Hong Kong has again topped the global office real estate rankings compiled by Colliers International.
Hong Kong’s prime office rents, the world’s highest, jumped more than a third in 2010 with tenants paying almost double the cost in the City of London, according to Colliers International Research.
Prime office buildings in Hong Kong fetched $2,066.35 per square meter (11 square feet) as of Dec. 31, 2010, compared with $1,523.31 a year ago, Colliers said in its Global Office Real Estate Review. London’s West End was the second-most expensive, costing $1,431.82 a square meter, while the City of London was fifth at $1,073.92 a square meter. Tokyo and Paris were in third and fourth place, at $1,130.21 and $1,099.53 respectively.
All of the top 20 cities tracked by Colliers recorded higher office rents in the second half. Office construction is highest in the Asia-Pacific region, accounting for 42 percent of global building, driven by growth in demand, particularly in China, India, Indonesia and the Philippines, Colliers said.
Hong Kong (Grade A)
London (West End)
Annual rent:$1,073.92 a square meter
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