Home » Business » Real Estate
London’s West End tops
THE average office cost in US dollar around the globe fell nearly 4 percent in 2014, with London’s West End remaining the most expensive office location, global real estate service provider DTZ said yesterday.
A sharp depreciation of local currencies against the US dollar, slower economic growth in Europe, as well as significant new supply in emerging markets jointly eroded costs across many global markets, according to its annual report.
The report tracks workstation costs — mainly rent, maintenance and property tax — in 138 cities across 60 countries and regions. When measured in local currencies, the average workstation costs rose 1.8 percent from a year earlier.
London kept its top spot worldwide with an average office cost of US$29,340 per workstation per annum, nearly a third more expensive than second-placed New York. Hong Kong ranked third globally at US$21,110.
The Asia-Pacific suffered the fastest fall in US dollar occupancy costs among regions with an 8.3 percent annual drop. Europe saw an average drop of 7.8 percent. Occupancy costs in North America rose 4.8 percent, the report said.
In China, Hong Kong is the most costly office market, followed by Beijing at US$11,680 and Shanghai at US$9,050.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.