London is most expensive office location
West End tops occupancy cost league but Hong Kong shoots into top three
London’s West End remains the most expensive office location in the annual
league table on global office occupancy costs, but Hong Kong has now leapt into
the top three.
The cost of occupancy in London West End was $18,740 per workstation
according to the latest figures from property consultant DTZ. The comapny also
revelaed that Hong Kong had climbed 13 places up the table, with occupancy costs
at $15,000 (£8,550) per workstation in 2005, a leap of 61%.
Its hike to third place has been driven by increased business sentiment,
especially among investment banks, that has led to takeup of more expensive
offices, according to DTZ.
Dubai’s occupancy cost rose steeply, by 50% to $7,180. Washington DC came
second in the table, while Paris was ranked fourth.