The Top 6 Premium Office Markets Around the World

These six top office markets around the world are not only paying for more office space, they are buying their way into the most influential cities. Some of the world’s largest corporations are headquartered in these cities and are some of the people paying the highest rents of upward of $130/SF per year. Let’s take a look at the top six top markets.

6. ShanghaiRent in Shanghai is $135/SF and their vacancy rate is 6.5%. With new supply coming into Shanghai through 2019, they will continue to see steady rents, keeping the market stable although their global ranking has declined a bit.

5. TokyoTokyo’s market continues to strengthen, putting it number five on this list. They are close on the tails of number four, Bejing, and could pass them up if the momentum continues. Rent per square foot is at $153 with a 1.9% vacancy rate.

4. BeijingBeijing is the fourth most expensive office market in the world. Just last year, they were number three on this list. They are recovering, though, as noted by the falling vacancy rate and stabilizing rents.

3. New York (Midtown)New York has eased its way into third place passing up Beijing, who held the spot last year. Rents at $194 per square foot and a vacancy rate of 8.7%, the city is seeing a lot of tech businesses renting up this premium office space. Keep an eye on New York because if they continue at this pace, they could be passing up London at number two next year.

2. LondonLondon has been struggling as of late and occupancy rates declined as a result of some political and financial issues. Vacancy rates are at 4% and rents per square foot are $197. Next year, we may be seeing London and New York switching spots on this list, if London continues the route they are headed.

1. Hong KongHong Kong remains at the top of the list with 1.5% vacancy rate and tenants paying $302 per square foot. There was a large migration of Chinese mainland firms that moved to the area, helping Hong Kong to hold its number one spot.