Qatar Ranks Third for Highest Monthly Spend on Rent Globally, says Study
How much are you spending on rent?
A new study by money.co.uk reveals that residents of Qatar spend 43.73% of their monthly outgoings on rent, the third-highest percentage spent on rent in the world.
The research looked at the average cost of rent for a three-bed property in over 50 developed nations around the world and compared it to the costs of living for a family of four.
Hong Kong was revealed to be the country spending more on rent compared to overall monthly outgoings. In fact, Hong Kong is the only country where the average person actually pays more for their rent than all the rest of their living costs combined. The average three-bed property costs an average of €3,220 per month, approximately equivalent to QAR13,891, which is more or less equal to the monthly cost of looking after a family of four.
Singapore takes second place where the average rent takes up just over 47% of average expenditure, followed by Qatar, where the average rent of €1,990 or QAR8,584 makes up 43.73% of the annual monthly expenditure.
In comparison, the country where rent takes up the smallest percentage of finances is Saudi Arabia, with an average rent equivalent to just €494 or QAR2,131 (19.07%), followed by Greece at 19.73% equivalent to €530 (QAR2,286) and Turkey, 20.11% or €292 (QAR1,259).
A copy of the full research is available here.
€1 = QAR4.31 / €1 = £0.85 / £1 = QAR5.07 (as of 5 August 2021)
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