Paying the Price for Office Space

Tokyo remains the most expensive office market in the world, though growth in demand from computer and Internet-related companies has U.S. cities quickly closing the gap, according to a study by CB Richard Ellis Services Inc., the world’s largest property brokerage firm. At No. 9, San Francisco is the highest- priced U.S. city and the first U.S. city to crack the top 10. The top 10 cities with the most expensive office space:

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Leasing cost City (area) per square foot/year 1. Tokyo (Inner central) $155.23 2. Tokyo (Outer central) 134.21 3. London (West End) 133.54 4. London (City) 103.35 5. Hong Kong 80.86 6. Bombay, India 77.40 7. Seoul 67.61 8. Paris 65.17 9. San Francisco 64.70 10. Edinburgh, Scotland 61.59

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Source: Bloomberg News