The Median Price of Renting a 1-Bedroom in 10 Asian Cities

Renting a place in a major city in Asia can be a significant financial decision, especially considering the high cost of living in urban areas. Financial experts generally recommend that individuals spend no more than about 30% of their pre-tax income on rent. After analyzing data collected in April from various government sources and real estate platforms in each country, researchers at the Global Property Guide compiled a list of median rental prices in several major cities across Asia.

Median Rental Prices in Asian Cities

– In one city, the median rent for a 1-bedroom apartment is $481 with a buying price per square meter of $3,882.
– In another city, the median rent for a 1-bedroom apartment is $688 with a buying price per square meter of $2,280.
– Another city has a median rent of $698 for a 1-bedroom apartment with a buying price per square meter of $1,726.
– Yet another city has a median rent of $735 for a 1-bedroom apartment with a buying price per square meter of $3,903.
– In a different city, the median rent for a 1-bedroom apartment is $805 with a buying price per square meter of $3,813.
– Another city has a median rent of $816 for a 1-bedroom apartment with a buying price per square meter of $17,551.
– In one city, the median rent for a 1-bedroom apartment is $1,080 with a buying price per square meter of $6,485.
– In another city, the median rent for a 1-bedroom apartment is $1,216 with a buying price per square meter of $8,837.
– A different city has a median rent of $2,173 for a 1-bedroom apartment with a buying price per square meter of $25,802.
– Lastly, one city has a median rent of $4,590 for a 1-bedroom apartment with a buying price per square meter of $16,619.

Market Trends in Asia

In 2023, Asia’s housing market experienced a decline due to weakening economic growth and an inflationary environment, according to a report by the Global Property Guide. Hong Kong faced challenges in its housing market as residential construction activity dropped by over 34% year-over-year, and inflation-adjusted residential property prices decreased by more than 9% in 2023. Similarly, regions in Southeast Asia such as Ho Chi Minh City, Vietnam, and Malaysia also saw a decline in housing prices. However, cities like Taipei and Singapore remained resilient amidst the overall market conditions, with housing prices increasing by 5.17% and 2.74% in 2023, respectively.