London Skyscraper Rents Rise 11%, Hong Kong Remains Priciest
The Shard skyscraper stands on the city skyline seen from the 47th floor of the Leadenhall Building, also known as the Cheesegrater, in the financial district of London, U.K., on Sept. 3, 2014.
Photographer: Simon Dawson/BloombergOffice rents on the highest floors of skyscrapers in London climbed about 11 percent in the six months through June, while Hong Kong remains the most expensive place in the world to lease such space.
London annual rents rose to $122 a square foot, the biggest increase in the period, according to a 20-city index compiled by broker Knight Frank LLP. The U.K. capital is now the third most-expensive place to rent skyscraper space, level with Tokyo. Offices near the top of Hong Kong skyscrapers cost $255.50 a square foot, about 67 percent more than in second-placed New York.