London has managed to maintain its leading position in the global commercial real estate markets. To rent a first-class office in the West End, companies have to pay €2,186 per sq.m annually, according to ee24.com citing Global Prime Office Occupancy Costs. Commercial real estate in Britain is becoming more expensive due to the strengthening of the country economy: in the last year the rents in the West End have increased by 13.5%.
Asian megacities are dominating in the list of ten cities with the most expensive office rental. American cities are not represented: New York is only 11th.
| 1 |
London (The West End) |
€2,186 per sq.m a year |
| 2 |
Hong Kong (Centre) |
€1,909 per sq.m a year |
| 3 |
Beijing (Financial Street) |
€1,531 per sq.m a year |
| 4 |
Beijing (CBD) |
€1,476 per sq.m a year |
| 5 |
Moscow |
€1,302 per sq.m a year |
| 6 |
Hong Kong (West Kowloon) |
€1,269 per sq.m a year |
| 7 |
London (The City) |
€1,213 per sq.m a year |
| 8 |
New Delhi |
€1,212 per sq.m a year |
| 9 |
Tokyo |
€1,150 per sq.m a year |
| 10 |
Paris |
€981 per sq.m a year |
Centre of Hong Kong is the next after the West End, with the average rents of €1,909 per sq.m. Financial Street and CBD of Beijing are #3 and #4. Moscow is the 5th, West Kowloon in Hong Kong is the 6th, the City of London is the 7th. New Delhi, Tokyo and Paris round out the top ten.