,180 and US$4,080 per week respectively, just ahead of London, Paris and Los Angeles. As international business hubs with high levels of domestic wealth, demand for prime rental properties is high.

New York tops the league for the rental cost of a prime apartment and is the only city in the index where the average weekly rent for an apartment is higher than for a house. This reflects the high-quality supply of apartments at the top end of the market and their prime locations.

As is the case with capital values, Cape Town and Kuala Lumpur rank as lower-valued cities for prime residential rents and are two of only three cities in the index where a prime house costs less than US$1,000 per week, the other being Hangzhou.

Read the articles within Savills Prime Index: World Cities below.

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