The escalating demand for residential and commercial properties in the major cities of the world is responsible for the staggering property rents in the bustling metropolis. Scarcity of supply of good quality apartments and houses is usually considered as the key reason for the exorbitant property rentals that add to the cost of living in these cities. However, the cities of Europe and North America are not the only ones that boast of exorbitant property rents. It is also pretty expensive to rent properties in the commercial centers of developing nations and in the leading luxury holiday destinations of the world. Visit the link below to know more about the world’s most expensive cities for renting property.