Where is Cheapest Place to Rent in the World?

Budget travellers looking to rent an apartment abroad for their next vacation might want to consider a trip to Madagascar, Jordan or the Ivory Coast.

These three countries have the cheapest rental properties available anywhere in the world, according to data released this week by leading property portal Lamudi.

The data, drawn from an analysis of more than 500,000 property listings on the Lamudi website, reveals that Madagascar has the world’s cheapest apartment rental. For house-hunters or ‘staycationers’, the lowest rental price in the country is 1500 Malagasy ariary – or about 60 US cents per month.

In Jordan, the cheapest apartment is priced at five Jordanian dinar, or just over $7 USD a month. The only catch is you will have to pay your rent upfront for 12 months, bringing your accommodation costs to just $84 USD for one whole year.

Meanwhile, the third cheapest apartment on the Lamudi website is located in the Ivory Coast. At a cost of 6000 West African CFA franc, renters will pay the equivalent of $12.3 USD per month.

By comparison, the cheapest rental property in the Philippines, an emerging luxury property market, will set you back just under $900 USD per month. Ghana has the highest minimum rental price from around the Lamudi network, with the cheapest apartment costing the equivalent of about $924 a month.

In total, four out of Lamudi’s five cheapest rental properties are located in Africa. Renters can also get incredible value for money in markets in Asia and Latin America, with countries including Indonesia, Pakistan, Bangladesh and Mexico in the top 10.

Minimum Prices for Apartments to Rent:

From cheapest to most expensive:

* Yearly rent to be paid up front