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World's 25 most expensive office spaces include two from India

December 26, 2013 13:39 IST

World's 25 most expensive office spaces include two from India

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As the global economy shows sign of recovery, occupancy costs for prime office space have continued to increase over the past year. The Americas saw highest year-over-year growth rate, at 4.6 per cent, followed by Asia Pacific, at 3.2 per cent, and Europe, Middle East and Africa at 0.4 per cent.

Let's take a look at some of the most expensive prime office occupancy rates around the world, including India, according to CBRE, the largest commercial real estate services firm in the world.

Source: CBRE

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Image: Let's take a look at some of the most expensive prime office occupancy rates around the world.
Photographs: Wolfgang Rattay/Reuters

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West End

City: London

Country: United Kingdom

Annual rent: $259.36 per sq ft

Overall rank: 1

Annual rent of an office space in London's West End is $259.36 per square foot.

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Image: Visitors walk past a maze which has been set up in Trafalgar Square to promote London's West End shopping and entertainment district.
Photographs: Andrew Winning/Reuters

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Central district

City: Hong Kong

Country: Hong Kong

Annual rent: $234.30 per sq ft

Overall rank: 2

Annual rent of an office space in Hong Kong's Central district is $234.30 per square foot.

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Image: A tram passes a giant Louis Vuitton steamer trunk wrapping the exterior of a shopping mall at Hong Kong's Central Business District.
Photographs: Kin Cheung/Reuters

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Finance Street

City: Beijing

Country: China

Annual rent: $197.05 per sq ft

Overall rank: 3

Annual rent of an office space in Beijing's Finance Street is $197.05 per square foot.

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Image: A woman plays with her child next to a statue of ancient Chinese coins at Beijing's Finance Street.
Photographs: Jason Lee/Reuters

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Central Business District

City: Beijing

Country: China

Annual rent: $189.67 per sq ft

Overall rank: 4

Annual rent of an office space in Beijing's Central Business District is $189.67 per square foot.

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Image: A view of Beijing's Central Business District.
Photographs: Jason Lee/Reuters

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West Kowloon

City: Hong Kong

Country: Hong Kong

Annual rent: $170.42 per sq ft

Overall rank: 5

Annual rent of an office space in Hong Kong's West Kowloon is $170.42 per square foot.

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Image: A woman walks up the stairs as luxurious high rise residential buildings are seen at Hong Kong's West Kowloon district.
Photographs: Bobby Yip/Reuters

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Moscow

City: Moscow

Country: Russia

Annual rent: $165.05 per sq ft

Overall rank: 6

Annual rent of an office space in Moscow is $165.05 per square foot.

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Image: Women compete in a race in high heels in central Moscow.
Photographs: Maxim Shemetov/Reuters

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Connaught Place

City: New Delhi

Country: India

Annual rent: $156.65 per sq ft

Overall rank: 7

Annual rent of an office space in New Delhi's Connaught Place is $156.65 per square foot.

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Image: Pigeons fly as clouds gather over New Delhi's Connaught Place.
Photographs: Buddhika Weerasinghe/Reuters

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Marunouchi Otemachi

City: Tokyo

Country: Japan

Annual rent: $154.67 per sq ft

Overall rank: 8

Annual rent of an office space in Tokyo's Marunouchi Otemachi is $154.67 per square foot.

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Image: Office workers walk under a decorated illumination in Tokyo's Marunouchi business district.
Photographs: Toru Hanai/Reuters

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City district

City: London

Country: United Kingdom

Annual rent: $142.71 per sq ft

Overall rank: 9

Annual rent of an office space in London's City district is $142.71 per square foot.

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Image: Pedestrians walk past a branch of fashion chain Nicole Farhi in central London.
Photographs: Luke MacGregor/Reuters

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Paris

City: Paris

Country: France

Annual rent: $122.10 per sq ft

Overall rank: 10

Annual rent of an office space in Paris is $122.10 per square foot.

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Image: People walk past the Printemps department store in Paris.
Photographs: Charles Platiau/Reuters

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Manhattan

City: New York

Country: United States

Annual rent: $120.65 per sq ft

Overall rank: 11

Annual rent of an office space in New York's Manhattan is $120.65 per square foot.

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Image: A woman uses a shopping bag to keep herself dry from rain in Manhattan, New York.
Photographs: Zoran Milich/Reuters

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Pudong

City: Shanghai

Country: China

Annual rent: $119.50 per sq ft

Overall rank: 12

Annual rent of an office space in Shanghai's Pudong is $119.50 per square foot.

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Image: A man jumps in a swimming pool filled with pink and green plastic balls during a Guinness World Records attempt of the Largest Ball Pit in Pudong, Shanghai.
Photographs: Aly Song/Reuters

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Rio de Janeiro

City: Rio de Janeiro

Country: Brazil

Annual rent: $112.22 per sq ft

Overall rank: 13

Annual rent of an office space in Rio de Janeiro is $112.22 per square foot.

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Image: Tourists take pictures with the Rodrigo de Freitas Lagoon in the background in Rio de Janeiro.
Photographs: Ricardo Moraes/Reuters

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Puxi

City: Shanghai

Country: China

Annual rent: $111.69 per sq ft

Overall rank: 14

Annual rent of an office space in Shanghai's Puxi is $111.69 per square foot.

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Image: A view of Puxi district in Shanghai.
Photographs: Carlos Barria/Reuters

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Bandra-Kurla Complex

City: Mumbai

Country: India

Annual rent: $109.24 per sq ft

Overall rank: 15

Annual rent of an office space in Mumbai's Bandra-Kurla Complex is $109.24 per square foot.

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Image: Workers sit in front of an advertising hoarding in the Bandra-Kurla Complex in Mumbai.
Photographs: Vivek Prakash/Reuters

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Sao Paulo

City: Sao Paulo

Country: Brazil

Annual rent: $105.11 per sq ft

Overall rank: 16

Annual rent of an office space in Sao Paulo is $105.11 per square foot.

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Image: A woman tries on a necklace inside a jewellery store at the Iguatemi mall in Sao Paulo.
Photographs: Nacho Doce/Reuters

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Sydney

City: Sydney

Country: Australia

Annual rent: $104.39 per sq ft

Overall rank: 17

Annual rent of an office space in Sydney is $104.39 per square foot.

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Image: Shoppers leave a store in Sydney's central business district.
Photographs: Daniel Munoz/Reuters

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Downtown

City: San Francisco

Country: United States

Annual rent: $102.00 per sq ft

Overall rank: 18

Annual rent of an office space in San Francisco's Downtown is $102.00 per square foot.

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Image: Participants, dressed in bridal outfits, gather in Union Square during the March of Brides parade through downtown San Francisco.
Photographs: Jana Asenbrennerova/Reuters

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Geneva

City: Geneva

Country: Switzerland

Annual rent: $101.30 per sq ft

Overall rank: 19

Annual rent of an office space in Geneva is $101.30 per square foot.

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Image: A wakeboarder performs on Lake Leman on a hot autumn day in Geneva.
Photographs: Denis Balibouse/Reuters

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Singapore

City: Singapore

Country: Singapore

Annual rent: $98.50 per sq ft

Overall rank: 20

Annual rent of an office space in Singapore is $98.50 per square foot.

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Image: A model presents a creation by Indian designer Devki Karer for label DEVKI's in Singapore.
Photographs: Tim Chong/Reuters

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Central Business District

City: Seoul

Country: South Korea

Annual rent: $97.22 per sq ft

Overall rank: 21

Annual rent of an office space in Seoul's Central Business District is $97.22 per square foot.

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Image: People walk past flowerpots made of old jeans during a recycling campaign at the Myeongdong shopping district in Seoul.
Photographs: Jo Yong-Hak/Reuters

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Downtown

City: Boston

Country: United States

Annual rent: $93.75 per sq ft

Overall rank: 22

Annual rent of an office space in Boston's Downtown is $93.75 per square foot.

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Image: Participants leave the starting line at the annual Running with The Bridesmaids event in Boston, Massachusetts.
Photographs: Brian Snyder/Reuters

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Dubai

City: Dubai

Country: United Arab Emirates

Annual rent: $92.56 per sq ft

Overall rank: 23

Annual rent of an office space in Dubai is $92.56 per square foot.

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Image: People shop in Ibn Battuta Mall in Dubai.
Photographs: Ghazal Watfa/Reuters

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Zurich

City: Zurich

Country: Switzerland

Annual rent: $91.44 per sq ft

Overall rank: 24

Annual rent of an office space in Zurich is $91.44 per square foot.

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Image: People walk past the Jelmoli department store on Zurich's main shopping street Bahnhofstrasse.
Photographs: Arnd Wiegmann/Reuters

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Istanbul

City: Istanbul

Country: Turkey

Annual rent: $86.78 per sq ft

Overall rank: 25

Annual rent of an office space in Istanbul is $86.78 per square foot.

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Image: A view of Istanbul's business district.
Photographs: Murad Sezer/Reuters

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Washington, DC

City: Washington, DC

Country: United States

Annual rent: $86.47 per sq ft

Overall rank: 26

Annual rent of an office space in Washington, DC, is $86.47 per square foot.

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Image: Karli Baumert and Max Cowdery dance underneath water sprinklers at the Lincoln Memorial in Washington, DC.
Photographs: Larry Downing/Reuters

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Perth

City: Perth

Country: Australia

Annual rent: $86.24 per sq ft

Overall rank: 27

Annual rent of an office space in Perth is $86.24 per square foot.

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Image: Shoppers stroll through a central Perth arcade.
Photographs: Tim Wimborne/Reuters

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Yeouido

City: Seoul

Country: South Korea

Annual rent: $83.09 per sq ft

Overall rank: 28

Annual rent of an office space in Seoul's Yeouido is $83.09 per square foot.


Image: A view of Yeouido in Seoul.
Photographs: Woohae Cho/Reuters

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