Hong Kong remains the most expensive place in the world to rent a luxury apartment, according to new data from ECA International, a global consulting firm that releases the figures for companies sending employees to work abroad.

An average unfurnished, high-end three-bedroom apartment in a popular part of Hong Kong costs an average of $11,440 per month. New York City ranked fourth on the list, with the average rent for a similar apartment costing $9,200 per month.

Rents for such apartments in Hong Kong have actually fallen slightly; in 2013 the average was $11,549, and in 2012 it was $11,813.

"With a high population density and a consistently limited supply of property, average rents in the territory have long been significantly more expensive than other high-profile cities," ECA International wrote in a release.

Rents rose the most year-over-year in Caracas, Dubai, Sao Paulo, Nairobi, and Jakarta, while they fell the most in Dakar, Barcelona, Gaborone, Madrid, and Ho Chi Minh City, respectively.

The table below shows the 20 most expensive places to rent a luxury apartment. (Source: ECA International's Accommodation Survey 2013/14 - unfurnished three-bed high-end apartment.)

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