Hong Kong retained its status as the most expensive office location globally, in terms of cost per square foot per year, according to Colliers International's "Global Office Real Estate Review" for the first half of 2010.
The report reveals that London's West End is the second most expensive office location globally, followed by Tokyo.
In Hong Kong, a Class A Central Business District (CBD) office space has an occupancy cost of US$161.42 per square foot per year as of June 2010. A prime office space in London costs US$129.58 per square foot, while in Japan, the cost is US$100.76.
Hong Kong and Japan are the only Asian countries in the top 10 most expensive office locations. Trailing them are Mumbai (12th at US$59.64 per square foot per year), Delhi (13th at uS$58.60), and Singapore (15th at US$58.08).
According to Collier, the demand for office space is slowly returning, which leads to an increase in office property prices.
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