November 6, 2015
Looking to rent prime office space? According to Knight Frank’s Skyscraper Index, Hong Kong is the most expensive city to do so. Rent per square foot annually in the city is $255.50, followed by $153 a square foot for office space in New York.
Both cities only saw a 2 percent rent growth over six months, but London saw a major increase of 11 percent, bringing it to $122 a square foot in a high-rise. The strong growth is attributed to new development and an actively changing occupier market.
The cheapest square foot for office space goes to Chicago at $68, with Los Angeles not far behind at $73.