Best International Cities For Elite Luxury Rentals

For the mega-rich looking for a luxury home, New York, London and Tokyo have the best choice.

For those with millions or even trillions stashed offshore, the world’s their oyster, with the pearls as regards luxury properties found in Tokyo, London and New York City. As well as boasting premier luxury developments, the attractions, events, facilities and luxury brand shops in these three destinations give those with real money to spend a taste of heaven, even although property prices have soared over the past several years.

Costs of luxury rentals increased by 5.4 per cent in New York City, with the supply of prime properties now exceeding demand as new developments are brought to the market. Even although the quality of the new developments is of an even higher standard, discounts are now being offered in order to fill the new apartment blocks with suitable members of the 21st century high society club. As a result, New York City is now tops for the planet’s wealthiest due to its combination of lifestyle, investment potential and desirability.

Tokyo is the world’s second most expensive city as regards upscale rentals, with prices averaging £1,940 a week and showing an increase over 2017 of 7.7 per cent. The city itself isn’t every millionaire’s choice, but for those for whom less is more, its combination of total luxury, convenience and quirky modern-day culture is the perfect mix. Surprisingly, London is ranked at number three as regards desirability for its entertainment, shopping, nightlife, international cuisine and luxurious rental homes. Although rents fell last year by just under three per cent, the average is still £1,700 a week.

Elite rentals in Hong Kong are just a tadge below their London equivalents, with the island expected to overtake the British capital in next year’s survey as the average cost is rising whilst London’s is falling. Amsterdam came in at fifth place with rental charges of £1,370 weekly for the Dutch capital’s desirable residences with all the trimmings. Prime rents in the city soared by nearly 20 per cent in 2017, spurred by an increase in the number of expat professionals and a shortage of suitable properties.

Beijing and Shenzhen were China’s contributions to the premier property listings, with rentals at £1,200 and £1,202 respectively. Nowadays, Shenzhen’s nickname is ‘China’s Silicon Valley’, with expat IT professionals on huge salaries spurring the demand for prime properties in the city.