Where is Cheapest to Rent Around the World?

Posted on Jul 28 2014 - 6:54am by Huzoor Bux

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Leading 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


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.