Comparative Analysis of Price to Rent Ratio in the City Centre

Our comparative analysis delves into the price to rent ratio in the city center, providing valuable insights into the rental market. By assessing property prices and rental rates, we help you understand the financial dynamics of renting in the city center.

As of January 2021, Seoul had the highest price to rent ratio in the city center, standing at 87.6. Shenzhen and Taipei followed closely, with ratios of 76.6. Syracuse, Lagos, and Detroit exhibited relatively lower ratios, suggesting a more favorable rental market in terms of price to rent ratio.

By January 2022, Shenzhen claimed the top spot with a price to rent ratio of 95, indicating high property prices compared to rental rates in the city center. Seoul and Taipei secured the second and third positions, respectively. Abu Dhabi, Sharjah, and Lagos showcased lower ratios, suggesting a relatively more affordable rental market in terms of price to rent ratio.

Moving to January 2023, Guangzhou emerged as the city with the highest price to rent ratio in the city center, at 96.1. Shenzhen and Seoul followed closely, indicating high property prices compared to rental rates. Pretoria, Yangon, and Lagos exhibited lower ratios, suggesting a relatively more favorable rental market in terms of price to rent ratio.

Analyzing the price to rent ratio provides insights into the financial dynamics of renting in the city center. It helps you understand the relationship between property prices and rental rates, enabling you to evaluate the feasibility and affordability of renting in different areas.

Property Price to Rent Ratio City Centre January 2023 (Ratio, January 2023)

City Country Ratio
1 Guangzhou China 96.1
2 Shenzhen China 94
3 Seoul South Korea 92.8
4 Taipei Taiwan 86.2
5 Hangzhou China 65.2
6 Beijing China 62.7
7 Shanghai China 60.8
8 Hong Kong China 58.6
9 Taichung Taiwan 53.6
10 Macao Macau 52.9
11 Quebec City Canada 50.6
12 Kaohsiung Taiwan 47.4
13 HsinChu Taiwan 47
14 Kathmandu Nepal 43.4
15 Jerusalem Israel 42.8
16 Mumbai India 42.7
17 Vienna Austria 42.3
18 Innsbruck Austria 42.2
19 Delhi India 41.9
20 Chennai India 41.8
21 Tel Aviv-Yafo Israel 41.4
22 Munich Germany 40.9
23 Zurich Switzerland 40.5
23 Plzen Czech Republic 40.5
24 Dubrovnik Croatia 40.4
25 Paris France 40
26 Chengdu China 39.8
27 Frankfurt Germany 39
28 Stuttgart Germany 38.6
29 Surabaya Indonesia 38.5
30 Kochi India 38.2
30 Graz Austria 38.2
31 Prague Czech Republic 37.4
32 Stockholm Sweden 37
33 Tuzla Bosnia and Herzegovina 36.8
34 Nuremberg Germany 36.7
35 Buenos Aires Argentina 36.6
36 Sarajevo Bosnia and Herzegovina 36.4
37 Hamburg Germany 35.8
38 Split Croatia 35.7
39 Brno Czech Republic 35.6
39 Ho Chi Minh City Vietnam 35.6
40 Helsinki Finland 35
41 Dusseldorf Germany 34.5
42 Eskisehir Turkey 34.4
43 Geneva Switzerland 33.9
44 Haifa Israel 33.8
45 Luxembourg Luxembourg 33.6
45 Ramat Gan Israel 33.6
46 Bratislava Slovakia 33.3
46 Algiers Algeria 33.3
47 Nice France 33.2
48 Oslo Norway 33.1
49 Kuwait City Kuwait 32.8
49 Indore India 32.8
49 Heidelberg Germany 32.8
50 Nis Serbia 32.7
51 Tokyo Japan 32.6
52 Moscow Russia 32.3
52 Pune India 32.3
52 Bolzano-Bozen Italy 32.3
53 Lyon France 32.1
54 Sydney Australia 31.8
55 Lucknow (Lakhnau) India 31.6
55 Cluj-Napoca Romania 31.6
56 Krasnodar Russia 31.5
56 Budapest Hungary 31.5
57 Debrecen Hungary 31.2
58 Dhaka Bangladesh 31.1
59 Gdansk Poland 30.9
60 Zagreb Croatia 30.8
61 Katowice Poland 30.6
62 Singapore Singapore 30.4
62 Banja Luka Bosnia and Herzegovina 30.4
62 Saint Petersburg Russia 30.4
63 Gdynia Poland 30.2
64 Bhubaneswar India 30.1
65 Milan Italy 30
66 Bangkok Thailand 29.6
66 Ljubljana Slovenia 29.6
67 Turku Finland 29.5
67 Zadar Croatia 29.5
68 Kaliningrad Russia 29.4
69 Trondheim Norway 29.3
70 Basel Switzerland 29.1
70 Espoo Finland 29.1
70 Penang Malaysia 29.1
71 Auckland New Zealand 29
72 London United Kingdom 28.7
72 Kosice Slovakia 28.7
73 Krakow (Cracow) Poland 28.6
74 Florence Italy 28.3
74 Skopje North Macedonia 28.3
74 Berlin Germany 28.3
75 Olomouc Czech Republic 28.1
76 Gothenburg Sweden 27.5
77 Aalborg Denmark 27.4
77 Curitiba Brazil 27.4
77 Tallinn Estonia 27.4
78 Kazan Russia 27.3
78 Glasgow United Kingdom 27.3
78 Rome Italy 27.3
78 Tromso Norway 27.3
79 Chittagong Bangladesh 27.1
79 Gurgaon India 27.1
80 Toulouse France 27
80 Poznan Poland 27
80 Kaunas Lithuania 27
80 Belo Horizonte Brazil 27
81 Toronto Canada 26.8
81 Colombo Sri Lanka 26.8
81 Craiova Romania 26.8
81 Petaling Jaya Malaysia 26.8
81 Tampere Finland 26.8
82 Kolkata India 26.7
82 Novi Sad Serbia 26.7
83 Montreal Canada 26.6
84 Rijeka Croatia 26.5
84 Linz Austria 26.5
85 Johor Bahru Malaysia 26.3
85 Bergen Norway 26.3
86 Victoria Canada 26.2
87 Sofia Bulgaria 26.1
87 Brisbane Australia 26.1
88 Bangalore India 25.9
88 Tartu Estonia 25.9
88 Hyderabad India 25.9
89 Noida India 25.8
89 Hanoi Vietnam 25.8
90 Arhus Denmark 25.7
90 Voronezh Russia 25.7
91 Pristina Kosovo 25.5
91 Timisoara Romania 25.5
92 Bialystok Poland 25.3
92 Vancouver Canada 25.3
93 Columbus United States 25.2
94 Madrid Spain 25.1
94 Karachi Pakistan 25.1
94 Vilnius Lithuania 25.1
95 Nizhny Novgorod Russia 25
95 Perm Russia 25
96 Iasi Romania 24.9
96 Sibiu Romania 24.9
97 Warsaw Poland 24.7
98 Seville (Sevilla) Spain 24.6
98 Stavanger Norway 24.6
99 Turin Italy 24.5
99 Amsterdam Netherlands 24.5
100 Yekaterinburg Russia 24.4
100 Samara Russia 24.4
100 Grenoble France 24.4
101 Malmo Sweden 24.3
101 Oradea Romania 24.3
101 Wroclaw Poland 24.3
101 Novosibirsk Russia 24.3
102 Bucharest Romania 24.2
103 Riga Latvia 24.1
104 Ufa Russia 24
105 Thessaloniki Greece 23.9
106 Bologna Italy 23.8
106 Bandung Indonesia 23.8
107 Varna Bulgaria 23.7
108 Tripoli Libya 23.5
108 Athens Greece 23.5
109 Rio de Janeiro Brazil 23.4
109 Manila Philippines 23.4
110 Osijek Croatia 23.3
111 Liverpool United Kingdom 23.2
112 Melbourne Australia 23.1
113 Lodz Poland 22.9
114 San Jose United States 22.8
115 Tirana Albania 22.7
115 Ostrava Czech Republic 22.7
115 Belgrade Serbia 22.7
115 Brasilia Brazil 22.7
115 Saint Helier United Kingdom 22.7
116 Santiago Chile 22.6
117 Malaga Spain 22.5
118 Barcelona Spain 22.4
118 Mississauga Canada 22.4
118 Jakarta Indonesia 22.4
119 Wellington New Zealand 22.3
119 Podgorica Montenegro 22.3
120 Szczecin Poland 22.2
121 Baghdad Iraq 22.1
122 Mersin Turkey 22
122 Montevideo Uruguay 22
123 Utrecht Netherlands 21.9
124 Copenhagen Denmark 21.6
124 Bursa Turkey 21.6
125 Minsk Belarus 21.5
125 Beirut Lebanon 21.5
125 Coimbra Portugal 21.5
126 The Hague (Den Haag) Netherlands 21.4
127 La Paz Bolivia 21.2
128 Kuala Lumpur Malaysia 21.1
128 Rabat Morocco 21.1
128 Lisbon Portugal 21.1
129 Maribor Slovenia 21
129 Baku Azerbaijan 21
130 Constanta Romania 20.8
131 Isfahan (Esfahan) Iran 20.7
131 Plovdiv Bulgaria 20.7
132 Sao Paulo Brazil 20.6
132 Alexandria Egypt 20.6
133 Reykjavik Iceland 20.4
134 Haarlem Netherlands 20.3
135 Brasov Romania 20
136 Bogota Colombia 19.9
137 Porto Portugal 19.8
138 Coimbatore India 19.7
138 Casablanca Morocco 19.7
138 Edinburgh United Kingdom 19.7
138 Odessa (Odesa) Ukraine 19.7
139 Aberdeen United Kingdom 19.6
140 Coventry United Kingdom 19.5
140 Groningen Netherlands 19.5
141 Ulaanbaatar Mongolia 19.4
142 Brussels Belgium 19.3
143 Belfast United Kingdom 19.2
143 Vladivostok Russia 19.2
144 Porto Alegre Brazil 19
145 Manchester United Kingdom 18.9
145 Antwerp Belgium 18.9
146 Kiev (Kyiv) Ukraine 18.8
147 Gent Belgium 18.7
147 Tunis Tunisia 18.7
148 Eindhoven Netherlands 18.6
149 Honolulu United States 18.5
150 Boston United States 18.3
150 Valencia Spain 18.3
151 Perth Australia 18.2
152 Istanbul Turkey 18
152 Adelaide Australia 18
153 Izmir Turkey 17.7
153 New York United States 17.7
154 Dublin Ireland 17.6
155 Medellin Colombia 17.4
155 Rotterdam Netherlands 17.4
156 Lima Peru 17.3
156 Kharkiv Ukraine 17.3
157 Amman Jordan 17.2
157 Chisinau Moldova 17.2
158 Quezon City Philippines 17.1
159 Nairobi Kenya 17
160 Lviv Ukraine 16.9
160 San Diego United States 16.9
161 Austin United States 16.6
162 Los Angeles United States 16.5
162 Raleigh United States 16.5
162 Asuncion Paraguay 16.5
163 San Francisco United States 16.4
164 Mexico City Mexico 16.1
165 Surat India 16
166 Lahore Pakistan 15.9
166 Canberra Australia 15.9
167 Guayaquil Ecuador 15.7
168 Tehran Iran 15.6
168 Phnom Penh Cambodia 15.6
168 Nicosia Cyprus 15.6
169 Christchurch New Zealand 15.5
170 Albuquerque United States 15.3
171 Seattle United States 15.1
171 Santa Cruz Bolivia 15.1
172 Calgary Canada 15
173 Dnipro Ukraine 14.9
174 Marrakech Morocco 14.4
175 Nanaimo Canada 14.3
176 Quito Ecuador 14.2
177 San Jose United States 13.7
178 Monterrey Mexico 13.4
179 Cuenca Ecuador 13.3
180 Cape Town South Africa 13.2
180 Guadalajara Mexico 13.2
180 Muscat Oman 13.2
180 Portland United States 13.2
180 San Antonio United States 13.2
181 Ad Dammam Saudi Arabia 13.1
182 Ankara Turkey 13
183 Cairo Egypt 12.8
184 Barranquilla Colombia 12.7
185 Islamabad Pakistan 12.6
186 Jeddah (Jiddah) Saudi Arabia 12.5
187 Cork Ireland 12.4
188 Faisalabad Pakistan 12.3
189 Guatemala City Guatemala 12.1
189 Mashhad Iran 12.1
190 Doha Qatar 11.9
191 Riyadh Saudi Arabia 11.8
192 Denver United States 11.6
192 Tashkent Uzbekistan 11.6
193 Almaty Kazakhstan 11.5
194 Bishkek Kyrgyzstan 11.4
194 Edmonton Canada 11.4
194 Miami United States 11.4
195 Ramallah Palestine 11.2
195 Santo Domingo Dominican Republic 11.2
195 Yerevan Armenia 11.2
196 Merida Mexico 11
197 Astana (Nur-Sultan) Kazakhstan 10.9
198 Ahmedabad India 10.8
198 Larnaca Cyprus 10.8
198 Nashville United States 10.8
198 Salt Lake City United States 10.8
199 Fort Lauderdale United States 10.7
199 Reno United States 10.7
199 Tampa United States 10.7
200 Abu Dhabi United Arab Emirates 10.6
201 Panama City Panama 10.3
202 Antalya Turkey 10.1
202 Limassol Cyprus 10.1
203 Jacksonville United States 10
204 Addis Ababa Ethiopia 9.8
205 Atlanta United States 9.7
205 Dubai United Arab Emirates 9.7
205 Orlando United States 9.7
206 Batumi Georgia 9.6
206 Tbilisi Georgia 9.6
207 Las Vegas United States 9.5
208 Caracas Venezuela 8.8
208 Chicago United States 8.8
208 Shiraz Iran 8.8
209 Dallas United States 8.5
209 San Juan United States 8.5
210 Charlotte United States 8.4
210 Houston United States 8.4
210 Johannesburg South Africa 8.4
211 Durban South Africa 8.1
212 Phoenix United States 7.2
213 Pretoria South Africa 5.7
214 Yangon Myanmar 4.9
215 Lagos Nigeria 1.6

Data from Numbeo

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