Manila's apartment rental rates: One of the cheapest in Asia?
“Manila has one of the lowest rents in Asia- poll”
I was pleasantly surprised and ecstatic to read a headline that Manila has one of the lowest rents in Asia. That should be encouraging for foreign based Pinoys and other nationalities who are looking for a place to retire and spend their life savings. It's time that we get some good news for a change.
In these times were negative reports seem to be the order of the day, a glint of heroism like Pacquiao's victorious conquests and other positive news like a higher GDP lifts my spirit the way 5 shots if tequila does. However, when I checked the source of the news, the truth left me with a broken heart. Here's what I found:
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Both the most expensive and cheapest cities in the world in terms of apartment rental costs can be found in Asia. Hongkong has the highest rental rates for 3 bedroom apartments while Karachi's rates are the cheapest.
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The global average rate is for a 3 bedroom apartment is $2950 while in Asia, it is $3820.
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Manila, at number 14 in Asia and number 44 in the world, is among the HIGHEST, not the cheapest.
Come to think about it, there are so many cities in the country where we all know has lower rates than Manila.
Oh my, so much for the supposed good news. That got me burned. In the vernacular, it's called Nakuryente.
