The U.K. capital is now third behind New York and Hong Kong, according to research on global cities from property broker Savills. Meanwhile, in New York real-estate rents have increased marginally, Ms. Barnes said. Tokyo climbed to fourth on the list, with accommodation costs rising 22% to $85,334, the report said. London costs fell 11% to $100,141. Total accommodation costs in New York for one employee over a year were $114,010 in July, up 2% from December last year, the data show.

Source: Wall Street Journal August 04, 2016 12:16 UTC