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) 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
Boston (Downtown) 106.60 occupancy cost
13
11
17
SAN FRANCISCO (PENINSULA) World Rank #13 | $116.28
SAN FRANCISCO (DOWNTOWN) World Rank #11 | $130.51
NEW YORK (MIDTOWN-SOUTH MANHATTAN) World Rank #7 | $169.86
BOSTON (DOWNTOWN) World Rank #17 | $106.60
NEW YORK (MIDTOWN MANHATTAN) World Rank #4 | $196.89
Top-5 Most Expensive Markets in APAC
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
TOKYO (MARUNOUCHI/OTEMACHI) World Rank #8 | $167.82
BEIJING (CBD) World Rank #6 | $177.05
BEIJING (FINANCE STREET) World Rank #5 | $187.77
HONG KONG (KOWLOON) World Rank #3 | $208.67
HONG KONG (CENTRAL) World Rank #1 | $322.00
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 #16 106.88
Moscow World Rank #24 94.26
Stockholm World Rank #25 93.48
STOCKHOLM World Rank #25 | $93.48
MOSCOW World Rank #24 | $94.26
PARIS World Rank #15 | $110.02
LONDON (CITY) World Rank #10 | $139.75
LONDON (WEST END) World Rank #2 | $222.70
