A new ranking of Airbnb rental locations has made the Canadian city one of the ten most expensive places in the world. And no, this is not Toronto or Vancouver.
The unexpected winner was the capital of the country - Ottawa.
A new report by CIA Landlords conducted its research around the world based on several factors, including not only the cost of a 1-week stay on Airbnb in each city, but also the average cost of living in those cities, with a particular focus on how much it would cost to shop for groceries in the duration of your stay in each of these places.
The study only looked at the capital cities of 38 OECD countries. However, a lot of valuable information can be gleaned from the study on how the cost of living in Canada compares to other major cities around the world.
According to research, the average Airbnb rental in Ottawa for 1 week is CA$1,209.13.
In terms of food, the study calculated the average food basket in each of these cities based on the following list of foods:
500 g fresh white bread;
1 liter of regular milk;
a dozen eggs;
1 kg of local cheese;
1 bottle of mid-range wine;
1 kg of potatoes.
Thus, the average cost of a food basket in Ottawa was $48.07. Notably, the study found that the cost of groceries in Ottawa is among the top 10 most expensive metropolitan cities in the world, which, given the recent talk about the cost of groceries in Canada, probably won't surprise anyone.
So, here's how Ottawa ranks among the most expensive cities for a 1-week stay on Airbnb:
- Bern, Switzerland (Airbnb CA$1,468.24, food bundle CA$71)
- Reykjavik, Iceland (Airbnb CA$1,987.26, Food Bundle CA$64.31)
- Washington, USA (Airbnb CA$1,784.91, food bundle CA$54.46)
- Seoul, South Korea (Airbnb CA$729.31, Food Bundle CA$54.24)
- Paris, France ( Airbnb CA$1,650.57, Food Bundle CA$52.11)
- Luxembourg ( Airbnb CA$1,439.45, food bundle CA$49.68)
- Oslo, Norway (Airbnb CA$1,343.49, food bundle CA$49.41)
- Canberra, Australia (Airbnb CA$1,429.86, food bundle CA$48.39)
- Ottawa, Canada (Airbnb CA$1,209.13, food bundle CA$48.07)
- Brussels, Belgium (Airbnb CA$1,017.21, food bundle CA$44.05)
Even though Ottawa made it into the Top 10, the average Airbnb cost in Ottawa doesn't come close to the cost in cities like Washington DC and Reykjavik.
The cost of food in Ottawa is also one of the lowest among these 10 metropolitan cities.