London is the world's second most expensive city to rent a property, says a recent study by housebuilder Barratt.
The research looked at what it costs a tenant earning an average income to rent a one-bedroom apartment in 20 cities around the world.
In London, where the average one-bedroom flat is around £1,250 per month, tenants pay out at least 45% of their salary. Renters in San Francisco, where the average one-bedroom flat costs approximately £2,768 per month, paid the highest percentage of their salary at 47%.
The other cities that made it into the top five most expensive places to rent a property were Hong Kong (44%), Tokyo (42%) and New York (40%).
Andrew Scott, Vice President of Global Account Management with Dwellworks said: “Setting correct expectations is one of the greatest challenges when moving people to London. They may have lived in cities all over the world where it is possible to get a larger property for their budget.
“Each move is unique and it is important for us to quickly establish where priorities lie. Location, commute times, schools, vibrant night life, property size, budget – whichever of these is most important will determine the areas of London that become the main focus for our homesearch.
“Fortunately, London has something for everyone and the excitement of living in one of the world’s biggest cities guarantees its enduring popularity.”