Taiwan’s average price of an apartment is more than three times higher than the average price in the U.S., according to a report.
The average price for a three-bedroom apartment in Taipei, Taiwan, is $1,086 a month.
The highest prices are found in the city of Chiang Mai, which costs more than $2,500 a month, according to the study.
Taiwan’s price is one of the highest in the world, the report said.
A study published in the New York Times found that the average cost of a house in New York City in the first quarter of 2018 was $2.6 million, which was up from $1.8 million in 2017.
Renters are getting a better deal, though.
The median price of a three bedroom apartment in San Francisco, California, in the second quarter of 2017 was $1.,834 a month (or $1 million a year), according to data from real-estate website Zillow.com.
In Taipei the median price is $860 a month and the average is $895 a month for a two bedroom apartment.
In a recent survey, an average of 30 percent of respondents said they had a deposit in an apartment, up from 20 percent in 2015, the study found.
“The average rent for a rental apartment in Taiwan is about $2 million a month,” the study said.
“This is up from the average rent in the United States of $2 to $3 million a week, the same as the average in China.”
The median rent for the first time in 2017 was just $731 a month in the Taipei area, according a survey by real-name agent Liao Bao.
“I was very surprised at how low the rent in Taipei is,” Liao told The Associated Press.
“It is not the kind of rent I expect from the city, and I expect the city to keep it low,” he added.
The study found that people in Tai, the island nation of 3.3 million people, pay more than 30 percent more than the national average in rent per month, or about $1 per day.
People in Tai are living longer, at about six years of age, compared to people in the rest of the country, which averages two years of life, according the study from Liao and fellow real-names agent Jia Zhang.
Liao said the number of people living in Tai is also higher than in the mainland.
“In the past, people would say that they only had time to get married, so they would have a lot of kids,” Lacey Liao, the chief executive of Liao’s office in Tai-Chon, told AP.
“But today, you have the opportunity to have kids before you start your career.”
Liao added that in Tai’s housing market, a good apartment is a rare find.
“People like to buy them because they can afford them,” he said.
But for people who do not have the money to buy an apartment they are forced to rent out their spare bedrooms.