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London Office Rents Still Dearest Worldwide

CANNES-London remains the world's most expensive city for office space, says a new survey by Healey & Baker. Tokyo is in second place and Paris moves up to third

By Charlie Jacoby | Updated on March 15, 2002

CANNES-London has retained its position as the world’s most expensive city for office space, according to Business Space Across The World , the annual report by property consultant Healey & Baker and its global partner Cushman Wakefield.

Occupiers of prime office space in London can expect to pay average total occupancy costs, including rent, property taxes and service charge, of €160 ($141) per sf a year. Tokyo retains its second place at €113 ($100) and Paris has moved into second place with €92 ($81). While both London and Tokyo have seen a decline in rents over the year, London has increased its lead over other cities.

The research looks at 45 countries, analysing the total costs of occupying office space in 100 locations.

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