Hong Kong’s Central Is World’s Priciest Office Location

The following table shows a summary of the top 50 most expensive office markets taken from CBRE Global Research and Consulting’s Prime Office Occupancy Costs survey.

The survey, conducted twice yearly, compares office occupation costs for prime office space in 133 cities worldwide as of March 31, 2012.

=========================================================
                                                 US$ per*
Rank City                                        Sq. Foot
=========================================================
1    Hong Kong (Central), Hong Kong              $248.83 
2    London - Central (West End), United Kingdom $220.15 
3    Tokyo, Japan                                $186.49 
4    Beijing (Jianguomen - CBD), China           $180.76 
5    Moscow, Russian Federation                  $171.53 
6    Beijing (Finance Street), China             $166.89 
7    Hong Kong (Kowloon), Hong Kong              $158.72 
=========================================================
                                                 US$ per*
Rank City                                        Sq. Foot
=========================================================
8    São Paulo, Brazil                           $144.75 
9    New Delhi (Connaught Place - CBD), India    $140.21 
10   London - Central (City), United Kingdom     $131.51 
11   Shanghai (Puxi), China                      $130.78 
12   Rio de Janeiro, Brazil                      $128.02 
13   Mumbai (Bandra Kurla Complex), India        $126.88 
14   Paris Ile-de-France, France                 $123.82 
15   Sydney, Australia                           $117.88 
16   Singapore, Singapore                        $117.39 
17   Shanghai (Pudong), China                    $116.35 
18   New York (Midtown Manhattan ), U.S.         $114.30 
19   Geneva, Switzerland                         $ 99.18 
20   Mumbai (Nariman Point - CBD), India         $ 97.32 
21   Zurich, Switzerland                         $ 96.61 
22   Caracas, Venezuela                          $ 95.68 
23   Washington DC (Downtown), U.S.              $ 94.51 
24   Perth, Australia                            $ 93.63 
=========================================================
                                                 US$ per*
Rank City                                        Sq. Foot
=========================================================
25   Dubai, United Arab Emirates                 $ 92.56 
26   Seoul (CBD), South Korea                    $ 90.70 
27   Boston (Downtown), U.S.                     $ 87.50 
28   Guangzhou, China                            $ 86.55 
29   Istanbul, Turkey                            $ 82.78 
30   Luxembourg City, Luxembourg                 $ 80.65 
31   Brisbane, Australia                         $ 77.85 
32   Los Angeles (Suburban), U.S.                $ 77.41 
33   Milan, Italy                                $ 76.80 
34   Stockholm, Sweden                           $ 75.44 
35   Seoul (Yeouido), South Korea                $ 73.49 
36   Manchester, United Kingdom                  $ 71.91 
37   San Francisco (Downtown), U.S.              $ 71.40 
38   Toronto (Downtown), Canada                  $ 71.16 
39   Edinburgh, United Kingdom                   $ 70.31 
40   Aberdeen, United Kingdom                    $ 70.31 
41   New York (Downtown Manhattan), U.S.         $ 69.85 
=========================================================
                                                 US$ per*
Rank City                                        Sq. Foot
=========================================================
42   Birmingham, United Kingdom                  $ 69.64 
43   Frankfurt am Main, Germany                  $ 68.63 
44   Taipei, Taiwan                              $ 68.11 
45   Bristol, United Kingdom                     $ 65.62 
46   Calgary (Downtown), Canada                  $ 65.36 
47   Oslo, Norway                                $ 65.15 
48   Glasgow, United Kingdom                     $ 64.72 
49   Vancouver (Downtown), Canada                $ 63.73 
50   Ho Chi Minh City, Vietnam                   $ 63.34 
=========================================================

Note 1: (*) Annual cost. Note 2: Occupancy cost represents rent, plus local taxes, and service charges.

Source: CBRE Global Research and Consulting

To contact the reporter on this story: Ailing Tan in Singapore at atan193@bloomberg.net

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net

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