Hong Kong clinches the top spot for the second consecutive year.
Asia Pacific markets secure seven of the world’s top 10 most expensive premium office rental locations, according to JLL’s Premium Office Rent Tracker.
Premium office refer to units over 10,000 square feet in the highest quality building in the city’s premier office district.
Hong Kong left the other markets in the dust as high levels of firm demand and supply shortages boosted its premium office rents in Central submarket to an average of US$323 per square feet annually.
Four other business districts from China also secured a place in the top 10 with Futian district in Shenzen entering the top 10 for the first time.
“China’s strong market fundamentals have led to Hong Kong’s Central, Beijing’s Finance Street, Beijing’s CBD, Shenzhen’s Futian and Shanghai’s Pudong making the list,” says JLL Asia Pacific Managing Director Jeremy Sheldon.
JLL also pointed out that cities with strong tech presence like Beijing and Tokyo have some of the highest premium office rents as they increasingly upgrade their office premises from serviced and Grade B offices to proper and Grade A spaces.
Delhi snags the sixth spot at $147 psf and Marunouchi in Tokyo seals APAC’s domination at ninth place at $138 psf.
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