London is the globe’s second most expensive city for renters, according to research by housebuilder Barratt London.

The study analysed 20 cities based on the percentage of a tenant’s salary needed to rent a one-bedroom apartment.

Barratt estimates that the average London renter would need to spend approximately 45% of their monthly wage in order to rent a typical one-bedroom apartment charged at £1,250 per month.

San Francisco is the only city where tenants spend a higher proportion of their average wage on rent at 47%. The typical cost of a one-bedroom apartment in the Californian city is £2,768 per month.

The top five is made up by Hong Kong (44%), Tokyo (42%) and New York (40%).

Prague and Cape Town are the cities most relative in respect to income and rental prices, with wage to rent ratios of 21% and 23%. 

Tenants in Dublin, where rents average at under £950, spend just 25% of their salaries on rent payments. 

“Rental prices in London continue to demand too much of the occupier, to the extent of almost half of their monthly pay cheque,” says a spokesperson for Barratt London.

“Renting must remain a viable option for those looking to move home.”