Booming Markets Buck The Trend

Most renters worldwide are beaming as monthly expenses drop; those who can afford to buy are snatching up real estate while it's cheap and interest rates are rock-bottom. Asia, however, is a different story. Upticks in rental prices were the norm in many markets during the latter half of this year, and both prices and transaction volumes in the Asian luxury residential market climbed in a number of cities. Prices are especially striking when compared with a locale's per-capita income. According to data from Mercer's cost-of-living study, here are 16 cities in the Asia-Pacific region where it's most expensive to live.