06 Dec '16, 12am

Singapore slips in ranking of world’s most expensive office locations -

Singapore slips in ranking of world’s most expensive office locations -

E-mail to friend Bookmark & Share Singapore ranked 18th in the world’s priciest office locations this year as rents for premium offices continue to fall amid a challenging economy forcing companies to consolidate and the looming oversupply. The city-state’s ranking eased from the 11th spot last year, JLL’s Global Office Rent Tracker revealed. “Office rents in Singapore continued to ease in 2016 amid the downbeat economy and substantial completion,” said Dr Chua Yang Liang, JLL’s head of Research for Southeast Asia. Hong Kong tops the list with a significant lead in terms of occupancy costs. Hong Kong’s Central district is more than 50 percent higher than rates in London and New York, which ranks second and third respectively. According to the report, it costs US$302 per sq ft per year to rent space in a top–notch building in Hong Kong alongside US$197 per square foot in Lo...

Full article: http://www.commercialguru.com.sg/property-management-news...

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