Four of world’s top five most expensive office markets are in Asia
London’s West End continued to be the world’s highest-priced office market, but Asia dominated the world’s most expensive office locations, accounting for four of the top five markets, according to CBRE Research’s semi-annual Global Prime Office Occupancy Costs survey.
London West End’s overall prime occupancy costs of $267 per square foot per year topped the “most expensive” list. Hong Kong (Central) followed with total prime occupancy costs of $254 per square foot, followed by Beijing (Finance Street) at $196 per square foot, Beijing CBD at $188 per square foot, and New Delhi (Connaught Place - CBD) at $157 per square foot.
Asia Pacific had 20 markets ranked in the top 50 most expensive, including six of the top 10 — Central Hong Kong, Beijing (Finance Street), CBD Beijing, New Delhi (Connaught Place - CBD), Hong Kong (West Kowloon) and Tokyo (Marunouchi Otemachi).
The study also found that th