Beirut Is World's 10th Costliest City for Expat Housing, Byblos Bank Says

Lebanon’s capital, Beirut, is the 10th most expensive rental city in the world for expatriate housing in 2010, compared with its rank of 28 last year, Byblos Bank SAL said.

The city is ahead of Paris, Abu Dhabi, Amsterdam, Geneva and Rio de Janeiro and behind Singapore, Osaka, New York City, Moscow, Hong Kong and London, the bank said in an e-mailed report, citing a survey by EuroCost International.

Tokyo remains the most expensive city in the world for expatriates.

Beirut is the most expensive city in the Middle East this year, because of the increase in rental prices, the bank reported, citing the survey, which evaluated the average rental cost of two- and three-bedroom apartments for expatriates.

To contact the reporter on this story: Massoud A. Derhally in Beirut, Lebanon at mderhally@bloomberg.net

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