The Top Serviced Office Locations
Top 10 Office Space Locations around the World
What is the definition of ‘top’ when looking at looking at office locations? Different people, organisations, and business models have different ideas of what makes a particular office location ideal. There are several factors that are taken into account when choosing a location in which to rent office space. Is proximity to clients and associated enterprises important? How about transport links? Is the quality level of office space, or the perception of style and heritage the deciding factors? Because there are so many factors to choose from, the cost of office space is often used as the comparative scale.
There is a popular fascination with expensive real estate; this is why programs like Million Dollar Listing New York City are so popular, we are drawn to the headlines about how little floor space ‘X’ amount of pounds or dollars gets you in an apartment in London or San Francisco. The same is true of commercial real estate and in particular, office space.
How do we define and compare office cost, should we look at achieved rental price per square foot per year (or per month in parts of Europe such as Spain), as it is priced for traditional office space.
Serviced offices are priced differently; they are priced per desk per month at an all-inclusive rate with office services included. But what services are included? For serviced offices, we would have to distil base property costs, for an accurate comparison with traditional office space for rent.
Some argue that the freehold purchase prices of office buildings should be the deciding benchmark however; this method can become muddied because office buildings often have non-office occupiers such as restaurants, bars or gyms on their lower floors.
Industry-wide, it is now agreed that we should use the achieved rental price per square foot, per annum as the yardstick for comparing office costs for a location. The cost to rent serviced offices is always a reflection of what one would pay for traditional office space for rent.
Below is a list of the most expensive office space locations in the world in 2014. The exact positions fluctuate from year-to-year, depending on deals done the previous year. The top 1 and 2 positions have historically swapped between London’s West End and Hong Kong, however; for the past three years, London’s West End has maintained the top spot and, in the last year, has opened up quite a lead on its closest rival.
- London’s West End – £160 / €218 / $238 (Per Square Foot Per Annum)
- Hong Kong – £111 / €152 / $165
- New York City – £79 / €108 / $118. View examples of serviced offices in New York here (or Executive Office Suites as they are known in the States)
- Rio de Janeiro – £78 /€107 / $116
See examples of serviced offices in Rio de Janeiro here
- New Delhi – £72 / €99 / $107
See a selection of serviced offices in New Delhi here
- Moscow – £71 / €98 / $106
Find some examples of serviced offices in Moscow here
- Tokyo – £70 /€97 / $104
Examples of serviced offices in Tokyo here
- Beijing – £63 /€86 / $94
See a selection of serviced offices in Beijing here
- Sydney – £60 / €82 / $89
A few examples of serviced offices in Sydney here
- Paris – £58 / €80 / $86
See a selection of serviced offices in Paris here
Of course, the figures show the highest rent paid in these locations however; there is always a large variety of choice to suit a range of requirements within all of these locations, drop by theofficeproviders.com for more information.
Official Company Name: The Office Providers