China nabs 5 spots on the World’s Top 10 most expensive office space list

CCTV News

PHOTO: CFP PHOTO: CFP

Hong Kong, Beijing, and Shanghai ranked high on the world’s top 10 most expensive office rent list over the past quarter, according to the semi-annual Global Price Office Occupancy Costs Survey issued by CBRE, a global commercial real estate and investment services firm.

Within the latest rankings, Hong Kong Central, Beijing Finance Street, Beijing Central Business District, and Hong Kong West Kowloon take four of top 5 most expensive office markets, while London Central West End remains at the pinnacle of the rankings with $272.56 per square foot per year.

East China’s Shanghai Pudong rose two places to ninth on the list.

Midtown Manhattan in New York City rounds out the ranking with a cost $127 per square foot.

According the survey, prime occupancy costs reflect rent, local taxes and services charges, which is set to increase at a 2.4 percent annual pace globally as the world economy gradually improves.

Story by CCTV News