January 14, 2005—London has achieved the dubious distinction of retaining its title as the world’s most expensive office location, according to the eighth annual global office occupancy costs survey from DTZ.
The survey provides a guide to accommodation costs in major office locations covering 113 prime business districts in 44 countries worldwide.
Results reveal that London’s West End and Paris remain the two most expensive locations globally, with accommodation costs of $19,330 and $15,520 per workstation pa respectively. The City of London and Washington DC occupy the third and fourth positions. Tokyo is number 6 and New York number 8. Of the top ten locations, seven are western European cities.
DTZ says that most global markets will maintain a positive outlook for 2005. Of the 113 cities analyzed, almost half expect office occupancy costs to rise in tandem with an overall improved business climate, and a further 45% expect costs to stabilize.
For more information, contact DTZ.
Reprinted with permission; copyright 2005 i-FM
