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Australian Government Touts Cheap Office Space

SYDNEY-Invest Australia, an inward investment agency set up by the country's federal government in 1997, is promoting itself as having the lowest priced office space in the developed world.

By Brian K. Miller | Updated on January 20, 2004

SYDNEY-The Australian government is marketing itself as the least expensive place to lease office space on the planet thanks to London-based DTZ’s recently released seventh annual survey of office costs.

The survey shows that that the average cost of prime office space in Australia’s major CBDs is the lowest in the developed world and amongst the most competitively priced in the world. Sydney, the most expensive city in Australia, according the survey, is still 35% lower than both New York and Tokyo. The most expensive office location in the world, still the West End of London, is 50% more expensive than Sydney, according to the survey.

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