Prime Occupancy Costs Across the World Have Grown
Americas
3.7% (+50 bps)
APAC
3.3% (+160 bps)
EMEA
3.5% (+150 bps)
Year-over-year change in occupancy costs as of Q1 2019
Source: CBRE Research, Q1 2019.
2
LONDON (WEST END) $222.70
4
NEW YORK (MIDTOWN MANHATTAN) $196.89
7
NEW YORK (MIDTOWN-SOUTH MANHATTAN) $169.86
3
HONG KONG (KOWLOON) $208.67
6
BEIJING (CBD) $177.05
8
TOKYO (MARUNOUCHI/OTEMACHI) $167.82
5
BEIJING (FINANCE STREET) $187.77
Top-10 Most Expensive Markets in the World Remain Constant
Ranked by prime office occupancy costs in US$ per sq. ft. per annum as of Q1 2019*
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.
9
NEW DELHI (CONNAUGHT PLACE - CBD) $143.97
10
LONDON (CITY) $139.75
1
HONG KONG (CENTRAL) $322.00
New York (Midtown Manhattan) 196.89 occupancy cost
New York (Midtown-South Manhattan) 196.89 occupancy cost
San Francisco (Downtown) 130.51 occupancy cost
San Francisco (Peninsula) 116.28 occupancy cost
Top-5 Most Expensive Markets in the Americas
NEW YORK (MIDTOWN MANHATTAN) World Rank #4 | $196.89
New York (Midtown-South Manhattan)
SAN FRANCISCO (DOWNTOWN) World Rank #11 | $130.51
SAN FRANCISCO (PENINSULA) World Rank #13 | $116.28
BOSTON (DOWNTOWN) World Rank #17 | $106.60
Boston (Downtown) 106.60 occupancy cost
13
11
17
World Rank #7 | $169.86
Top-5 Most Expensive Markets in APAC
New York (Midtown Manhattan) World Rank #4 196.89
New York (Midtown-South Manhattan) World Rank #7 169.86
San Francisco (Downtown) World Rank #11 130.51
San Francisco (Peninsula) World Rank #13 116.28
Boston (Downtown) World Rank #17 106
HONG KONG (CENTRAL) World Rank #1 | $322.00
HONG KONG (KOWLOON) World Rank #3 | $208.67
BEIJING (FINANCE STREET) World Rank #5 | $187.77
BEIJING (CBD) World Rank #6 | $177.05
TOKYO (MARUNOUCHI/OTEMACHI) World Rank #8 | $167.82
Top 5-Most Expensive Markets in EMEA
LONDON (WEST END) World Rank #2 | $222.70
LONDON (CITY) World Rank #10 | $139.75
PARIS World Rank #15 | $110.02
MOSCOW World Rank #24 | $94.26
STOCKHOLM World Rank #25| $93.48
Top 10 Most Expensive Markets in the World Remain Constant
Hong Kong (Kowloon) 208.67 occupancy cost
London (West End) 222.70 occupancy cost
Hong Kong (Central) 322.00 occupancy cost
Beijing (CBD) 177.05 occupancy cost
Beijing (Finance Street) 187.77 occupancy cost
London (City) 139.75 occupancy cost
New Delhi (Connaught Place - CBD) 143.97 occupancy cost
Tokyo (Marunouchi/Otemachi) 167.82 occupancy cost
New Delhi (Connaught Place - CBD) 167.82 occupancy cost
