Research - MARCH 20, 2017

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Hong Kong named most expensive office market

by Andrea Waitrovich

Hong Kong is the world’s highest-priced office market, according to CBRE’s new Global Prime Office Rents survey.

European markets showed the most consistent growth in prime office rent, mostly due to a lack of supply. Northern Ireland’s Belfast (up 25 percent year-over-year) led the way among the 121 cities surveyed.

Hong Kong had two of the top three most expensive office submarkets. Hong Kong’s Central held the top spot, with prime office rent of $264 per square foot per year, and Hong Kong’s West Kowloon was third, with rents of $163 per square foot.

Rounding out the top five were two mainland Chinese markets — Beijing’s Finance Street at No. 2 ($179 per square foot) and Beijing CBD at No. 4 ($156 per square foot) — and London’s West End at $146 per square foot. The most expensive market in North America was Midtown Manhattan, No. 6 on the global list, with a prime office rent of $144 per square foot.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy