London remains the most expensive city in the world to occupy office space, the latest twice-yearly Global Industrial and Office Rents Survey from international property consultancy King Sturge show. Costs in London’s West End are now running at EUR 2,166.78/m[sup]2[/sup] per annum (£1,400/ft²/annum) while those in the City of London amount to about EUR 1,346.50/m[sup]2[/sup] per annum. Elsewhere in Europe, Moscow, Paris and Dublin are among the ten most costly locations. Generally speaking, King Sturge said global office markets have performed well, with 67% of occupiers reporting an increase in occupation costs in the second half of 2007. Europe saw a 5.3% increase while in the dynamic office market in the Asia Pacific region the figure rose 12.8%.
London remains the most expensive city in the world to occupy office space, the latest twice-yearly Global Industrial and Office Rents Survey from international property consultancy King Sturge show. Costs in London’s West End are now running at EUR 2,166.78/m2 per annum (£1,400/ft²/annum) while those in the City of London amount to about EUR 1,346.50/m2 per annum. Elsewhere in Europe, Moscow, Paris and Dublin are among the ten most costly locations. Generally speaking, King Sturge said global office markets have performed well, with 67% of occupiers reporting an increase in occupation costs in the second half of 2007. Europe saw a 5.3% increase while in the dynamic office market in the Asia Pacific region the figure rose 12.8%.
London Heathrow also topped the list of the highest occupation costs for industrial property. Oslo, Dublin and a number of UK regional cities were other cities with the highest costs for industrial property. King Sturge noted global demand for industrial property was robust over the six months of the survey, with 47% of locations surveyed reporting stable occupation costs and 40% rising costs. The highest increase, or 7.5%, was seen in the Asia Pacific region, while Europe had the lowest rise, at 1.4%.
