Hong Kong and London at the top of the summit: these are the most expensive markets in 2019
Latest news from the real estate world: the office market is becoming increasingly interesting.
According to statistical data, the increase in the cost of offices has been really sudden, bringing to an unprecedented acceleration and, consequently, an economic growth in terms of unprecedented gains.
But which are the most expensive markets and which at the same time were also the most desired in the world? Undoubtedly, to dominate the world scene, Hong Kong Central and London's West End stand out, without forgetting the Midtown of Manhattan in New York.
But let's get into the details.
For Hong Kong we are talking about $ 322 per sq.ft per year, London $ 222.70 and Manhattan $ 196. The costs of occupying Prime Office, such as local taxes and general expenses for the occupation of the office space, are in any case compatible with the very high level of properties guaranteed by this market.
According to the head of Occupational Research at CBRE Americas, the race to attract but above all retain talent, thus guaranteeing the highest quality work environments, has not limited the slower economies of some regions. Indeed, it has further encouraged the latter to adapt to the surrounding ones. The pace of the request has increased exponentially, especially by large banking, financial but also technological and coworking companies.
The percentage increases that were recorded among the top fifteen markets analyzed, even reached the two-digit office occupation costs, as early as the first quarter, unlike last year. And it is precisely the coworking spaces that make this market increasingly attractive to investors.
In terms of percentages, we recall that the following cities have distinguished themselves in this sector:
Porto, Portugal 24%
Cape town, South Africa 20%
Singapore, Singapore 17%
Budapest, Hungary 15%
Mallorca, Spain 14%
Atlanta, US 14%
Vancouver, Canada 13%
San Francisco 12.2%
Johannesburg, South Africa 12%
In general, we can finally say that the United States of America has obtained about 3.7% a very high level if we consider that the average gain of Europe, the Middle East and Africa has reached 3.5% in total.
Why is there this strong interest in the office market?
Without a doubt, a fundamental role is played by the spaces dedicated to coworking, the new frontier of work and, in general, of space management, both in terms of economy and in terms of efficiency.
What can we say, we hope that this positive wave can also include other neighboring and non-neighboring countries, to allow even less developed areas to reach high levels, without being cut off from this circle of extreme real estate virtuosity.
According to statistical data, the increase in the cost of offices has been really sudden, bringing to an unprecedented acceleration and, consequently, an economic growth in terms of unprecedented gains.
But which are the most expensive markets and which at the same time were also the most desired in the world? Undoubtedly, to dominate the world scene, Hong Kong Central and London's West End stand out, without forgetting the Midtown of Manhattan in New York.
But let's get into the details.
For Hong Kong we are talking about $ 322 per sq.ft per year, London $ 222.70 and Manhattan $ 196. The costs of occupying Prime Office, such as local taxes and general expenses for the occupation of the office space, are in any case compatible with the very high level of properties guaranteed by this market.
According to the head of Occupational Research at CBRE Americas, the race to attract but above all retain talent, thus guaranteeing the highest quality work environments, has not limited the slower economies of some regions. Indeed, it has further encouraged the latter to adapt to the surrounding ones. The pace of the request has increased exponentially, especially by large banking, financial but also technological and coworking companies.
The percentage increases that were recorded among the top fifteen markets analyzed, even reached the two-digit office occupation costs, as early as the first quarter, unlike last year. And it is precisely the coworking spaces that make this market increasingly attractive to investors.
In terms of percentages, we recall that the following cities have distinguished themselves in this sector:
Porto, Portugal 24%
Cape town, South Africa 20%
Singapore, Singapore 17%
Budapest, Hungary 15%
Mallorca, Spain 14%
Atlanta, US 14%
Vancouver, Canada 13%
San Francisco 12.2%
Johannesburg, South Africa 12%
In general, we can finally say that the United States of America has obtained about 3.7% a very high level if we consider that the average gain of Europe, the Middle East and Africa has reached 3.5% in total.
Why is there this strong interest in the office market?
Without a doubt, a fundamental role is played by the spaces dedicated to coworking, the new frontier of work and, in general, of space management, both in terms of economy and in terms of efficiency.
What can we say, we hope that this positive wave can also include other neighboring and non-neighboring countries, to allow even less developed areas to reach high levels, without being cut off from this circle of extreme real estate virtuosity.
