Hong Kong Is Most Expensive Office Market: ChartBy
Hong Kong isn’t just the world’s most unaffordable housing market; it can also claim bragging rights as the costliest city in the world to rent an office, according to Jones Lang LaSalle Inc.’s first Premium Office Rent Tracker. The city’s record leases are a function of low vacancy and high demand for grade-A1 buildings in the Central business district, according to Alex Barnes, head of Hong Kong markets at the real estate-services firm. With sustained demand from mainland Chinese companies, Jones Lang LaSalle expects rents for the highest-quality offices in Central will grow 5 percent to 10 percent this year.
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