Savills: Average rental cost for typical employee of IT or financial services firm in Mumbai of USD29,088 p.a.
In its recently published report ‘12 Cities: Occupying and investing in world city real estate’, Savills note that, for the typical employee of a digital start-up or hedge fund, the average annual housing rental cost in Mumbai is USD29,088, or 2.4% more than in 2008. The rental cost is currently equivalent to 5.0 times the city’s overall GDP per capita of USD5,781 per annum. Across the 12 cities surveyed, the average annual rent has risen by 9.3% since 2008 to USD74,946, which is 1.4 times overall per capita GDP of USD55,973.
Source : October 2015/Savills/Mumbai/RES