Insane property rent prices are rich people just waste their money ?

[Oasisman]

What are this ? Whats wrong with rich people ? Why they hate money?

Maybe we're considering them rich because $120,000 in a year is a huge amount for us, but for them who choose to live near the places where there are a lot of opportunities to earn more are lurking around, these numbers does not mean so much for them. 
They maybe earning way more than us, but their cost of living are way over priced as well.
They're not actually wasting money, we just all have different preferences. The amount of rent they paid is enough to have comfortable living to a place where everything is accessible.

[Reatim]

People are not happy to pay 10k and it's a fairly narrow band of society that is paying those sorts of rents (if talking about UK, there's massive differences in the currencies between these countries). People only pay those rents when the market prices dictate it, either for the higher end luxury apartments and/or living in some of the most expensive areas in these cities. You also have to be careful making comparisons with places like Monaco, which are often just a tax haven for the super rich who buy residency for the zero tax rate which can actually lead to massive savings for them. The point you seem to miss is that while it looks incredibly expensive to you, it's the equivalent of them spending $10 or $100 out of their income in many cases. If you're earning a million a year, then paying 120k for rent is not that much out of it and you often want to live in those areas for your networking or social life.

Ok so what those people doing ? Where are those wages to earn to pay 10k month.
For average person tax evaiders and not honest ways comes in mind right to way.
Its not just logical someone will pay like 20k-30k month for rent....what business they are in ? Whats their recepie to wealth?

your first mistake is thinking there’s a wage of 10k usd to a simple employee. we might be thinking differently due to cultural differences because when i convert 10k usd to my own currency i know that if someone was earning that much in a month, they aren’t just working for someone.

if you want to reach that amount per month, maybe start your own business. build a start up. or unless you are an athlete or a celebrity then i don’t know if you can reach that much per month if you are the average employee

[Die_empty]

What are this ? Whats wrong with rich people ? Why they hate money?

Maybe we're considering them rich because $120,000 in a year is a huge amount for us, but for them who choose to live near the places where there are a lot of opportunities to earn more are lurking around, these numbers does not mean so much for them. 
They maybe earning way more than us, but their cost of living are way over priced as well.
They're not actually wasting money, we just all have different preferences. The amount of rent they paid is enough to have comfortable living to a place where everything is accessible.

Anyone who spends such an amount, earns a very high income. Some of them also work around the neighbourhood.  Moving to a house outside these major cities would lead to additional transportation and other costs. We should also take into account that these cities have higher-paying jobs than other cities.

I would frown at people who are struggling to pay house rent in these expensive areas. But if you can afford it, it doesn't matter how much you pay for an accommodation that is comfortable and makes life easier. I work in a rural area where the standard of living is low. But I wouldn't live there because there are fewer business and employment opportunities there. Urban areas also have better infrastructure and security.

[slapper]

To buy property is to come with political exposure, tax implications across borders. And there is illiquidity that somebody managing serious capital doesn't want. Renting at 30k a month is actually the rational choice if that amount is irrelevant to your net worth.

But some of it is just status. Pure and simple. Living in a certain address in Monaco indicates something to a certain social circle. And that is a signal that has real economic value. It is opening doors, building trust in business situations, it attracts certain kinds of partnerships. You might call it waste. Still, to them it's a price of doing business in a world. The perception has a strong direct impact on one's opportunity.

The case of the person who says 360k per year is "wasted" only makes sense if you assume that person had no other way of generating returns on that money. For most people paying that rent, 360k sitting in a property actually would be the waste. Dead capital doing nothing while they could put them to even better use somewhere where they will return multiples of the rent cost. Different world different math entirely.

[Ziskinberg]

If they are renting out for nothing, well they are definitely wasting their money. Unfortunately, rich people do not have that kind of mindset. They will pay no matter how expensive the price just to meet their goal and gain the satisfaction they have been longing for.

Rich people are somewhat risk takers as well, but they take risk only when the results are favorable. So renting these expensive properties aren't an issue to them, everyone must pay the price right especially when it comes to the views and amazing spots found in London and Monaco.

[Cookdata]

Now we look property rent prices very expensive ones yet there is a lot demand from wealthy people even the prices are grazy high.
What's the catch ? Places like new york london or monaco people are happpy to pay for rent in month 10k and that's just low.
Now if you pay 10k month its a 10k x 12 = 120 000 in year. So basecly people are happy to just throw away over 100k in one year.
And in monaco paying 30k $ for rent its very normal that's huge money what people are happy to just waste imagine you just waste every month 30k $ in one year you just waste 360k $ wich you can use to buy or even build house or property.



What are this ? Whats wrong with rich people ? Why they hate money?

Where there is money, expect money to be well spend. Check around county sides of NYC, there is nothing you will look for that city you will not see. It's a place where any rich individuals will want to stay, a very high standard place for conducting business and you think people will not rent those houses? If you don't rent it, people that see the value and like classic life will take up the place without thinking twice, you need class to attract clients and other business people.

You can't say the same when you visit places like Mississippi and West Virginia, that's like a wealthy person in such locations, it's not like packaging and all that doesn't happened over their but the demands from NYC is too high. Like have you seen the expression of a person that got a job offer from NYC and a person that got job offer from other places. Don't you see how Trump was very interested in the last elections of the NYC mayor, the GDP is the biggest in US.

[Gozie51]

What are this ? Whats wrong with rich people ? Why they hate money?

If you have a salary that can carry your lifestyle then you can do what you want to do. Those kind of houses are for high income earners and not for ordinary people, so don't get surprised about it. Some are houses that people just live for a short time maybe it is closer to their work place. Afterall, there are people who instead of renting a housing apartment, they go ahead to rent suit in hotel that is more expensive by day when calculated for a month and they stay there for a year and more because of the nature of what they are doing there. So all depends on choice, while you have expensive apartment you also have cheap apartment to live in if you can't afford to pay for the higher rent.