Price Water Corporation (Pwc) Opportunity report also lists Lagos at 28 position of 30 cities, having compiled a list of the best cities in the world to live and work in. The ranking is the result of an in-depth analysis of the most prosperous global business, finance and culture capitals, which considers different factors from infrastructure, to intellectual capital, sustainability and ease of doing business.<\/p>\n
CHECK: PROPERTIES FOR SALE IN NIGERIA<\/a><\/p>\n The researchers also considered the amount people earn in these cities and whether these salaries are enough to afford a decent rental apartment. They also looked at the current\u00a0 rents in the top global financial centres, but not restricted to cities with outstanding activity in the financial sector, and bringing into the equation the affordability of local housing prices too.<\/p>\n What this report shows is that renters in Mexico City, Manhattan and Lagos face hard time concerning rent affordability, that is, the rent takes up more than half of a household\u2019s income each month (60 per cent, 59per cent and 57per cent respectively). \u00a0This implies that Lagos residents spend 57 percent of their income on rent. Mexico City is the world\u2019s most unaffordable city for renters with a 60per cent rent burden. The 40per cent rent-to-income ratio places London among the moderately rent-burdened global powerhouses of the world. Kuala Lumpur, according to the report, is the most affordable city. Rent barely takes 20per cent of the median household income in Malaysia\u2019s capital city.<\/p>\n According to the\u00a0Communications Specialist\u00a0 for RENTCaf\u00e9, Amalia Otet,\u00a0 researchers used the\u00a0 list of the world\u2019s top cities of opportunity as published in the latest issue of their Cities of Opportunity report and\u00a0study the overall average rents or their US Dollar-equivalents adjusted for inflation as necessary.<\/p>\n In the report,\u00a0London slide back 21 places when ranked by rental affordability, with the\u00a0seven out of the top 10 most affordable cities of opportunity catapulted\u00a0 straight from the lower third of the initial ranking.<\/p>\n \u201cLondon is famously expensive. And so is LA. But is this just an outside perception or the sad reality? Our research team here at RENTCaf\u00e9 looked at rental prices in the world\u2019s 30 best cities to live in and compared them with the local median incomes to see just hom (un)affordable these fine urban hotspots are\u201d, Otet noted.<\/p>\n According to the study, Kuala Lumpur, Moscow and Johannesburg ranked as the most affordable cities of opportunity from the 20th, 22nd and 24th places of the original ranking, respectively. Also two South American markets on the 4th and 5th places, Bogot\u00e1 and Rio de Janeiro\u00a0 moved the farthest from their original positions\u201422 places up from 26th and 27th.<\/p>\n Regarding the ranking, Lookman Oshodi, an urban development expert, said the ranking is not unexpected considering increase in inflation that the country has witnessed in the past few years. He noted that in the past two years, however, most property owners have maintained rent freeze.<\/p>\n
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