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.
Prime Occupancy Costs Across the World Have Grown
Year-over-year change in occupancy costs as of 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)
$322.00
4
New York (Midtown Manhattan)
196.89 occupancy cost
7
New York (Midtown-South Manhattan)
196.89 occupancy cost
San Francisco (Downtown)
130.51 occupancy cost
San Francisco (Peninsula)
116.28 occupancy cost
Top-5 Most Expensive Markets in the Americas
Ranked by prime office occupancy costs in US$ per sq. ft. per annum as of Q1 2019*
Boston (Downtown)
106.60 occupancy cost
13
11
17
Source: CBRE Research, Q1 2019.
4
SAN FRANCISCO (PENINSULA)
World Rank #13 | $116.28
3
SAN FRANCISCO (DOWNTOWN)
World Rank #11 | $130.51
2
NEW YORK (MIDTOWN-SOUTH MANHATTAN)
World Rank #7 | $169.86
5
BOSTON (DOWNTOWN)
World Rank #17 | $106.60
1
NEW YORK (MIDTOWN MANHATTAN)
World Rank #4 | $196.89
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.
4
New York (Midtown Manhattan)
196.89 occupancy cost
7
New York (Midtown-South Manhattan)
196.89 occupancy cost
San Francisco (Downtown)
130.51 occupancy cost
San Francisco (Peninsula)
116.28 occupancy cost
Top-5 Most Expensive Markets in APAC
Ranked by prime office occupancy costs in US$ per sq. ft. per annum as of Q1 2019*
4
New York (Midtown Manhattan)
World Rank #4 196.89
7
New York (Midtown-South Manhattan)
World Rank #7 169.86
11
San Francisco (Downtown)
World Rank #11 130.51
San Francisco (Peninsula)
World Rank #13 116.28
5
Boston (Downtown)
World Rank #17 106
Boston (Downtown)
106.60 occupancy cost
13
11
17
13
1
Hong Kong (Central)
World Rank #1 322.00
2
Hong Kong (Kowloon)
World Rank #3 208.67
3
Beijing (Finance Street)
World Rank #5 187.77
4
Beijing (CBD)
World Rank #6 177.05
5
Tokyo (Marunouchi/Otemachi)
World Rank #8 167.82
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.
5
TOKYO (MARUNOUCHI/OTEMACHI)
World Rank #8 | $167.82
4
BEIJING (CBD)
World Rank #6 | $177.05
3
BEIJING (FINANCE STREET)
World Rank #5 | $187.77
2
HONG KONG (KOWLOON)
World Rank #3 | $208.67
1
HONG KONG (CENTRAL)
World Rank #1 | $322.00
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.
Top-5 Most Expensive Markets in EMEA
Ranked by prime office occupancy costs in US$ 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.
1
London (West End)
World Rank #2 222.70
2
London (City)
World Rank #10 139.75
3
Paris
World Rank #16 106.88
4
Moscow
World Rank #24 94.26
5
Stockholm
World Rank #25 93.48
5
STOCKHOLM
World Rank #25 | $93.48
4
MOSCOW
World Rank #24 | $94.26
3
PARIS
World Rank #15 | $110.02
2
LONDON (CITY)
World Rank #10 | $139.75
1
LONDON (WEST END)
World Rank #2 | $222.70
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.