Renting a place is a significant financial decision, particularly in major cities where prices can be exorbitant. Experts advise allocating no more than approximately 30% of pre-tax income towards rent. The Global Property Guide has conducted a comprehensive analysis of median rental prices in several major Asian cities based on data gathered from government websites and real estate marketplaces. The figures provided below reflect the median buying price per square meter and the median monthly rental price for a 1-bedroom apartment in the most expensive regions within each city:
| City | Median Buying Price per Square Meter | Median Monthly Rental Price for a 1-Bedroom Apartment |
|—|—|—|
| Mumbai, India | $481 | $3,882 |
| Bangkok, Thailand | $688 | $2,280 |
| Manila, Philippines | $698 | $1,726 |
| Tokyo, Japan | $735 | $3,903 |
| Seoul, South Korea | $805 | $3,813 |
| Hong Kong, China | $816 | $17,551 |
| Singapore, Singapore | $1,080 | $6,485 |
| Taipei, Taiwan | $1,216 | $8,837 |
| Bengaluru, India | $2,173 | $25,802 |
| Shanghai, China | $4,590 | $16,619 |
The Global Property Guide report indicates that Asia’s housing market has faced a downturn in 2023 due to weakened economic growth and inflationary pressures. Hong Kong has witnessed a downturn in its housing market, coupled with a struggling economy and a significant decline in residential construction activity. Prices for housing in regions of Southeast Asia such as Ho Chi Minh City, Vietnam and Malaysia have also experienced decreases. However, cities like Taipei and Singapore have shown resilience amidst the overall market environment, with housing prices increasing in 2023.
The report suggests that the global housing market is stabilizing as inflationary pressures ease in many countries and central banks pause their rate hikes.
