A report by Knight Frank pegs Hong Kong central as the most expensive prime office space in APAC region having a monthly rental of USD 223.3 per square meter. It has increased by 3.2% in the last year.
Tokyo is a major international finance center, having offices of many headquarters of several of the world's largest investment banks and insurance companies. Tokyo is the second most expensive prime office having a monthly rental of USD 99.3 per square meter. The rent has increased by 10.6 per cent in the last year.
Ranked third most expensive as per the Knight Frank report, offices in Singapore pay a monthly rent equivalent to USD 93.5 per square meter. Office rent in Singapore have witnessed tremendous increase of 23.7 per cent in the last 12 months.
Connaught Place in Delhi has been ranked as the fourth most expensive office space in APAC region by Knight Frank.A square meter of prime office space in Delhi's CP commands a rent of USD 82.5 every month. In the last year, rents in CP have increased by 1.4 per cent.
Ranked fifth in the list, Beijing demands a monthly rent of USD 80.5 per square meter. Beijing is the capital of the People's Republic of China and the world's third most populous city. Beijing in 2013 had more Fortune Global 500 Company headquarters than any other city in the world. As per the report, prime office rent in Beijing have seen a dip of 1.1 per cent in the last 12 months.
The capital of South Korea stands sixth in the Knight Frank list with a rent of USD 75.4 per square meter for prime locations. Seoul is the business and financial hub of South Korea. However, it saw the 0.2 per cent decrease in office rentals last year.
Bandra Kurla complex in Mumbai is the seventh most expensive office rental place in APAC region. A square meter of space in Mumbai's BKC demands a rent of USD 75.1 every month. The rent has increased by 5 per cent in the last 12 months.
Shanghai is the largest and the most developed metropolis in mainland China. In Puxi and Pudgong for every square meter of space, offices are paying a rental of USD 64 every month. However the rents in Shanghai have witnessed negative growth of 1 per cent in the last 12 months.
Sydney is the state capital of New South Wales and the most populous city in Australia and Oceania. Standing on the ninth spot in the Knight Frank's list of most expensive office locations in APAC region, offices pay a rental of USD 63.9 per square meter per month. The rents in Sydney have increased by 8.3 per cent in the last 12 months.
Guangzhou is the third biggest city in China. As per the Knight Frank's list CBD in Guangzhou is the tenth most expensive office rental location in APAC region. For every square meter of space, offices are paying a rental of USD 47.3 every month. The rent in Guangzhou has increased by 2.5 per cent in the last year.