This archive report was first published on 14 May 2020.
With the global economy in turmoil, many people are struggling to make ends meet, and rent is becoming an unaffordable luxury for some. In some countries, the rent burden is particularly high, with tenants facing steep prices and limited options.
Take Lagos, Nigeria, for example, where a year's rent is often paid upfront. According to Ola, a digital media agent, a two-bedroom house in the city can cost anywhere from Sh220,000 to Sh600,000 per year, depending on the area. While these prices may seem high, they pale in comparison to the exorbitant costs of renting in cities like Hong Kong, where the average rent is a staggering Sh400,000 per month - 19.4 times the average household income.
So, what's driving these high prices? In Hong Kong's case, it's a combination of high population density and a lack of new housing. The result is a severe shortage of affordable housing, with many people forced to live in cramped and expensive
