Hong Kong offices are most expensive in the world
Office space in Hong Kong is more than twice as expensive as prime commercial property in any other global city, according to Knight Frank’s recently released Global Capital Markets Report.
As part of its 2015 outlook for global commercial property, Knight Frank analyzed capital values for prime office properties in 32 cities, which showed that prime Hong Kong office space is valued at $70,000 per square meter (approximately $6,500 per square foot). This is significantly more than second-placed Singapore at $28,340 per square meter ($2,632 per square foot) and more than three times as much as that of the City of London. New York City placed eighth; the Big Apple’s office space is valued at $16,310 per square meter ($1,515 per square foot).
Knight Frank believes that global investment volumes will rise by at least 10