London Skyscraper Rents Jump as Vacancies Fall to 15-Year Low

Office rents in London’s skyscrapers rose almost 10 percent in the second half of last year as city-center vacancies fell to a 15-year low, according to an index compiled by broker Knight Frank LLP, and are set to continue climbing.

Annual skyscraper rents in the U.K. capital surged to $126 per square foot because of rising demand for prime office space amid a supply shortage, the 21-city index showed. That was the biggest increase in the index and follows a similar gain in the first half. Hong Kong, the most expensive location, gained 3 percent to about $263.