Auction Properties Property News | Beijing office rents ‘rise 75%’ to top New York

Contribute

If you have a passion for property and would like to write regular features for us we would love to hear from you!

Contribute

Recent Related Stories

Subscribe to Newsletters

Please enter your Email address and we will send you more information:

Advertorial

Advertorials generate leads and build trust in your brand and product offerings. They are a great way to reach a different type of audience to other forms of advertising and give you an ideal opportunity to support a property launch or introduce a new service.

Beijing office rents ‘rise 75%’ to top New York

2/9/2012 5:52:00 AM

Office rents in Beijing are more expensive than New York after rising 75 percent last year as China’s rapid economic growth sparked strong demand, an international real estate company said.

The Chinese capital is now in fifth place for the world’s most expensive office space, with New York’s midtown Manhattan coming sixth, Cushman & Wakefield said in its 2012 rankings released this month.

The top spot was captured by the southern Chinese territory of Hong Kong, followed by London and Tokyo. The Russian capital Moscow was fourth.

“The unprecedented urbanisation process in China and strong economic growth will continue to drive up the demand for office space,” Andy Zhang, managing director of Cushman & Wakefield China, said in a statement.

Source: VancouverSun.com