Ten Most Expensive Cities (Office Space)
1. London (West End), England
2. Moscow, Russia
3. Tokyo (Inner Central), Japan
4. Mumbai, India
5. Tokyo (Outer Central), Japan
6. London (City), England
7. New Delhi, India
8. Paris, France
9. Singapore
10. Dubai, United Arab Emirates
The global market for office space remains very spiky. The cost per square foot in London’s West End was a whopping $229.54 per square foot. NYC’s midtown market, ranked 13th, cost less than half that, $103.43 per square foot. Toronto’s central business district, ranked 47th, was a veritable bargain at $62.44; and suburban Los Angeles was 48th at $62.06.
Source: CB Richard Ellis Group, Inc. (CBRE) Research’s semi-annual Global Market Rents survey.
May 30th, 2008 at 10:04 am
It would be interesting to have these number in PPP figures.
May 31st, 2008 at 12:20 am
Most surprising to me on the list of 50 at the Global Market Rents website is #15 Birmingham, England – $100. Why would anyone pay big bucks for office space there? I do my best to avoid the motorway snarl that surrounds Birmingham. It certainly does not feel a creative place to me.