Hong Kong Is the Most Expensive Place to Rent an Office

by CFO Innovation Asia Staff, 24 July 2012

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Hong Kong's Central business district is now the world's most expensive place to rent an office. According to CBRE Global Research and Consulting’s Semi-Annual Prime Office Occupancy Costs Survey, leases for prime space in Central is the world's priciest, at US$249 per sq ft per year.

That is lower by 17% from last year, but still higher than the second-placer in the top ten list, the West End in central London, where prime office rents average US$220.15 per sq ft annually.

“Central rents have fallen considerably from peak levels but far from diminishing the city’s status as Asia’s financial hub, this makes Hong Kong more competitive and relatively more attractive for international tenants,” says Rhodri James, Executive Director of Office Services for CBRE.

Among the world’s top ten expensive office rental markets, six can be found in the Asia Pacific, including two districts in Hong Kong and two in Beijing, as well as parts of Tokyo and New Delhi.

The region also leads in rent increases, averaging 7.8% a year compared with the worldwide average of 3.6%. Beijing’s Jianguomen district (49.4%) and Finance Street (42.0%) log the highest rent increases.

The Top Ten Most Expensive Office Rental Markets

(in US$ per sq ft per year)

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CFO Innovation Asia Staff

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You really need to be

Submitted by james king on 28 March 2013 - 9:10am

You really need to be prepared so much when are pricing rent in Hong Kong. There is definitely limited space so this is why it is so high. Bring out your check book for this. la faillite

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