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Where is Cheapest to Rent Around the World?

Where is Cheapest to Rent Around the World?

lamudi-logoLeading property portal releases research on world’s cheapest places to rent

JULY, 28 2014: Budget travelers looking to rent an apartment abroad for their next vacation might want to consider a trip to Madagascar, Jordan or the Ivory Coast.

These three countries have the cheapest rental properties available anywhere in the world, according to data released this week by leading property portal Lamudi.

The data, drawn from an analysis of more than 500,000 property listings on the Lamudi website, reveals that Madagascar has the world’s cheapest apartment rental. For house-hunters or ‘staycationers’, the lowest rental price in the country is 1500 Malagasy ariary – or about 60 US cents per month.

In Jordan, the cheapest apartment is priced at five Jordanian dinar, or just over $7 USD a month. The only catch is you will have to pay your rent upfront for 12 months, bringing your accommodation costs to just $84 USD for one whole year.

Meanwhile, the third cheapest apartment on the Lamudi website is located in the Ivory Coast. At a cost of 6000 West African CFA franc, renters will pay the equivalent of $12.3 USD per month.

By comparison, the cheapest rental property in the Philippines, an emerging luxury property market, will set you back just under $900 USD per month. Ghana has the highest minimum rental price from around the Lamudi network, with the cheapest apartment costing the equivalent of about $924 a month.

In total, four out of Lamudi’s five cheapest rental properties are located in Africa. Renters can also get incredible value for money in markets in Asia and Latin America, with countries including Indonesia, Pakistan, Bangladesh and Mexico in the top 10.

Minimum prices for apartments to rent

From cheapest to most expensive

Country

Minimum Rent (Local Currency)

Minimum Rent (US Dollars)

Madagascar

1500 AR

0.60cent

Jordan

5 JOD

7.06*

Ivory Coast

6000

12.3

Kenya

1700

19.32

Cameroon

10000 CFA

20.54

Indonesia

300000

26*

Ghana

134

45

Bangladesh

3,500

45.2

Pakistan

5000

50.7

Mexico

800

59

Sri Lanka

8000

61

Mozambique

2048

65

Tanzania

165 DT

95.58

Uganda

99

99

Zimbabwe

100

100

Myanmar

1 LKS

102.67

Ethiopia

2400 BR

125

Nigeria

30000

188

Peru

528

190

Mauritius

8000 RS

260.58

Algeria

25000 DA

314

Zambia

2000

319

Tanzania

514707

320

Saudi Arabia

1500 SR

399.9*

Colombia

450 $

450

Rwanda

471419 FRW

700

Congo

700000

757.78

Philippines

39000

897

Ghana

450000 CFA

924.31

* Yearly rent to be paid up front

ABOUT LAMUDI
Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 500,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.

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