Hong kong surpasses london for most expensive offices

Hong Kong is now the most expensive place to take office space, according to the latest figures from Knight Frank.

The agent found the prime office rents in central Hong King stood at £97.11 per sq ft pa in Q4 2011 - a 28% increase on the same period in 2010. Prime office rental growth in London's West End - previously the most expensive location in the world - slowed in 2011, after an increase of 31% was recorded in 2010.

Prime office rents rose by 9% in H1 2011, to £92.50 per sq ft pa, but remained unchanged in H2 with leasing activity remaining fairly subdued due to wider uncertainty in the UK economy.

Source: EGI.co.uk