Tue, Feb 21, 2012 - Page 2 News List

Taipei is ninth-most expensive city in Asia: poll

MOVING ON UP:Taiwan jumped four places to break into the top 10, with a high-end three-bedroom apartment now averaging about US$3,200 a month

Staff Writer, with CNA

Taipei is the ninth-most expensive city in Asia in terms of high-end residential rentals, according to an annual survey released yesterday by a British human resources consulting company.

Taipei climbed four spots from its 2010 ranking in Asia and nine notches from 52nd to 43rd globally, the ECA International survey showed.

It is the first time Taipei has been listed among the 10 most expensive cities in Asia since the survey was first conducted in 1996.

The survey, carried out in September last year, showed that the average monthly rent for a three-bedroom, unfurnished apartment in Taipei was about US$3,200.

This represented a 16 percent annual increase.

The cost of rented housing in Taipei is approximately the same as in many large cities in the US, such as Boston and Miami, according to the survey that covers more than 130 cities globally.

However, Taipei still remains competitive since its other economic indices, such as inflation and unemployment, are at “healthy” levels, ECA International regional director for Asia Lee Quane said.

Hong Kong was listed as the most expensive locality, both regionally and globally, in terms of high-end apartment rentals, followed by Tokyo.

Rounding out the top-10 list in Asia were Singapore, Mumbai, Seoul, Shanghai, New Delhi, Beijing, Taipei and Jakarta, in that order.

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