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10 costliest office locations in the world
Despite the global slowdown, most prime office locations have registered a rise in the rental.
Gateway cities such as London, and New York continue to command high rentals as they remain key locations to do business, according to Cushman & Wakefield's report on 'Office Space Across the World 2013'.
In emerging economies such as India, the burgeoning population growth has led to rising occupancy costs.
"Asia Pacific proved to be vulnerable with the slowdown of its two large growth economies. Still, moderate growth remained sufficient enough to sustain office fundamentals," said Sigrid Zialcita, managing director, Asia Pacific.
The report predicts that rents for prime space will remain stable and edge up in some cities later in the year on the back of the scarcity of quality supply.
Here are the top 10 most expensive location by country.
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10 costliest office locations in the world
West End
Rank 2013: 1
Rank 2012: 2
Occupancy Cost (Euros per sq. m for a year): 2,137
Country: UK
City: London
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10 costliest office locations in the world
Central Business District
Rank 2013: 2
Rank 2012: 1
Occupancy Cost (Euros per sq. m for a year): 1,505
Country: Hong Kong
City: Hong Kong
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10 costliest office locations in the world
Zona Sul
Rank 2013: 3
Rank 2012: 8
Occupancy Cost (Euros per sq. m for a year): 1,343
Country: Brazil
City: Rio de Janeiro
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10 costliest office locations in the world
Connaught Place
Rank 2013: 4
Rank 2012: 5
Occupancy Cost (Euros per sq. m for a year): 1,324
Country: India
City: New Delhi
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10 costliest office locations in the world
Central Business District (5 Central Wards)
Rank 2013: 5
Rank 2012: 3
Occupancy Cost (Euros per sq. m for a year): 1,274
Country: Japan
City: Tokyo
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10 costliest office locations in the world
Central Business District
Rank 2013: 6
Rank 2012: 4
Occupancy Cost (Euros per sq. m for a year): 1,141
Country: Russia
City: Moscow
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10 costliest office locations in the world
Central Business District
Rank 2013: 7
Rank 2012: 6
Occupancy Cost (Euros per sq. m for a year): 1,074
Country: China
City: Beijing
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10 costliest office locations in the world
Midtown (Madison/5th Avenue)
Rank 2013: 8
Rank 2012: 7
Occupancy Cost (Euros per sq. m for a year): 1,052
Country: USA
City: New York
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10 costliest office locations in the world
Central Business District
Rank 2013: 9
Rank 2012: 9
Occupancy Cost (Euros per sq. m for a year): 992
Country: Australia
City: Sydney
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10 costliest office locations in the world
Central Business District
Rank 2013: 10
Rank 2012: 10
Occupancy Cost (Euros per sq. m for a year): 915
Country: France
City: Paris