Rio de Janeiro’s average monthly take-home pay of US$640 cannot cover a rental even on the outskirts of town, which could explain why more than one in five Rio residents lived in informal shanty towns called favelas in 2010. Photo: AP

Is the rent too high? Yes, in most cities globally

Emerging economies currently have the least-affordable housing, while London is the least-affordable major city in western Europe

Topic |   International Property

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Rio de Janeiro’s average monthly take-home pay of US$640 cannot cover a rental even on the outskirts of town, which could explain why more than one in five Rio residents lived in informal shanty towns called favelas in 2010. Photo: AP
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