Office space in London no longer the most expensive
Office space in Hong Kong has taken over office space in London as the most expensive in the world, according to Official Space.
Just last year the price of office space in London’s West End outranked its Far Eastern counterparts, but not the tables have turned, and it seems to be a comparative bargain to rent serviced offices or office space in the capital.
Demand for offices in Hong Kong is set to increase by up to 15 per cent over the coming years, compared with a six per cent rise in demand in London.
Hong Kong has enjoyed a boom in demand for space in recent years, which has seen many offices spring up around the city.
As well as traditional office blocks, there has also been a green office building boom, Asia Property reports.
The news provider reported that around 50 per cent of companies in Hong Kong and beyond said they would be willing to pay more for offices which are environmentally sound, in a bid to show they are aware of corporate social responsibility and improve their image.