By Staff writer
New study puts Qatar capital ahead of Singapore, Zurich and Washington DC for residential rental costs
Doha has been declared the world's 10th most expensive city to rent a home in, putting it ahead of global capitals such as Singapore, Zurich and Washington DC.
A new study examining the global mid-year cost of living for 2015 through various indices ranked Doha in 205th place for its overall living costs, Construction Week Online reported.
The study, by Numbeo, is based on user-contributed information, and uses figures from New York City (NYC), which has been given a base score of 100, as a benchmark.
The cost of daily living in Doha was found to be equivalent to 73 percent of the same costs in NYC.
Doha’s figures include 1,236 entries over 18 months from 174 contributors who submitted costs for all their regular outgoings.
Accommodation rent significantly increased the cost of living in Doha, where an average one-bedroom apartment in the city center costs up to $2,422 (QR8,816), and three-bedroom apartments cost $4,354 (QR15,851). Doha residents' spending on rent comprises more than 52 percent of their monthly expenses, the report added.
According to Numbeo’s figures, the cost of renting a one-bedroom apartment in the city has risen 233 percent, from $726 (QR2,645) in 2010 to the current average of $2,422.
Rent for a three-bedroom apartment has more than doubled in price since 2010, from $2,101 (QR7,650) to $4,354.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.