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
1
10
9
Ranked by prime office occupancy costs in US$ per sq. ft. per annum as of Q1 2019*
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
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.
NEW DELHI (CONNAUGHT PLACE - CBD)
$143.97
LONDON (CITY)
$139.75
HONG KONG (CENTRAL)
$322.00
Top-5 Most Expensive Markets in the Americas
Boston (Downtown)
106.60 occupancy cost
11
New York (Midtown Manhattan)
196.89 occupancy cost
7
5
San Francisco (Downtown)
130.51 occupancy cost
New York (Midtown-South Manhattan)
196.89 occupancy cost
San Francisco (Peninsula)
116.28 occupancy cost
5
2
1
3
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.
4
Source: CBRE Research, Q1 2019.
4
1
New York (Midtown-South Manhattan)
World Rank #7 169.86
17
Boston (Downtown)
World Rank #17 106
13
San Francisco (Downtown)
World Rank #11 130.51
3
San Francisco (Peninsula)
World Rank #13 116.28
2
New York (Midtown Manhattan)
World Rank #4 196.89
Ranked by prime office occupancy costs in US$ per sq. ft. per annum as of Q1 2019*
NEW YORK (MIDTOWN-SOUTH MANHATTAN)
World Rank #7 | $169.86
SAN FRANCISCO (DOWNTOWN)
World Rank #11 | $130.51
BOSTON (DOWNTOWN)
World Rank #17 | $106.60
SAN FRANCISCO (PENINSULA)
World Rank #13 | $116.28
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.
4
*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 APAC
5
San Francisco (Downtown)
130.51 occupancy cost
San Francisco (Peninsula)
116.28 occupancy cost
New York (Midtown-South Manhattan)
196.89 occupancy cost
Beijing (Finance Street)
World Rank #5 187.77
Tokyo (Marunouchi/Otemachi)
World Rank #8 167.82
Beijing (CBD)
World Rank #6 177.05
Hong Kong (Central)
World Rank #1 322.00
Hong Kong (Kowloon)
World Rank #3 208.67
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.
TOKYO (MARUNOUCHI/OTEMACHI)
World Rank #8 | $167.82
BEIJING (CBD)
World Rank #6 | $177.05
BEIJING (FINANCE STREET)
World Rank #5 | $187.77
Boston (Downtown)
106.60 occupancy cost
HONG KONG (KOWLOON)
World Rank #3 | $208.67
11
HONG KONG (CENTRAL)
World Rank #1 | $322.00
New York (Midtown Manhattan)
196.89 occupancy cost
7
4
4
San Francisco (Peninsula)
World Rank #13 116.28
7
New York (Midtown Manhattan)
World Rank #4 196.89
New York (Midtown-South Manhattan)
World Rank #7 169.86
3
5
4
1
2
13
5
Ranked by prime office occupancy costs in US$ per sq. ft. per annum as of Q1 2019*
4
17
3
Boston (Downtown)
World Rank #17 106
2
13
1
San Francisco (Downtown)
World Rank #11 130.51
11
*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
3
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 | $93.48
Stockholm
World Rank #25 93.48
5
Moscow
World Rank #24 94.26
4
Paris
World Rank #16 106.88
London (City)
World Rank #10 139.75
Ranked by prime office occupancy costs in US$ per sq. ft. per annum as of Q1 2019*
2
London (West End)
World Rank #2 222.70
1
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.
5
4
3
2
1
*Occupancy costs include service charges and taxes and are standardized on a net internal area basis; Source: CBRE Research, Q1 2019.