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June 26, 2019

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Central tops for expensive office areas

Four of the world’s 10 most expensive office markets are in China with Hong Kong’s Central district retaining the top spot for prime office rents for the fourth consecutive year, global real estate services provider CBRE said in a report released yesterday.

Despite recent evidence of moderating prices, Hong Kong’s Central district maintained its top ranking with prime office rents standing at US$3,466 per square meter per year in the 12 months to March 31. It was closely followed by London’s West End (US$2,397) and Hong Kong’s Kowloon district (US$2,246), according to CBRE, which tracks 122 markets in its annual Global Prime Office Occupancy Costs report.

Beijing’s Finance Street (US$2,021) came in fifth and Beijing’s Central Business District (US$1,906) in sixth. Shanghai’s Pudong and Puxi ranked 12th and 16th at US$1,383 and US$1,177, respectively.


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