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Rental fall knocks HK off top of list
By Cao Qian |
00:58 UTC+8 January 29, 2013
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Print Edition
Print Edition
HONG Kong lost its top spot as the most expensive office location in the world to London (West End) last year due to a drop in rents in its Central district, according to a latest industry report released yesterday.
Beijing and Shanghai, however, rose further in the global rankings, according to the annual Global Occupancy Costs - Office report by DTZ.
Hong Kong suffered an annual 12-percent drop in average occupancy costs per workstation per annum to US$22,190, while London was flat at US$23,500 last year, said the report.
Beijing remained the most expensive office location in Chinese mainland with the average occupancy costs per workstation per annum at US$10,410, landing it in the 28th spot, up from 35th position in the previous ranking.
Shanghai climbed to No. 30 from its previous 37th spot with occupancy costs of a workstation per annum at US$10,130.
The report tracks costs such as rents, maintenance and property tax across 126 business districts in 49 countries.
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