More and more expensive in the capital

The most expensive office locations are in Asia. London ranks high too, Warsaw is getting expensive according to CBRE report.

The Prime Office Occupancy Costs report, issued twice yearly by CBRE shows the most expensive office locations, worldwide. First place for the third year in a row, maintains the Central district business in Hong Kong, where the average rental rates reach up to 165 Euro/sqm per year. Second place was taken by the West End in London. If you want to rent an office there, we have to reckon with the cost of approximately 156 Euro/sqm per year. The first five are Asian markets: Beijing financial Street, Jianguomen central business in Beijing and district of Connaught Place,  central business in Delhi.

Warsaw was ranked at 61st place, three positions higher than in the September 2012 ranking. Compared with rates in the world's most expensive locations, the capital is still behind, the cost of the annual rental is € 36,67 sqm.

Warsaw advanced by 3 positions in the ranking of most expensive office location in the world and is now in 61st place, which proves that the prestige of the Polish capital in the global market is growing. The Warsaw is Europe's  major business centre. However, we can not hide that
the capital  has a lot of catching up to do in relation to such powerful cities like London, Paris, Moscow or to the capitals of the largest Asian countries, which occupied the top spots in the ranking
- comments Konrad Heidinger, a Consultant in the consulting and marketing research at CBRE in Poland.

On a global scale, the rental rates increased by 1.4 percent compared to the previous year. The largest increase was recorded in such markets as Jakarta in Indonesia and the areas of Houston, Texas. The prices has gone down in Singapore and Guadalajara in Mexico.

While the pace of global growth in rental cost has fallen vacant,  following the limited supply of the best office space, the key business centers still drives the rental rates to rise. The majority of the world's most expensive office location attracts international companies, which established a regional search for the best offices in prestigious buildings with access to major global and local transit routes – noted Dr. Raymond Torto, Global Economist at CBRE.

As per CBRE, the top 50 most expensive office locations - were 21 markets from Asia and the Pacific,18 of the EMEA region, as well as 11 of both Americas.

Full PDF version version of the report is shown below.   

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Tags: CBRE
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