City ‘most affordable in UK’ for flat rentals
GLASGOW is the most affordable city in the UK for renting a flat according to a new survey.
Private renters in the city need the lowest salary of eight large cities and is almost three times more affordable than London.
Single occupancy tenants need a monthly salary of £1524 or around £18,200 a year to afford a furnished flat in Glasgow compared to more than £4000 a month in the UK capital.
Edinburgh was the most expensive in Scotland requiring a monthly pay packet of more than £2100
For a flat large enough for a family the income needed in Glasgow was £2431 compared to more than £6000 in London.
The worldwide analysis of income required to afford a flat puts Glasgow among the most affordable.
The city was in 75th out of 100 major cities in Europe, America, Australia, Asia and the Middle East.
Glasgow was just ahead of Polish capital, Warsaw, Lille in northern France and Copenhagen in Denmark for affordability.
It was slightly more expensive than Spanish cities Malaga and Valencia and Naples in Italy.
The most expensive city in the world for renting was San Francisco, in California where a monthly income of more than £6000 was needed, New York and Boston were next highest.
The most affordable of the 100 was Guangzhou in China followed by Suzhou also in China and Belgrade, in Serbia.
The study looked at capitals, economic centres and large cities with a big ex-pat presence where people would move to for work.