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Saturday, August 8, 2020

C-Suite Lifestyle

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

Hong Kong

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

RankCityCountryOccupancy Costs (US$ / sqft/year)
1Hong Kong CentralHong Kong313
2New York MidtownUS212
3Beijing, Finance StreetChina184
4New York, Midtown SouthUS182
5London West EndUK182
6Tokyo, MarunouchiJapan174
7Silicon ValleyUS162
8Tokyo, ShinjukuJapan150
9Beijing, CBDChina129
10Tokyo, ShinjukuJapan124
11Hong Kong EastHong Kong121
12Shanghai, PudongChina121
13San FranciscoUS118
14SingaporeSingapore117
15Delhi, Connaught PlaceIndia111
16London, CityUK107
17New York, DowntownUS107
18Los Angeles, WestsideUS104
19NagoyaJapan103
20Cambridge (Massachusetts)US103
21ShenzhenChina101
22Shanghai, PuxiChina100
23BostonUS100
24MumbaiIndia99
25OsakaJapan97
26SydneyAustralia95
27MoscowRussia94
28StockholmSweden92
29Dubai, DIFCUAE89
30Washington DCUS88
31AustinUS87
32ZurichSwitzerland86
33Hong Kong, Kowloon EastHong Kong85
34MunichGermany80
35Luxembourg CityLuxembourg79
36BerlinGermany78
37FukuokaJapan78
38Ho Chi Minh CityVietnam78
39Paris, CityFrance78
40GenevaSwitzerland78
41ChicagoUS76
42TaipeiTaiwan75
43DublinIreland75
44London, Canary WharfUK73
45FrankfurtGermany72
46TorontoCanada71
47Sao PauloBrazil70
48Los Angeles, CBDUS69
49MilanItaly69
50MadridSpain69
51VancouverCanada67
52GuangzhouChina67
53OsloNorway66
54SeoulSouth Korea65
55JakartaIndonesia60
56EdinburghUK59
57SeattleUS59
58BirminghamUK58
59BarcelonaSpain57
60AtlantaUS56
61BengaluruIndia55
62DallasUS54
63AmsterdamNetherlands54
64PhiladelphiaUS54
65ManchesterUK54
66ManilaPhilippines54
67Mexico CityMexico53
68Delhi, GurgaonIndia53
69GlasgowUK53
70DenverUS51
71RiyadhSaudi Arabia51
72HoustonUS50
73LeedsUK49
74MelbourneAustralia49
75MontrealCanada49
76HelsinkiFinland46
77BangkokThailand46
78Paris, La DefenseFrance45
79BrusselsBelgium45
80BristolUK45
81AucklandNew Zealand40
82WarsawPoland40
83IstanbulTurkey39
84ChengduChina39
85Kuala LumpurMalaysia30
86JohannesburgSouth Africa18

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Dr. Amarendra Bhushan Dhiraj
CEO and editorial director of the CEOWORLD magazine, an extensively kudized author, noted journalist, syndicated columnist, and ostensible entrepreneur. Follow him on Twitter, Facebook or connect on LinkedIn.