Real Estate

Here’s how much it costs to rent a 1-bedroom apartment across 10 major cities in Asia

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Here’s the median price to rent a 1-bedroom across 10 cities in Asia. 

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Renting a place is a big financial decision, especially when choosing to live in a major city where price tags are particularly hefty.

The general rule of thumb is to spend no more than approximately 30% of your pre-tax income on rent, according to financial experts.

Based on data gathered in April from various government websites and large real estate marketplaces in each country, researchers at the Global Property Guide compiled a list of median rental prices across several major cities in Asia.

The numbers listed below are based on the median buying price per square meter and the median monthly rental price for a 1-bedroom apartment in the most expensive region within each respective city:

Mumbai, India

Median rent for a 1-bedroom: $481

Buying price per square meter: $3,882

Hanoi, Vietnam

Median rent for a 1-bedroom: $688

Buying price per square meter: $2,280

Jakarta, Indonesia

Median rent for a 1-bedroom: $698

Buying price per square meter: $1,726

Kuala Lumpur, Malaysia

Median rent for a 1-bedroom: $735

Buying price per square meter: $3,903

Manila, Philippines

Median rent for a 1-bedroom: $805

Buying price per square meter: $3,813

Taipei, Taiwan

Median rent for a 1-bedroom: $816

Buying price per square meter: $17,551

Bangkok, Thailand

Median rent for a 1-bedroom: $1,080

Buying price per square meter: $6,485

Tokyo, Japan

Median rent for a 1-bedroom: $1,216

Buying price per square meter: $8,837

Hong Kong

Median rent for a 1-bedroom: $2,173

Buying price per square meter: $25,802

Singapore

Median rent for a 1-bedroom: $4,590

Buying price per square meter: $16,619

In 2023, Asia’s housing market faced a downturn amid weakening economic growth and the inflationary environment, according to a report by Global Property Guide.

“Hong Kong’s housing market woes continue, amidst [a] struggling economy,” as residential construction activity in the region fell by more than 34% year-over-year and inflation-adjusted residential property prices plunged by more than 9% in 2023, according to the report.

Prices for housing in regions of Southeast Asia such as Ho Chi Minh City, Vietnam (-1.18%) and Malaysia (-1.06%) have also fallen.

On the other hand, cities like Taipei and Singapore remain resilient despite the overall market environment — with housing prices up 5.17% and 2.74% in 2023, respectively.

Overall, the global housing market seems to be stabilizing as inflationary pressures ease in many countries and central banks pause their rate hikes, according to the report.

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