Singapore has resumed its place in the top ten most expensive office locations in the world according to a report published by Colliers International this week.
Singapore is ranked in ninth place now, up from 15th place just six months ago – a clear indication if one was needed that commercial property prices are continuing to rise in the city state.
The Global Office Real Estate Review noted that Grade A office rents in the Singapore’s central business district continued to trend upwards, with rental growth momentum picking up pace and recording a 16.8 per cent second half from the previous six month period. Singapore registered an occupancy cost of S$7.91 per square foot per month at the end of last year for Grade A CBD office space.
Hong Kong, London’s West End, Tokyo, Paris, London’s City Centre, Rio de Janeiro, Sao Paulo, London’s Southbank and Geneva complete the ranking of the 10 most expensive office locations in the world.
Hoh Chi Minh City in Vietnam is the only other South East Asian city to appear in the top 20 – coming in as the 20th most expensive office location in the world.
Source : Property Report – 15 Apr 2011
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