These Are The World’s Most Expensive Premium Office Rental Markets, 2020

Prof. Dr. Amarendra Bhushan DhirajLifestyle and TravelFebruary 17, 2020February 19, 2020

Premium office occupancy costs in “Hong Kong Central District” have been ranked as the world’s priciest, according to global real estate consultancy JLL. In Downtown New York, the rental for such office space averages US$107 per sq ft, about a third of that in Hong Kong’s Central district at US$313 per sq ft.

The rental in Hong Kong’s central business district is about 68 percent more expensive than in New York’s Midtown, which came in second in the global ranking of 86 major office markets in 73 cities. Occupancy cost comprises the key elements of occupancy costs – net effective rent, service charges and government tax on rent – all standardized to enable true international comparisons.

Where are the most expensive office markets in the world and which cities offer affordable alternatives?

Most expensive premium office rental markets in the world, 2020

Rank	City	Country	Occupancy Costs (US$ / sqft/year)
1	Hong Kong Central	Hong Kong	313
2	New York Midtown	US	212
3	Beijing, Finance Street	China	184
4	New York, Midtown South	US	182
5	London West End	UK	182
6	Tokyo, Marunouchi	Japan	174
7	Silicon Valley	US	162
8	Tokyo, Shinjuku	Japan	150
9	Beijing, CBD	China	129
10	Tokyo, Shinjuku	Japan	124
11	Hong Kong East	Hong Kong	121
12	Shanghai, Pudong	China	121
13	San Francisco	US	118
14	Singapore	Singapore	117
15	Delhi, Connaught Place	India	111
16	London, City	UK	107
17	New York, Downtown	US	107
18	Los Angeles, Westside	US	104
19	Nagoya	Japan	103
20	Cambridge (Massachusetts)	US	103
21	Shenzhen	China	101
22	Shanghai, Puxi	China	100
23	Boston	US	100
24	Mumbai	India	99
25	Osaka	Japan	97
26	Sydney	Australia	95
27	Moscow	Russia	94
28	Stockholm	Sweden	92
29	Dubai, DIFC	UAE	89
30	Washington DC	US	88
31	Austin	US	87
32	Zurich	Switzerland	86
33	Hong Kong, Kowloon East	Hong Kong	85
34	Munich	Germany	80
35	Luxembourg City	Luxembourg	79
36	Berlin	Germany	78
37	Fukuoka	Japan	78
38	Ho Chi Minh City	Vietnam	78
39	Paris, City	France	78
40	Geneva	Switzerland	78
41	Chicago	US	76
42	Taipei	Taiwan	75
43	Dublin	Ireland	75
44	London, Canary Wharf	UK	73
45	Frankfurt	Germany	72
46	Toronto	Canada	71
47	Sao Paulo	Brazil	70
48	Los Angeles, CBD	US	69
49	Milan	Italy	69
50	Madrid	Spain	69
51	Vancouver	Canada	67
52	Guangzhou	China	67
53	Oslo	Norway	66
54	Seoul	South Korea	65
55	Jakarta	Indonesia	60
56	Edinburgh	UK	59
57	Seattle	US	59
58	Birmingham	UK	58
59	Barcelona	Spain	57
60	Atlanta	US	56
61	Bengaluru	India	55
62	Dallas	US	54
63	Amsterdam	Netherlands	54
64	Philadelphia	US	54
65	Manchester	UK	54
66	Manila	Philippines	54
67	Mexico City	Mexico	53
68	Delhi, Gurgaon	India	53
69	Glasgow	UK	53
70	Denver	US	51
71	Riyadh	Saudi Arabia	51
72	Houston	US	50
73	Leeds	UK	49
74	Melbourne	Australia	49
75	Montreal	Canada	49
76	Helsinki	Finland	46
77	Bangkok	Thailand	46
78	Paris, La Defense	France	45
79	Brussels	Belgium	45
80	Bristol	UK	45
81	Auckland	New Zealand	40
82	Warsaw	Poland	40
83	Istanbul	Turkey	39
84	Chengdu	China	39
85	Kuala Lumpur	Malaysia	30
86	Johannesburg	South Africa	18

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Prof. Dr. Amarendra Bhushan Dhiraj

Prof. Dr. Amarendra Bhushan Dhiraj is a media and technology executive, macro-economist, strategic thinker, chair, and chief executive officer of the CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Under Dr. Amarendra's leadership, CEOWORLD magazine has become the world's most iconic news organization, whose rigorous reporting and unsurpassed storytelling connect with millions of business leaders daily. Additionally, he serves as the chair and founding member of the CEOWORLD magazine’s Inclusion Advisory Board.

In his current role, he counsels and collaborates with c-suite executives of large multinational corporations, helping them drive change in their companies to improve their competitiveness. Dr. Amarendra has extensive experience in serving on numerous boards. He leads and supports a globally dispersed team of columnists, correspondents, editors, journalists, reporters, researchers, and industry analysts.

He received his Ph.D. in Finance and Banking from the European Global School, Paris, France. He also received his Doctoral Degree in Chartered Accountancy from the European International University Paris, France, and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine. He earned his Master of Business Administration degree in Finance and his master’s degree in Chartered Accountancy (CA) from European Global School Paris. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States.

As CEO, he transformed the CEOWORLD magazine into a highly efficient, digital-first, profitable enterprise. Today, CEOWORLD magazine is a standard bearer for modern responsible journalism. Dr. Amarendra retains a strong desire to continuously improve his skills and abilities and believes that the first step to being a true leader is to inspire others to lead with you.

Prof. Dr. Amarendra Bhushan Dhiraj is the CHAIR, CEO, AND EDITORIAL DIRECTOR of the CEOWORLD magazine. Connect with him through LinkedIn.

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