Hong Kong has retained its position as the world’s most expensive city to rent high-rise office space, according to Knight Frank’s latest Skyscraper report.
The report highlights the average rent, in US$ per square foot, per year. The following chart shows the top 10 cities for prime rent prices.
Following Hong Kong in second place is New York City, over $100 behind, with an average rent of $153 per square foot, per year. The top three is completed by Tokyo, with $125.
However, in the last six months London (in fourth place for overall price) has experienced the highest growth – nearly 11% between December 2014 and June 2015. There haven’t been so few vacancies in 14 years. San Francisco, in fifth, has also experienced high growth – in excess of 8%. The city is continuing to benefit from its expanding technology sector.
To keep up with the Agenda subscribe to our weekly newsletter.
Author: Joe Myers is a Digital Content Producer at Formative Content.
Image: A rainbow arches over Hong Kong’s Victoria Harbour June 19, 2012. REUTERS/Bobby Yip