Six of the top 10 most expensive office markets worldwide are in the Asia Pacific, according to CBRE.
CBRE’s Prime Office Occupancy Costs Survey finds Hong Kong is the most expensive market at US $2678.38 per sqm. Tokyo is third most expensive, and Beijing’s Jianguomen in the CBD is fourth.
Beijing-Finance Street is number six, Hong Kong-West Kowloon is seventh and New Delhi-Connaught Place is ninth.
Sydney at 15th is the most expensive Pacific market, at US $1268.84 per sqm. Followed by Perth at 24th.
Of the top 50 ‘most expensive’ markets 19 are in Asia-Pacific, 19 are in EMEA and 12 in the Americas.
Beijing’s Jianguomen recorded the strongest growth in occupancy costs over the past year, with an increase of 49.4 percent.
Top ten most expensive markets as of March 31, 2012
| Rank |
Market |
Occupancy cost |
| 1 |
Hong Kong (Central) |
US $2678.38 per sqm |
| 2 |
London (Central - West End) |
US $2369.67 per sqm |
| 3 |
Tokyo |
US $2007.36 per sqm |
| 4 |
Beijing (Jianguomen - CBD) |
US $1945.68 per sqm |
| 5 |
Moscow |
US $1846.33 per sqm |
| 6 |
Beijing (Finance Street) |
US $1796.38 per sqm |
| 7 |
Hong Kong (Kowloon) |
US $1708.44 per sqm |
| 8 |
Sao Paulo |
US $1558.07 per sqm |
| 9 |
New Delhi |
US $1509.20 per sqm |
| 10 |
London (Central - City) |
US $1415.56 per sqm |
Source: CBRE
Largest annual increases - occupancy costs - Top 5 as of March 31, 2012
| Rank |
Market |
Percent change
in local currency and measure
|
| 1 |
Beijing (Jianguomen – CBD) |
49.4 percent |
| 2 |
Beijing (Finance Street) |
42.0 percent |
| 3 |
Guangzhou |
40.4 percent |
| 4 |
San Francisco (Downtown) |
34.0 percent |
| 5 |
San Francisco (Peninsula) |
32.7 percent |
Source: CBRE
Largest annual decreases - occupancy costs - Top 5 as of March 31, 2012
| Rank |
Market |
Percent change
in local currency and measure |
| 1 |
Hong Kong (Central) |
-17.2 percent |
| 2 |
Abu Dhabi |
-16.7 percent |
| 3 |
Thessaloniki |
-16.3 percent |
| 4 |
Dublin |
-13.6 percent |
| 5 |
Athens |
-13.5 percent |
Source: CBRE
