>hugely-overpriced city

If you compare the rental flats with other top European cities, it’s really not overpriced.

Look at a 6k eur pcm flat in Barcelona and London, in Barcelona you will find slightly bigger flats with terrible build quality and services. In London you’ll get top quality fit and finish with excellent services.

Good luck finding a building with a decent concierge team in most European capitals. It’s almost unheard of.

Luxury product for rich people? Yeah, of course. Overpriced? Definitely not, there simply aren’t any viable alternatives to settle in.

See my previous blog post on this subject: https://news.ycombinator.com/item?id=26926718

Really? Sure it doesn't have to do with the bank backing it? My Amex card has the second lowest limit of all my credit cards at a measly $6,500 whereas I have other cards with $30,000, $25,000, and $20,000 limits. Only one lower is my target card but they are known for having low limits.

I have a UK perspective. Here, to get a VISA-backed bank to grant you more than 6-8k is a real struggle, whereas Amex will happily start at 10-12k and grow from there.