These are the world’s 10 most expensive office markets

Hong Kong came out on top with the priciest office rents in the world

New York Weekend Edition /
Sep.September 23, 2017 04:49 PM

A survey of international office rental markets by CBRE found that Asian office markets dominated in rent prices; Manhattan was the only North American market to make the list – though the New York’s borough took up double its size by making it into the top 10 twice.

The survey noted that cities with IT and media hubs had the strongest growth in prime rents, largely thanks to co-working spaces. CBRE also highlighted that, while Asian markets were high, other markets had more steady growth.

Here are the top 10 most expensive places to set up shop:

1
Hong Kong (Central), Hong Kong
Annual rent of $269.26 per square foot

2
Beijing (Finance Street), China
Annual rent of $174.07 per square foot

3
Hong Kong (West Kowloon), Hong Kong
Annual rent of $163.57 per square foot

4
New York (Midtown Manhattan), U.S.
Annual rent of $153.50 per square foot

5
Beijing (CBD), China
Annual rent of $151.87 per square foot

6
London (West End), United Kingdom
Annual rent of $136.38 per square foot

7
Tokyo (Marunouchi/Otemachi), Japan
Annual rent of $132.09 per square foot

8
Shanghai (Pudong), China
Annual rent of $120.11 per square foot

9
New York (Midtown-South Manhattan), U.S.
Annual rent of $113.53 per square foot

10
New Delhi (Connaught Place – CBD), India
Annual rent of $110.85 per square foot

[CBRE] — E.K. Hudson


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