World's top 10 most expensive cities to rent an apartment

China Daily

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San Francisco, with rent of $3,449, was crowned the most expensive city to rent a two-bedroom apartment in the world, followed by China's Hong Kong and the US's New York City, according to a report by Deutsche Bank.

Of the 47 cities the report covered, Shanghai, with rent costing on average $1,249, came in at No 24 this year. Last year, the average rent for a two-bedroom apartment in Shanghai was $1,325.

India's Bangalore, with rent averaging at $296, was the cheapest place to rent an apartment in the world.

Every year Deutsche Bank releases its annual survey of global prices, which looks at the costs of goods and services from a purchase-price equivalent basis to determine the most expensive cities around the world.

Let's take a look at the 10 most expensive cities in the world to rent an apartment.

No 10 Tokyo ($2,010)

Aerial view of Tokyo city at night, March 21, 2014. [Photo/VCG]

No 9 Sydney ($2,134)

General view of the Sydney Opera House and Sydney Harbor Bridge. [Photo/VCG]

No 8 Boston ($2,225)

View of Old South Church in Boston, Sept 18, 2014. [Photo/VCG]

No 7 Paris ($2,289)

The Eiffel Tower is seen at sunset in Paris, France, November 9, 2015. [Photo/Agencies]

No 6 Edinburgh ($2,361)

Princes Street is pictured from Calton Hill in the center of Edinburgh,Britainon June 27, 2016.[Photo/VCG]

No 5 Zurich ($2,520)

People drive a motorboat during sunny summer weather on the Limmat river in Zurich, Switzerland June 23, 2016. [Photo/VCG]

No 4 London ($2,617)

Joggers and pedestrians cross Westminster Bridge beside the Houses of Parliament and the Big Ben clock tower in London, UK, July 20, 2016. [Photo/VCG]

No 3 New York City ($2,909)

People in Hoboken, New Jersey view lower Manhattan and One World Trade Center in New York City during sunset on December 20, 2016. [Photo/VCG]

No 2 China's Hong Kong ($3,237)

A man sits on a bench in front of the Hong Kong Observation Wheel, center, and Two International Financial Center (IFC), center right, in Hong Kong, China, July 22, 2016. [Photo/VCG]

No 1 San Francisco ($3,449)

The north tower of the historic Golden Gate Bridge is viewed from the Marin Headlands on February 12, 2011 in San Francisco, California. [Photo/VCG]