Renting a place can be a big deal, especially in a big city where prices are high.
Experts say you shouldn’t spend more than about 30% of what you earn before taxes on rent. A study gathered data from government websites and real estate places in Asia to see how much it costs to rent in big cities.
Here are the prices for renting a one-bedroom apartment and buying property per square meter in some of Asia’s major cities:
Mumbai, India:
- Rent: $481
- Buying price per square meter: $3,882
Hanoi, Vietnam:
- Rent: $688
- Buying price per square meter: $2,280
Jakarta, Indonesia:
- Rent: $698
- Buying price per square meter: $1,726
Kuala Lumpur, Malaysia:
- Rent: $735
- Buying price per square meter: $3,903
Manila, Philippines:
- Rent: $805
- Buying price per square meter: $3,813
Taipei, Taiwan:
- Rent: $816
- Buying price per square meter: $17,551
Bangkok, Thailand:
- Rent: $1,080
- Buying price per square meter: $6,485
Tokyo, Japan:
- Rent: $1,216
- Buying price per square meter: $8,837
Hong Kong:
- Rent: $2,173
- Buying price per square meter: $25,802
Singapore:
- Rent: $4,590
- Buying price per square meter: $16,619
In 2023, Asia’s housing market slowed down because of a weak economy and high prices, according to a report.
Hong Kong’s housing market faced problems as construction slowed down and prices dropped.
Prices for homes in some parts of Southeast Asia like Ho Chi Minh City, Vietnam, and Malaysia also went down.
But cities like Taipei and Singapore kept going strong, with prices going up.
Generally, the housing market seems to be getting better as prices ease in many places and banks stop raising rates.
