what 40000 a year gets you in top cities around the world
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

What $40,000 a year gets you in top cities around the world

Arab Today, arab today

Arab Today, arab today What $40,000 a year gets you in top cities around the world

In Abu Dhabi, the $40,000 annual budget would rent a two-bedroom apartment of up to 1,400 square
London - Arab Today

The National had a look at what US$40,000 (Dh146,916) a year would get you in terms of renting an flat in major cities.
Zurich in Switzerland came out as the city in which you could end up in the smallest flat – with a 807-square-foot historic flat close to the Zurcher Bahnhofstrasse taking up your annual budget.
In London, your money could get you a 850 sq ft flat in a secondary prime area such as Bayswater, Earls Court, Hampstead Heath, Notting Hill, Marylebone, Regent’s Park, Pimlico, South Kensington or St John’s Wood.
In the United States, a budget of $3,333 a month would get you a one-bedroom flat in Manhattan or prime areas in San Francisco.
In Paris, you could rent a 1,000 sq ft flat on the Rue Du Pont Aux Choux in the city’s Third Arrondissement.
In Dubai, Abu Dhabi and Doha, Dh146,916 could get you a two-bedroom flat.
In Abu Dhabi, you could get a two-bedroom flat of up to 1,400 sq ft in the Raha Beach neighbourhood or a two or three bedroom flat on Reem Island – although it would also pay for a much larger flat or villa in cheaper locations such as Khalifa City A.
At the other end of the scale, Cape Town was where $40,000 a year would get you the most for your money, renting a 3,000 sq ft house in areas such as Bakoven, Bantry Bay, Camps Bay, Clifton, Fresnaye, Green Point, Mouille Point, Hout Bay, Waterfront, and City Bowl.
So, why is it that, despite their small population sizes, GCC cities are relatively expensive to rent?
Analysts pointed to the fact that cities in the region typically have a large number of expatriates who are often in receipt of generous housing allowances, which pushes up the prices of the most desirable properties.
"In terms of the rental costs, my view would be that as a proportion of population, the expat and corporate relocation market would be larger in Dubai, Abu Dhabi and Doha than in cities such as New York and London," said Kate Everett Allen, a partner in international residential research at Knight Frank.
However, analysts also said that this sort of snapshot of properties available in various world cities was not a definitive study, and property rents within each city vary greatly depending on location and condition of each property as well as the amenities available.
Secondly, the type of housing stock also makes a difference to the size of flats available within each price band. This means our budget may well rent a much smaller flat in Zurich than other major world cities because the city’s housing stock is typically older and smaller.
Currency fluctuations may also play a part, with the value of sterling down nearly 20 per cent against the US dollar since the Brexit vote and the Swiss franc holding strong against most other currencies.
Arlene Jimenea, a senior research analyst at CBRE Middle East, said there was a variety of properties on offer within the same price bands.
"For roughly Dh147,000, tenants could get a two-bedroom flat in central locations in Abu Dhabi, including newly completed developments in investment zones [eg: Reem Island and Al Raha Beach]," she said.
However, residents willing to go out to locations such as Khalifa City or Mohammed Bin Zayed City, could get a three-bedroom flat for the same amount.
"In Doha, residents willing to pay $40,000 a year could likely get a two-bedroom flat in prime locations such as the Pearl Qatar, West Bay and Diplomatic Areas," she said.
"But for the same price, housing options expand to include relatively larger units in communities on the periphery of the city."
* This story has been updated for the purpose of clarity.

Source: The National

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

what 40000 a year gets you in top cities around the world what 40000 a year gets you in top cities around the world

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

what 40000 a year gets you in top cities around the world what 40000 a year gets you in top cities around the world

 



GMT 16:16 2014 Wednesday ,10 September

Samirah Ibrahim receives Saudi cultural attaché

GMT 09:32 2017 Sunday ,24 September

China confirms will limit oil exports to North Korea

GMT 19:56 2016 Saturday ,17 September

Typhoon Meranti death toll rises to 28

GMT 09:40 2018 Monday ,01 January

OIC Summit opens in Kazakhstan

GMT 06:37 2015 Monday ,07 December

Iran film directors protest colleague's jail term

GMT 18:37 2017 Friday ,25 August

Mental health issues should be prioritized

GMT 04:39 2017 Thursday ,31 August

Trump vows to right 'self-destructive' tax code

GMT 05:29 2017 Tuesday ,22 August

Celebrations across India on 71st Independence Day

GMT 10:54 2017 Wednesday ,11 October

Child obesity grows tenfold since 1975

GMT 02:31 2016 Tuesday ,06 December

Dubai Women Establishment delegation participates

GMT 04:29 2018 Wednesday ,19 September

North and South Korea: Kim and Moon hail new future

GMT 14:18 2013 Monday ,19 August

Newlywed Lebanese couple pose at car bomb site

GMT 11:11 2011 Friday ,12 August

Palestinian university ranks seventh in Arab world

GMT 15:16 2015 Wednesday ,26 August

UAE ambassador attends charity ceremony in Qalubiya

GMT 16:59 2016 Tuesday ,26 July

Hedge funds in new cycle of oil short-selling
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday