Login
ISCOVER
Three Australian cities have been named among the top 50 most expensive office markets in the world, although they are far cheaper than the leaders.
Sydney, Perth and Brisbane all made the list, which was based on a survey of the office occupancy costs of 126 cities, conducted by property multinational CBRE.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Sydney placed 19th with an average cost of US$99.06 ($122.09) per square feet per annum.
Perth finished 31st on US$77.02, followed by Brisbane at 46th on US$67.43.
Asia Pacific cities occupied 20 spots on the list, including seven of the top 10 places.
London West End led the world with an average cost of US$273.63, followed by Hong Kong Central on $250.61.
The top five was rounded out by Beijing Finance Street on US$197.75, Beijing CBD on US$189.39 and Moscow on US$165.05.
The next five places were filled by New Delhi Connaught Place, Hong Kong West Kowloon, London City, Tokyo Marunouchi Otemachi and Shanghai Pudong.
Dublin recorded the biggest increase in occupancy costs for the 12 months to 30 September 2014, jumping 34.9 per cent.
Next came Manila with 20.7 per cent, Seattle with 20.5 per cent, Kuala Lumpur with 16.7 per cent and Singapore with 16.5 per cent.
Occupancy costs were calculated by adding rents, local taxes and service charges.
[Related: Australia a world leader in property price growth]
