Bloomberg places Kyiv second among cities with least affordable housing

Source : 112 Ukraine

The rent in Kyiv amounts to two months salaries
13:14, 23 October 2017

Kyiv took second place regarding the cost of housing rent, letting ahead only the capital of Venezuela, Caracas. This was stated in the rating, published by the Bloomberg agency.

“Emerging economies currently have the least-affordable housing, led by Caracas and Kiev in Ukraine. The remaining cities among the bottom 20 include seven in Asia and six in Latin America. London is the least-affordable major city in Western Europe, with average monthly rent and mortgage payments equaling 135 percent of monthly net income,” the message says.

According to the Bloomberg rating, rental housing in Kyiv costs an average of $609, which is two monthly wages ($286). In this component, the Ukrainian capital is only ahead of Caracas, where rental housing costs 14 monthly salaries.

Related: Former player for Dynamo Kyiv Kakha Kaladze to become mayor of Tbilisi

Buenos Aires (5th place), Moscow (7th place), Beijing and Shanghai (9th and 10th places) also entered the top ten cities with the least affordable housing.

London is the most expensive city to live in Western Europe.

As it was reported earlier Kyiv plans to join the international Construction Sector Transparency (CoST) initiative on the quality audit of the roads. The Director General of the public corporation Kyivavtodor Olexandr Gustelev claimed this at the briefing.

According to him, the negotiations with the international initiative CoST almost finished. This initiative holds the quality audit of the building and efficiency of the application of the funds.

Related: Five thousand cameras in Kyiv helped in search for a baby, - Klitschko

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