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DTZ: London tops HK for world's most expensive office location
By Cherry Cao |
18:22 UTC+8 January 28, 2013
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Online Edition
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HONG Kong lost its top spot as the most expensive office location in the world to London (West End) last year mainly due to rental declines in Central, according to an industry report released today by a global real estate services provider.
Beijing and Shanghai, however, advanced further in the global ranking, an annual Global Occupancy Costs Office report by DTZ, which is now a UGL company, showed.
The average occupancy costs per workstation per annum in Hong Kong fell 12 percent year on year to US$22,190, while London experienced no change at US$23,500 in 2012, said the report, which tracked occupancy costs -- mainly rent, maintenance and property tax costs - across 126 business districts in 49 countries.
Beijing remained the most expensive office location on Chinese mainland with the average occupancy cost per workstation per annum standing at US$10,410. It ranked No.28 in the report, up from No.35 previously.
Shanghai climbed from No. 37 to No.30 with the occupancy cost of a workstation per annum at US$10,130.
Guangzhou, Shenyang and Shenzhen were also among the most expensive office locations on Chinese mainland, according to the DTZ report.
Beijing and Shanghai, however, advanced further in the global ranking, an annual Global Occupancy Costs Office report by DTZ, which is now a UGL company, showed.
The average occupancy costs per workstation per annum in Hong Kong fell 12 percent year on year to US$22,190, while London experienced no change at US$23,500 in 2012, said the report, which tracked occupancy costs -- mainly rent, maintenance and property tax costs - across 126 business districts in 49 countries.
Beijing remained the most expensive office location on Chinese mainland with the average occupancy cost per workstation per annum standing at US$10,410. It ranked No.28 in the report, up from No.35 previously.
Shanghai climbed from No. 37 to No.30 with the occupancy cost of a workstation per annum at US$10,130.
Guangzhou, Shenyang and Shenzhen were also among the most expensive office locations on Chinese mainland, according to the DTZ report.
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