London's West End tops global office rent league
London's West End has easily retained its position as the world's most expensive office market. According to research compiled by CB Richard Ellis, the world's largest property services firm, annual Ho Chi Minh City office rents rocketed by 94 percent to $85.84 per square foot.
But at $299.54 per square foot, rents in London's West End once again eclipsed those in Moscow and other international business hubs. Rents in the supply-starved market are 82 percent higher than London's City office market and nearly three times the rents in the Midtown Manhattan office market in New York, which is the Americas' most costly market.
Tokyo's Inner Central Five Wards, Mumbai's Nariman Point and Tokyo's Outer Central Five Wards were named the world's third, fourth and fifth most expensive markets, respectively.
Singapore and Dubai were newcomers to the top 10. Singapore ranked ninth, with an occupancy cost of $139.31 per square foot, while Dubai was number 10, with an occupancy cost of $128.49 per square foot. ( info from: forbes.com )
Posted at 01:33 am by londonblog