London, Tokyo Are Most Expensive Office Markets, Says CB Richard Ellis

SAN JOSE-The cheapest class A office space in the world? Harare, Zimbabwe, where class A office space can be had for a paltry $4.40 per sf including rent, real estate taxes, utility charges, and other operating costs, according to a new study by CB Richard Ellis Services Inc.

At the other end of the spectrum is London’s West End, where the market commands $156.89 per sf, and Tokyo’s Inner and Outer Central Districts, the No. 2 most expensive market, where class A space goes for $147.05 per sf and $127.54 per sf, respectively.

The study, which covered the last quarter of 2000, ranked 154 markets. Other markets in the top 10 include London, Hong Kong, Paris and Bombay, India.