Mumbai among World's 20 Most Expensive Cities for Luxury Rentals

8) Bogota, Colombia

Worldwide rank: 7

Bogota in Colombia stood at 7th position on the list of world’s most expensive cities for luxury rentals. Average rental amount per month for a 3-bedrrom luxury apartment in Bogota costs $5643 which is around 3,02,859.

Also Read: 15 Best Locations to Buy Home in India in 2013

9) Singapore

Worldwide rank: 8

One of the most preferred tourist destinations, Singapore, is an expensive real estate market in Southeast Asia. According to the latest data from ECA International, the average monthly rental amount for a 3-bedroom luxury apartment costs $5511 which is around 2,95,940. Moreover, Singapore is known for its high rate of taxes, mainly on rental incomes. And, foreign nationals have to pay an extra 10 percent along with the existing tax structure. Nearby areas of Orchard Road shopping belt is one of the most sought after luxury residential address in Singapore followed by Sentosa Cove.

Also Read: 15 Best Locations to Buy Home in India in 2013