March 02, 2018 / By

The 7 Most Expensive Office Markets in Asia

According to CBRE’s semi-annual Global Prime Office Rents survey, Asian office markets have dominated in rent prices. The survey showed that cities with IT and media hubs had the strongest growth in prime rents, largely thanks to co-working spaces. It also stated that while Asian markets were high, other markets had shown more steady growth.

Here we will list the Top 7 most expensive Office market in Asia

  1. Hong Kong (Central), Hong Kong: Annual rent of $269.26 per square foot

By Hankt (Own work) [GFDL or CC BY 3.0], via Wikimedia Commons

  1. Beijing (Finance Street), China: Annual rent of $174.07 per square foot

By Pseudotriton at English Wikipedia (Original text: “I took this photo in Dec 2005.”) [Public domain], via Wikimedia Commons

  1. Hong Kong (West Kowloon), Hong Kong: Annual rent of $163.57 per square foot

  1. Beijing (CBD), China: Annual rent of $151.87 per square foot

By Morio (Own work) [CC BY-SA 4.0], via Wikimedia Commons

  1. Tokyo (Marunouchi/Otemachi), Japan: Annual rent of $132.09 per square foot

By 663highland (Own work) [GFDL, CC-BY-SA-3.0 or CC BY 2.5], via Wikimedia Commons

  1. Shanghai (Pudong), China: Annual rent of $120.11 per square foot

By PierreSelim (Self-photographed) [CC BY 3.0, FAL or GFDL], via Wikimedia Commons

  1. New Delhi (Connaught Place – CBD), India: Annual rent of $110.85 per square foot
As you can see Hong Kong holds two of the top three most expensive office markets with Hong Kong’s (Central) having overall prime office rent of US$269 per sq. ft. per year. Beijing (Finance Street) followed with US$174 per sq. ft. and Hong Kong (West Kowloon) came in third with US$164 per sq. ft.

This survey shows us that the value of the Asian market is continuing to increase and will continue to grow in the near future. Ada Choi, Director of Research, CBRE Asia Pacific, said, “Prime office rentals are growing firmly at the top end of the market, reflecting strong demand for premium space across Asia Pacific. We are seeing prime office rental growth outstripping the overall market performance.”