London continues to be the world’s highest-priced office market
London’s West End was the world’s highest-priced office market for the second straight year and Hong Kong Central, Beijing Finance Street, Beijing Central Business District and Hong Kong West Kowloon, took four of the top five most expensive spots in the rankings, according to CBRE Research’s semi-annual Global Prime Office Occupancy Costs survey.
London’s West End topped the “most expensive” list, with overall prime occupancy costs of $273 per square foot per year. Hong Kong (Central) ranked second, with prime occupancy costs of $269 per square foot, followed by Beijing (Finance Street), at $191 per square foot, Beijing (Central Business District), at $183 per square foot, and Hong Kong (West Kowloon), at $162 per square foot..
In the Americas, prime occupancy costs increased by 3.1 percent year-over-year due to office-using employment growth stimulating demand for commercial real estate nationwide, including in so