This article was first published in Property Guru
Singapore has emerged as the seventh most expensive destination in Asia for high-end rental accommodation this year, down from fourth place in 2016, reported the Business Times.
Hong Kong retained its position as Asia’s most expensive location, with monthly rent for an unfurnished three-bedroom apartment hitting S$14,473 on average.
Tokyo and Seoul grabbed the second and third spots respectively, followed by Yokohama, Shanghai and Beijing.
Mobility solutions provider ECA International’s latest Accommodation Survey showed that average rents in Singapore have dropped significantly since 2012, with an unfurnished three-bedroom apartment in popular expatriate neighbourhoods averaging S$6,443 per month.