Produced by our property specialists, our International Real Estate Guide covers headline economic data, rental values for the office and industrial sectors, and leasing and purchasing costs for key commercial property locations across the world.
Our International Real Estate Guide includes an interactive map containing essential real estate information for each country.
Exchange Rate
Sources
Key
WORLD MAP
Prime Office
USD/sqm/year
Purchase & Leasing Costs
Country Information
Prime Rents
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
Toronto: $575
Montreal: $472
Vancouver: $514
Ottawa: $389
Toronto: $53
Montreal: $44
Vancouver: $48
Ottawa: $36
Toronto: $156
Montreal: $137
Vancouver: $198
Ottawa: $152
Toronto: $15
Montreal: $13
Vancouver: $18
Ottawa: $14
Lease
Purchase
Currency
Population
Annual Population Growth
Capital
City
Corruption Perception
Ranking
GDP
per Capita,
USD
Canadian Dollar
'CAD'
38,516,736
$47,900
0.73%
12
Ottawa
Broker
5% of gross rent for year 1 - 3,
2.5% of gross rent for remainder of lease term (paid by landlord)
Lawyer
As agreed
Stamp Duty
None
Broker
1 - 3% of sale price
Lawyer
As agreed
Stamp Duty
Varies per municipality
Leasing Practice
Typical Lease Terms (years)
5 - 10
Rent Quoted in
CAD/sqft/year
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
1 - 2
Statutory Renewal Rights
No
Basis of Rent Review
Market
Frequency of Review
Upon renewal
Building Insurance
Tenant
Property Taxes
Tenant
Subleasing/Assignment
Negotiable
Restoration
Negotiable
CCI Cost of Construction Index
CLI Cost of Living Index
CPR Corruption Perception Ranking, (least corrupt=1)
CPI Consumer Price Index
OMR Open Market Review
Central Intelligence Agency www.cia.gov
Exchange Rates www.oanda.com
CPR www.transparency.org
Rates as at February 2024
Exchange Rate 1 USD to local currency
Canadian Dollar 'CAD' 1.3412
Mexican Peso 'MXN' 17.1594
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Leasing Practice
Typical Lease Terms (years)
3 - 5 or 5 - 10
Rent Quoted in
USD/sqft/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
1 - 3
Statutory Renewal Rights
No
Basis of Rent Review
Market
Frequency of Review
Annual or prior to
lease expiration
Building Insurance
Landlord & Tenant
Property Taxes
Tenant pays increases
Subleasing/Assignment
Negotiable
Restoration
Negotiable
Country Information
Currency
US Dollar 'USD'
330,665,118
$63,700
24
Washington DC
0.68%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
4% up to 10 years
(paid by landlord)
Lawyer
As agreed
Stamp Duty
None
Broker
1 - 6%
Lawyer
As agreed
Stamp Duty
0.1 - 1.28%
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
NYC: $962
LA: $570
Chicago: $527
Dallas: $452
Houston: $433
Detroit: $307
Washington DC: $575
NYC: $89
LA: $53
Chicago: $49
Dallas: $42
Houston: $40
Detroit: $29
Washington DC: $60
NYC: $253
LA: $225
Chicago: $76
Dallas: $94
Houston: $93
Detroit: $81
Washington DC: $167
NYC: $24
LA: $21
Chicago: $7
Dallas: $9
Houston: $9
Detroit: $8
Washington DC: $16
Prime Rents
USA
Canada
Mexico
USA
Leasing Practice
Typical Lease Terms (years)
3 - 5 or 5 - 10
Rent Quoted in
MXN/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
1 - 2
Statutory Renewal Rights
No
Basis of Rent Review
Mexican Inflation (INPC)
Frequency of Review
Annual
Building Insurance
Tenant
Property Taxes
Landlord
Subleasing/Assignment
Negotiable
Restoration
Negotiable
Country Information
Currency
Mexican Peso 'MXN'
129,875,529
$19,100
126
Mexico City
0.61%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
4 - 5% on year 1 - 5, 2 - 2.5% of remaining term up to 10 years
Lawyer
As agreed
Stamp Duty
None
Broker
4 - 5%
Lawyer
0.5 - 1%
Stamp Duty
2% transfer tax
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
Mexico City:
$382
Monterrey:
$330
Mexico City:
$35
Monterrey:
$31
Mexico City:
$91
Monterrey:
$63
Mexico City:
$8
Monterrey:
$6
Prime Rents
India
Australia
China
Japan
Indonesia
New Zealand
Malaysia
Taiwan
Singapore
Thailand
Vietnam
South Korea
Philippines
Hong Kong
Leasing Practice
Typical Lease Terms (years)
5 - 10
Rent Quoted in
AUD/sqm/year
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
6 - 12
Statutory Renewal Rights
No
Basis of Rent Review
CPI or Fixed 4 - 5%
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Australian Dollar
'AUD'
26,461,166
$49,800
14
Canberra
1.19%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
11 - 16%
Lawyer
As agreed
Stamp Duty
None
Broker
1 - 2%
Lawyer
As agreed
Stamp Duty
Varies
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
Perth: $401
Brisbane: $457
Sydney: $811
Melbourne: $467
Perth: $37
Brisbane: $42
Sydney: $75
Melbourne: $43
Perth: $90
Brisbane: $100
Sydney: $167
Melbourne: $97
Perth: $8
Brisbane: $9
Sydney: $15
Melbourne: $9
Prime Rents
Australia
Australia
Australia
Australia
* Building insurance and property taxes paid by landlord but recovered from tenant
Sources
Exchange Rate
Key
CCI Cost of Construction Index
CLI Cost of Living Index
CPR Corruption Perception Ranking, (least corrupt=1)
CPI Consumer Price Index
OMR Open Market Review
Central Intelligence Agency www.cia.gov
Exchange Rates www.oanda.com
CPR www.transparency.org
New Zealand Dollar 'NZD' 1.6319
Philippine Peso 'PHP' 56.2513
Singapore Dollar 'SGD' 1.3395
Taiwan Dollar 'TWD' 31.2408
Thai Baht 'THB' 35.4386
Rates as at February 2024
Exchange Rate 1 USD to local currency
Australian Dollar 'AUD' 1.5194
Chinese Yuan Renmibi 'CNY' 7.0917
Hong Kong Dollar 'HKD' 7.8179
Indian Rupee 'INR' 83.0670
Indonesian Rupiah 'IDR' 15762.50
Japanese Yen 'JPY' 147.2520
Korean Won 'KRW' 1332.12
Malaysian Ringgit 'MYR' 4.7270
China Leasing Practice
Typical Lease Terms (years)
3 - 5
Rent Quoted in
RMB/sqm/month or
RMB/sqm/day (varies by location)
Breaks
Negotiable
Rent Payment (in advance)
Monthly or Quarterly
Deposit (months’ rent)
3
Statutory Renewal Rights
Yes for std lease,
no for fixed term lease
Basis of Rent Review
OMR
Frequency of Review
2 - 3 years
Building Insurance
Tenant
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
China Country Information
Currency
Chinese Renmibi
'RMB'
1,413,142,846
$17,600
76
Beijing
0.18%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
China Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
8.33 - 12.5%
Lawyer
As agreed
Stamp Duty
0.03 - 2%
Broker
1 - 1.5%
Lawyer
As agreed
Stamp Duty
0.03 - 1%
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
Beijing: $550
Shanghai: $453
Guangzhou: $255
Shenzhen: $311
Beijing: $51
Shanghai: $42
Guangzhou: $24
Shenzhen: $29
Beijing: $102
Shanghai: $84
Guangzhou: $72
Shenzhen: $95
Beijing: $10
Shanghai: $8
Guangzhou: $7
Shenzhen: $9
China Prime Rents
Hong Kong Leasing Practice
Typical Lease Terms (years)
3 - 6
Rent Quoted in
HKD/sqft/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
2 - 3
Statutory Renewal Rights
No
Basis of Rent Review
OMR
Frequency of Review
Every 3 years
Building Insurance
Tenant
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Hong Kong Country Information
Currency
Hong Kong Dollar
'HKD'
7,288,167
$60,000
14
Hong Kong
0.15%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Hong Kong Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
8.33 - 17%
Lawyer
As agreed
Stamp Duty
1% + HKD 5
Broker
1%
Lawyer
As agreed
Stamp Duty
0 - 3.75%
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
$1,094
$102
$249
$23
Hong Kong Prime Rents
India Leasing Practice
Typical Lease Terms (years)
3 + 3 + 3 or 5 + 5 + 5
Rent Quoted in
INR/sqft/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
6 - 15
Statutory Renewal Rights
No but negotiable where
fixed renewal rights
Basis of Rent Review
OMR
Frequency of Review
Annual or every 3 years depending on lease
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
India Country Information
Currency
Indian Rupee
'INR'
1,339,179,585
$6,600
93
New Delhi
0.70%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
India Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
17%
Lawyer
As agreed
Stamp Duty
1 - 10%
Broker
1 - 4%
Lawyer
As agreed
Stamp Duty
3 - 15%
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
New Delhi: $513
Mumbai: $474
Bengaluru: $306
New Delhi: $48
Mumbai: $44
Bengaluru: $28
New Delhi $42
Mumbai: $74
Bengaluru: $48
New Delhi $4
Mumbai: $7
Bengaluru: $4
India Prime Rents
Indonesia Leasing Practice
Typical Lease Terms (years)
2 - 3
Rent Quoted in
IDR/sqm/month
or USD/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
OMR
Frequency of Review
Every 2 years
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Indonesia Country Information
Currency
Indonesian Rupiah
'IDR'
279,476,346
$11,900
115
Jakarta
0.76%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Indonesia Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
3 - 5%
Lawyer
As agreed
Stamp Duty
6,000 Rupiah
Broker
2 - 3%
Lawyer
As agreed
Stamp Duty
5% of Total transaction value
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
$234
$22
$72
$7
Indonesia Prime Rents
Japan Leasing Practice
Typical Lease Terms (years)
2 years Std or 3 - 10 fixed term
Rent Quoted in
JPY/tsubo/month
(1 tsubo=3.3 sqm)
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
12
Statutory Renewal Rights
Yes
Basis of Rent Review
OMR
Frequency of Review
Depends on type and
term of lease
Building Insurance
Tenant
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Japan Country Information
Currency
Japanese Yen
'JPY'
123,719,238
$40,800
16
Tokyo
-0.41%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Japan Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
8.33%
Lawyer
As agreed
Stamp Duty
None
Broker
3% + JPY 60,000
Lawyer
As agreed
Stamp Duty
4% Acq. Tax + 2% Reg.
& Licence Tax
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
$870
$81
$112
$10
Japan Prime Rents
Malaysia Leasing Practice
Typical Lease Terms (years)
3
Rent Quoted in
MYR/sqft/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
None
Frequency of Review
None
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Malaysia Country Information
Currency
Malaysian Ringit
'MYR'
34,219,975
$26,300
57
Kuala Lumpur
1.01%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Malaysia Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
8.33%
Lawyer
As agreed
Stamp Duty
Varies based on Rent
Broker
2.75%
Lawyer
As agreed
Stamp Duty
Varies based on Rent
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
$183
$17
$93
$9
Malaysia Prime Rents
New Zealand Leasing Practice
Typical Lease Terms (years)
6 - 12
Rent Quoted in
NZD/sqm/year
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
OMR
Frequency of Review
2 - 3 years
Building Insurance
Landlord*
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
New Zealand Country Information
Currency
New Zealand Dollar
'NZD'
5,109,702
$42,900
3
Wellington
1.06%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
New Zealand Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
10 - 19%
Lawyer
As agreed
Stamp Duty
None
Broker
1.5 - 3.5%
Lawyer
As agreed
Stamp Duty
NZD 100 Reg Fee
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
Wellington: $429
Auckland: $377
Wellington: $40
Auckland: $35
Wellington: $115
Auckland: $131
Wellington: $11
Auckland: $12
New Zealand Prime Rents
* Insurance paid by LL and recovered from tenant
Philippines Leasing Practice
Typical Lease Terms (years)
3 - 5
Rent Quoted in
PHP/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
OMR
Frequency of Review
Annually
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Philippines Country Information
Currency
Philippine Peso
'PHP'
116,434,200
$8,100
115
Manila
1.58%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Philippines Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
12.5% for 3 years
15 - 17% for 5 years
Lawyer
As agreed
Stamp Duty
Varies based on Rent
Broker
3 - 5%
Lawyer
As agreed
Stamp Duty
1.5%
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
$242
$23
$60
$6
Philippines Prime Rents
Singapore Leasing Practice
Typical Lease Terms (years)
3
Rent Quoted in
SGD/sqft/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly or Quarterly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
OMR
Frequency of Review
None except via rent
review clause
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Singapore Country Information
Currency
Singapore Dollar
'SGD'
5,975,383
$106,000
5
Singapore
0.90%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Singapore Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
8.33%
Lawyer
As agreed
Stamp Duty
0.4% <1 years
0.8% 1 - 3 years
1.6% > 3 years
Broker
1%
Lawyer
As agreed
Stamp Duty
1% on 180k, 2% on next 180k,
then 3% thereafter
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
$1,013
$94
$164
$15
Singapore Prime Rents
South Korea Leasing Practice
Typical Lease Terms (years)
1 - 3
Rent Quoted in
KRW/pyung/month
(1 pyung = 3.3 sqm)
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
10
Statutory Renewal Rights
No
Basis of Rent Review
CPI or Fixed 4 - 5%
Frequency of Review
Annually
Building Insurance
Landlord*
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
South Korea Country Information
Currency
South Korean Won
'KRW'
51,966,948
$44,200
32
Seoul
0.23%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
South Korea Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
8.33%
Lawyer
As agreed
Stamp Duty
None
Broker
1 - 2%
Lawyer
As agreed
Stamp Duty
2.4% Reg Tax &
2.2% Acq. Tax
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
$340
$32
$125
$12
South Korea Prime Rents
* Building insurance and property taxes paid by landlord but recovered from tenant
Taiwan Leasing Practice
Typical Lease Terms (years)
2 - 3
Rent Quoted in
TWD/ping/month
(1 ping=3.3 sqm)
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
2 - 3% after 2nd year
Frequency of Review
None
Building Insurance
Tenant
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Taiwan Country Information
Currency
Taiwan Dollar
'TWD'
23,588,613
$47,800
28
Taipei
0.03%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Taiwan Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
13%
Lawyer
As agreed
Stamp Duty
None
Broker
6.0%
Lawyer
As agreed
Stamp Duty
6% Deed Tax and
0.1% Stamp
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
$372
$35
$179
$17
Taiwan Prime Rents
Thailand Leasing Practice
Typical Lease Terms (years)
3
Rent Quoted in
THB/sqm/month
Breaks
None
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
None
Frequency of Review
None
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Thailand Country Information
Currency
Thai Baht
'THB'
69,794,997
$17,100
108
Bangkok
0.20%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Thailand Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
8.33%
Lawyer
As agreed
Stamp Duty
0.1% + 1% Registration fee
Broker
1 - 3%
Lawyer
As agreed
Stamp Duty
2% Assessed Value +
3.3% Bus. Tax
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
$322
$30
$68
$6
Thailand Prime Rents
Vietnam Leasing Practice
Typical Lease Terms (years)
2 - 3
Rent Quoted in
USD/sqm/month (note: rents converted and paid in VND)
Breaks
Negotiable
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
3 - 6
Statutory Renewal Rights
No
Basis of Rent Review
None
Frequency of Review
None
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Vietnam Country Information
Currency
Vietnamese Dong
'VND'
104,799,174
$10,600
83
Hanoi
0.93%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Vietnam Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
8.33%
Lawyer
As agreed
Stamp Duty
None
Broker
1 - 3%
Lawyer
As agreed
Stamp Duty
1% Reg Fee
Prime Office
USD/sqm/year
Prime Office
USD/sqft/year
Prime Industrial
USD/sqm/year
Prime Industrial
USD/sqft/year
Hanoi: $356
Ho Chi Minh City: $642
Hanoi: $33
Ho Chi Minh City: $60
Hanoi: $173
Ho Chi Minh City: $222
Hanoi: $16
Ho Chi Minh City: $21
Vietnam Prime Rents
Sources
Exchange Rate
Key
CCI Cost of Construction Index
CLI Cost of Living Index
CPR Corruption Perception Ranking, (least corrupt=1)
CPI Consumer Price Index
Central Intelligence Agency www.cia.gov
Exchange Rates www.oanda.com
CPR www.transparency.org
Polish Zloty 'PLN' 4.337
Romanian Leu 'RON' 4.971
Swedish Krona 'SEK' 11.257
Swiss Franc 'CHF' 0.933
Turkish Lira 'TRY' 32.875
Danish Krone 'DKK' 7.454
Emirati Dirham 'AED' 3.9778
Hungarian Forint 'HUF' 384.768
Nigerian Naira 'NGN' 1058.9300
Norwegian Krone 'NOK' 11.337
Rates as at February 2024
Exchange Rate 1 EUR to local currrency
British Pound 'GBP' 0.853
Bulgarian Lev 'BGL' 1.956
Czech Koruna 'CZK' 24.804
Leasing Practice
Typical Lease Terms (years)
3 – 5 or 5 – 10
Rent Quoted in
€/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3 – 6
Statutory Renewal Rights
No
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Tenant
Property Taxes
Tenant
Subleasing/Assignment
Negotiable
Restoration
Negotiable
Country Information
Currency
Euro 'EUR'
8,940,860
$54,100
20
Vienna
0.31%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
25%
Lawyer
As agreed
Stamp Duty
1%
Broker
1 – 3%
Lawyer
0.5 – 1%
Stamp Duty
3.5% plus 1.1% Registry
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€330
€31
€86
€8
Prime Rents
Leasing Practice
Typical Lease Terms (years)
9
Rent Quoted in
€/sqm/year
Breaks
Typically every 3 years
Rent Payment (in advance)
Quarterly but Monthly also now common
Deposit (months’ rent)
6
Statutory Renewal Rights
No
Basis of Rent Review
HI
Frequency of Review
Annual
Building Insurance
Tenant
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Euro 'EUR'
11,913,633
$51,700
16
Brussels
0.55%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
15%
Lawyer
As agreed
Stamp Duty
Registration on cost of tenants (0.2% on rent + charges for time committed)
Broker
1.5 – 3%
Lawyer
As agreed (+21% VAT)
Stamp Duty
10 – 12.5%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€366
€34
€68
€6
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
€/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3
Statutory Renewal Rights
Yes
Basis of Rent Review
CPI
Frequency of Review
Varies
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Bulgarian Lev
'BGL'
6,827,736
$27,000
67
Sofia
-0.66%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
8 – 12.5%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
Varies
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€200
€19
€66
€6
Prime Rents
Leasing Practice
Typical Lease Terms (years)
5 but now 2 – 3 common
Rent Quoted in
€/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Quarterly but Monthly
also now common
Deposit (months’ rent)
3 – 6
Statutory Renewal Rights
Yes
Basis of Rent Review
EI – but fixed sometimes
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
N/A
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Czech Koruna
'CZK'
10,706,242
$40,700
41
Prague
0.10%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10 – 15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
4%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€336
€31
€96
€9
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
DKK/sqm/year
Breaks
Negotiable
Rent Payment (in advance)
Monthly or Quarterly
Deposit (months’ rent)
6
Statutory Renewal Rights
No (Contract runs until
notice is given)
Basis of Rent Review
CPI – often with a
minimum of 2.5%
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Tenant
Subleasing/Assignment
No (unless LL approval)
Restoration
Yes
Country Information
Currency
Danish Krone
'DKK'
5,946,984
$59,900
1
Copenhagen
0.44%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
€200 + 0.6%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€299
€28
€96
€9
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
€/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Euro 'EUR'
5,614,571
$49,400
2
Helsinki
0.22%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
8 – 14%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
1.6 – 4%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€524
€49
€154
€14
Prime Rents
Leasing Practice
Typical Lease Terms (years)
9
Rent Quoted in
€/sqm/year
Breaks
Every 3 years
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
3
Statutory Renewal Rights
Yes
Basis of Rent Review
CCI or ILAT consumer index
Frequency of Review
Annual
Building Insurance
Tenant
Property Taxes
Tenant
Subleasing/Assignment
No (unless LL approval)
Restoration
Yes
Country Information
Currency
Euro 'EUR'
68,521,974
$45,000
20
Paris
0.21%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
15 – 30%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 5%
Lawyer
Notary – up to 0.825%
Stamp Duty
5.09%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€1,000
€93
€80
€7
Prime Rents
Leasing Practice
Typical Lease Terms (years)
5 + 5 Year option to renew
Rent Quoted in
€/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3
Statutory Renewal Rights
No – option to renew for
5 years
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Landlord*
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Euro 'EUR'
84,220,184
$54,000
9
Berlin
-0.12%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
20 – 25%
Lawyer
As agreed
Stamp Duty
N/A
Broker
3 – 6%
Lawyer
1 – 1.5%
Stamp Duty
Berlin: 6%. Frankfurt (Hesse): 5%
Munich (Bavaria): 3.5%.
Hamburg: 4.5%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
Berlin:
€540
Frankfurt:
€570
Munich:
€576
Berlin:
€50
Frankfurt:
€53
Munich:
€54
Berlin:
€94
Frankfurt:
€96
Munich:
€122
Berlin:
€9
Frankfurt:
€9
Munich:
€11
Prime Rents
Leasing Practice
Typical Lease Terms (years)
12
Rent Quoted in
€/sqm/month
Breaks
After 2 years
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
2
Statutory Renewal Rights
Yes
Basis of Rent Review
CPI + 1 – 2%
Frequency of Review
Annual
Building Insurance
Tenant
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Negotiable
Country Information
Currency
Euro 'EUR'
10,497,595
$29,500
59
Athens
-0.35%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
8.33%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1.5 – 2%
Lawyer
1%
Stamp Duty
3%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€348
€32
€62
€6
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
€/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Monthly or Quarterly
Deposit (months’ rent)
3
Statutory Renewal Rights
Yes (subject to contract)
Basis of Rent Review
EI
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Hungarian Forint
'HUF'
9,670,009
$33,600
76
Budapest
-0.33%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10 – 15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
1%
Stamp Duty
4% on price up to €3.33M, 2% on anything above. Shall not exceed €665k
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€304
€28
€70
€6
Prime Rents
Leasing Practice
Typical Lease Terms (years)
5 – 10
Rent Quoted in
€/sqft/year
Breaks
Negotiable
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
0 – 6
Statutory Renewal Rights
Yes (option to opt out)
Basis of Rent Review
OMR - Upward or Downward
Frequency of Review
Every 5 years
Building Insurance
Landlord*
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Euro 'EUR'
5,323,991
$102,500
11
Dublin
1.09%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10%
Lawyer
As agreed
Stamp Duty
Minimal
Broker
1 – 2%
Lawyer
1%
Stamp Duty
2%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€697
€65
€145
€13
Prime Rents
Leasing Practice
Typical Lease Terms (years)
6 + 6
Rent Quoted in
€/sqft/year
Breaks
Negotiable
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
75% of increase in CLI
Frequency of Review
Annual
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
No (yes for intragroup)
Restoration
Yes
Country Information
Currency
Euro 'EUR'
61,021,855
$41,900
42
Rome
-0.11%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10 – 15%
Lawyer
As agreed
Stamp Duty
Varies
Broker
1 – 2.5%
Lawyer
0.4 – 0.6%
Notary fees: 0.2 – 0.5%
Stamp Duty
4%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
Milan:
€695
Rome:
€535
Milan:
€65
Rome:
€50
Milan:
€65
Rome:
€65
Milan:
€6
Rome:
€6
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
€/sqm/month
Breaks
No
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
1 – 3
Statutory Renewal Rights
Yes
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Euro 'EUR'
2,655,755
$39,300
34
Vilnius
-1.04%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
8%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
Varies
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€236
€22
€69
€6
Prime Rents
Leasing Practice
Typical Lease Terms (years)
9
Rent Quoted in
€/sqm/month
Breaks
Every 3 years
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
6
Statutory Renewal Rights
No
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Tenant
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Euro 'EUR'
660,924
$115,700
9
Luxembourg
1.58%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
3%
Lawyer
As agreed
Stamp Duty
Luxembourg City – 10%,
Other 7%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€652
€61
€114
€11
Prime Rents
Leasing Practice
Typical Lease Terms (years)
5
Rent Quoted in
€/sqm/year
Breaks
Negotiable
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Euro 'EUR'
17,463,930
$56,600
8
Amsterdam
0.48%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
12 – 16%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 2%
Lawyer
0.5%
Stamp Duty
6%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€550
€51
€105
€10
Prime Rents
Leasing Practice
Typical Lease Terms (years)
5 – 10
Rent Quoted in
NOK/sqm/year
Breaks
No
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
3 – 6
Statutory Renewal Rights
Not automatic but options
to renew
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Landlord
Property Taxes
N/A
Subleasing/Assignment
Yes (with LL consent)
Restoration
Yes
Country Information
Currency
Norwegian Krone
'NOK'
5,597,924
$67,500
4
Oslo
0.60%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10 – 15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
0.5 – 2%
Lawyer
As agreed
Stamp Duty
2.5%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€538
€50
€174
€16
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 7
Rent Quoted in
€/sqm/month
Breaks
No
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
EI
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Polish Zloty
'PLN'
37,991,766
$34,900
47
Warsaw
-1.03%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10 – 15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
2%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€320
€30
€58
€5
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
€/sqm/month
Breaks
No
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
1
Statutory Renewal Rights
No
Basis of Rent Review
75% – 100% of Inflation
Frequency of Review
Annual
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
No
Restoration
Yes
Country Information
Currency
Euro 'EUR'
10,223,150
$33,700
34
Lisbon
-0.17%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 1.5%
Lawyer
1 – 2%
Stamp Duty
6.5%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€324
€30
€58
€5
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
€/sqm/month
Breaks
No
Rent Payment (in advance)
Monthly or Quarterly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Romanian Leu
'RON'
18,326,327
$32,500
63
Bucharest
-1.01%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
12 – 16%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
0.5 – 1.5%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€246
€23
€56
€5
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5 – 7
Rent Quoted in
RUB or $/sqm/year
Breaks
No (Class A)
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
3
Statutory Renewal Rights
No
Basis of Rent Review
5%
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Tenant
Subleasing/Assignment
No (unless agreed)
Restoration
Yes
Country Information
Currency
Russian Ruble 'RUB'
142,320,790
$26,500
129
Moscow
-0.2%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
8.33%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
N/A
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€490
€46
€59
€5
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
€/sqm/month
Breaks
Negotiable
Rent Payment (in advance)
Quarterly, but negotiable
Deposit (months’ rent)
3 – 6
Statutory Renewal Rights
Yes
Basis of Rent Review
EI – but fixed sometimes
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Euro 'EUR'
5,425,319
$31,900
47
Bratislava
-0.13%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10 – 15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
N/A
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€216
€20
€62
€6
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
€/sqm/month
Breaks
No
Rent Payment (in advance)
Monthly
Deposit (months’ rent)
2
Statutory Renewal Rights
No
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Landlord*
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Euro 'EUR'
47,222,613
$37,900
36
Madrid
0.12%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10 – 15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
3 – 6%
Lawyer
As agreed
Stamp Duty
7%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
Madrid:
€456
Barcelona:
€343
Madrid:
€42
Barcelona:
€32
Madrid:
€74
Barcelona:
€94
Madrid:
€7
Barcelona:
€9
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
SEK/sqm/year
Breaks
No
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
6 – 12
Statutory Renewal Rights
Yes
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Landlord
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Swedish Krona
'SEK'
10,536,338
$55,300
6
Stockholm
0.51%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10 – 15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
2 – 3%
Lawyer
As agreed
Stamp Duty
3%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€784
€73
€102
€9
Prime Rents
Leasing Practice
Typical Lease Terms (years)
5
Rent Quoted in
CHF/sqm/year
Breaks
Negotiable
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
6
Statutory Renewal Rights
Yes (subject to contract)
Basis of Rent Review
CPI
Frequency of Review
Annual
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
Swiss Franc
'CHF'
8,563,760
$71,000
6
Bern
0.78%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
10 – 15%
Lawyer
As agreed
Stamp Duty
N/A
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
0 – 3.3% (varies by canton)
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
Zurich:
€986
Geneva:
€975
Zurich:
€92
Geneva:
€91
Zurich:
€257
Geneva:
€201
Zurich:
€24
Geneva:
€19
Prime Rents
Leasing Practice
Typical Lease Terms (years)
3 – 5
Rent Quoted in
€ or $/sqm/month
Breaks
Yes
Rent Payment (in advance)
Monthly or Quarterly
Deposit (months’ rent)
12 – 24
Statutory Renewal Rights
Yes
Basis of Rent Review
CPI or EI
Frequency of Review
Annual
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
As agreed
Restoration
Yes
Country Information
Currency
Turkish Lira
'YTL'
83,593,483
$33,100
115
Ankara
0.64%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
8 – 12%
Lawyer
As agreed
Stamp Duty
0.98%
Broker
1 – 3%
Lawyer
As agreed
Stamp Duty
4%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
€267
€25
€73
€7
Prime Rents
Leasing Practice
Typical Lease Terms (years)
5 – 10
Rent Quoted in
£/sqft/year
Breaks
Yes
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
3 – 12
Statutory Renewal Rights
Yes (option to opt out)
Basis of Rent Review
OMR
Frequency of Review
Every 5 years
Building Insurance
Tenant
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
Country Information
Currency
British Pound
'GBP'
68,138,484
$46,800
20
London
0.49%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Purchase & Leasing Costs
Lease
Purchase
Broker
7.5 – 10%
Lawyer
As agreed
Stamp Duty
1% of NPV if >£150,000
Broker
1 – 1.5%
Lawyer
0.5%
Stamp Duty
4% over £500,000
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
West End: €1,829
City: €946
Birmingham: €517
Cambridge: €694
Oxford: €788
Prime Rents
Denmark
Turkey
Lithuania
Austria
Slovakia
Czech Republic
United Kingdom
Finland
Sweden
Norway
Russia
Poland
Ireland
Hungary
Italy
Switzerland
Romania
Bulgaria
Greece
Spain
France
Portugal
Belgium
Netherlands
Luxembourg
Germany
United Kingdom
United Kingdom
United Kingdom
United Kingdom
Turkey
Turkey
Turkey
Turkey
Switzerland
Switzerland
Switzerland
Switzerland
Sweden
Sweden
Sweden
Sweden
Spain
Spain
Spain
Spain
Slovakia
Slovakia
Slovakia
Slovakia
Russia
Russia
Russia
Russia
Romania
Romania
Romania
Romania
Portugal
Portugal
Portugal
Portugal
Poland
Poland
Poland
Poland
Norway
Norway
Norway
Norway
Netherlands
Netherlands
Netherlands
Netherlands
Luxembourg
Luxembourg
Luxembourg
Luxembourg
Lithuania
Lithuania
Lithuania
Lithuania
Italy
Italy
Italy
Italy
Ireland
Ireland
Ireland
Ireland
Hungary
Hungary
Hungary
Hungary
Greece
Greece
Greece
Greece
Germany
Germany
Germany
Germany
France
France
France
France
Finland
Finland
Finland
Finland
Denmark
Denmark
Denmark
Denmark
Czech Republic
Czech Republic
Czech Republic
Czech Republic
Bulgaria
Bulgaria
Bulgaria
Bulgaria
Belgium
Belgium
Belgium
Belgium
Austria
Austria
Austria
Austria
Note: measuring practises in the EU may change in line with the EN 15221-6 space and area measurement standard. * Building insurance and property taxes paid by landlord but recovered from tenant. * Insurance paid by LL and recovered from tenant.
* Building insurance and property taxes paid by landlord but recovered from tenant
* Insurance paid by LL and recovered from tenant
* Building insurance and property taxes paid by landlord but recovered from tenant
* Insurance paid by LL and recovered from tenant
West End: €170
City: €88
Birmingham: €48
Cambridge: €64
Oxford: €73
West End: €441
City: €315
Birmingham: €126
Cambridge: €183
Oxford: €214
West End: €41
City: €29
Birmingham: €12
Cambridge: €17
Oxford: €20
International Real Estate Guide
2024
EMAIL ME
Frederic Schneider
Partner
+44 (0)7733 124489
EMAIL ME
Andrew Smith
Partner
+44 (0)7919 326085
EMAIL ME
Scott Harkness
Head of Commercial
+44 (0)7860 360821
EMAIL ME
Iain Mulvey
Business Development Director
+44 (0)7775 562114
Why Carter Jonas?
• Due diligence
• Negotiation and execution
• Financial analysis
FIND OUT MORE
Our firm at a glance
80% of our business comes from repeat clients, something we never take for granted and always work hard to protect
80%
Hover to find out more
Our firm is made up of over 1000
property experts
1000+
We have 23 equity partners
Last year, as a business, we turned over £81m
In the last year, we have sold over £1bn worth of property
£1bn
Carter Jonas was established in 1855
1855
100+
RICS registered valuers
We have 75 chartered building surveyors and project managers
75
We have advised on over 1,500 energy projects
to date
1,500+
We are 12th in the Property Week agency league table
34 offices including 9 in central London
34
DISCOVER MORE RESEARCH
ILAT Indice des loyers des activités tertiaires
EI Eurozone Inflation/ Eurostat Index
HI Health Index
OMR Open Market Review
United Arab Emirates Leasing Practice
Typical Lease Terms (years)
3 - 5
Rent Quoted in
AED/sqft/year
Breaks
Negotiable
Rent Payment (in advance)
Quarterly
Deposit (months’ rent)
5% of rent
Statutory Renewal Rights
No
Basis of Rent Review
OMR, subject to
statutory limits
Frequency of Review
Upon renewal or
subject to notice
Building Insurance
Landlord
Property Taxes
Tenant
Subleasing/Assignment
Yes
Restoration
Yes
United Arab Emirates Country Information
Currency
Emirati Dirham
'AED'
9,973,449
$69,700
26
Abu Dhabi
0.58%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
United Arab Emirates Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
7 - 10%
Lawyer
As agreed
Stamp Duty
AED 175 registration free
Broker
2%
Lawyer
As agreed
Stamp Duty
4% transfer fee
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
Dubai: €825
Dubai: €77
Dubai: €150
Dubai: $14
United Arab Emirates Prime Rents
United Arab Emirates
Nigeria
Nigeria Leasing Practice
Typical Lease Terms (years)
3 - 5
Rent Quoted in
NGN/sqm/year
Breaks
None
Rent Payment (in advance)
Annual
Deposit (months’ rent)
1
Statutory Renewal Rights
Yes
Basis of Rent Review
OMR
Frequency of Review
Via a rent review clause
Building Insurance
Landlord
Property Taxes
Landlord
Subleasing/Assignment
Negotiable
Restoration
Yes
Nigeria Country Information
Currency
Nigerian Naira
'NGN'
230,842,743
$4,900
145
Abuja
2.53%
Population
Annual Population Growth
Corruption Perception
Ranking
GDP
per Capita,
USD
Capital
City
Nigeria Purchase & Leasing Costs
Lease
Purchase
Broker (as % of 1st years rent)
5% of total rental payment
Lawyer
5% of total rental payment
Stamp Duty
0.78 1-7 years, 3% 7-21 years,
6% >21 years
Broker
5%
Lawyer
As agreed
Stamp Duty
1.5%
Prime Office
EUR/sqm/year
Prime Office
EUR/sqft/year
Prime Industrial
EUR/sqm/year
Prime Industrial
EUR/sqft/year
Lagos: €729
Lagos: €68
Lagos: €60
Lagos: €6
Nigeria Prime Rents
Our International Real Estate Guide includes an interactive map containing essential real estate information for each country.
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