- September 1, 2015: Vol. 27, Number 8

To read this full article you need to be subscribed to Institutional Real Estate Americas

Four of world’s priciest office markets are in Asia

by Andrea Waitrovich

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.

The West End’s overall prime occupancy costs of $267 per square foot per year topped the “most expensive” list. Hong Kong (Central) was second, 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.

The study also found the real estate recovery in Ireland remained on track, with Dublin showing the largest year-over-year prime occupancy cost increase — 26.1 percent — among the 127 cities surveyed.

In North America, real estate fundamentals remained strong, with the West Coast markets of downtown Seattle, San

Forgot your username or password?