The Global Cities Business Alliance has analysed the most expensive cities to rent in the world, as a proportion of residents' average salaries.
In each city, the report gives the cost of a normal home - standardised by the average house size - and the average housing cost as a proportion of earnings.
Lesley Saville, chief executive, said: “The 15 cities we investigated are all struggling to keep housing development in line with population growth. There is no simple solution."
At number 15, Boston was the only city analysed where the average housing cost was no more than 30pc of income - considered an affordable level. Rents come in at around 29.8pc of average net earnings, with what was deemed to be a normal size flat costing £1,075.
In Sao Paulo, rents cost £335 a month, with the average housing cost equivalent to 30.2pc of net earnings. However, the cost of accommodation has risen rapidly - the average monthly cost of housing in the city was 33.8pc higher in 2015 than it was in 2009.
In Sydney, rents came in at £775 a month, meaning average housing cost was 32.1pc of net earnings.
Renting a home in Singapore will cost around £721, or 33pc of net income.
Chicago's rents are around £961 a month. A home in the Windy City would cost you 35.6pc of your income.
In Paris, it will cost you £614 to rent a home. Average housing costs came in at 36.2pc of salaries.
You thought London was expensive - it's only number nine on the list. At a normal monthly rent of £998, the average housing cost would be around 50.4pc of your salary.
San Francisco homes are the most expensive of the 15 cities at £1,970 a month, but wages are higher in the city so housing costs are 50.5pc of earnings.
In Dubai, housing costs are 55.4pc of earnings. Renting a normal home in the city costs £893 a month.
Mexico City rents were the lowest on the list at £269 a month. However, low wages mean housing takes up 58pc of people's net earnings.
At £361 a month, Shanghai rents look relatively cheap. But the report found that the average housing cost for the city's residents is 58.3pc of their net salaries.
New York's rent was £1,834, with housing typically taking up 63.1pc of earnings.The report found that if housing costs had risen in line with inflation since 2010, wages in New York City in 2015 could have been as much as $12bn higher, or 3.8% of the total wage bill. This is because higher housing costs lead to greater wage demands from workers."Firms may need to pay employees more in order to retain staff and attract top talent," the report said.
If you want to rent a flat in Hong Kong it will cost you £1,347 - sucking a hefty 64pc of your wages.
In Abu Dhabi, the average annual cost of housing was 69.5pc of net earnings, with renting a normal house costing £1,716.
The number one spot goes to Beijing, where the average cost of housing is a whopping 122.9pc of net earnings, pushing many people out of the city. Normal home costs £551 to rent - by no means the highest amount, but with low wages, the cost of housing is at an unaffordable level.
Reference:http://www.telegraph.co.uk/business/2016/04/21/which-world-city-is-most-expensive-when-it-comes-to-renting-a-ho/beijing/