76979
HK Offices World’s Most Expensive
HK Offices World’s Most Expensive

HK Offices World’s Most Expensive

HK Offices World’s Most Expensive

Hong Kong has replaced London as the most expensive city for businesses to set up office thanks to the depreciation of British pound and aggressive expansion of mainland companies, survey shows, Nikkei reported. Rental costs per desk for prime office buildings in locations such as Central, Sheung Wan and Admiralty rose 5.5% from last year to $27,432 in 2017. Conversely, the equivalent cost in London’s West End plummeted by 19.2% from a year ago to $22,665, according to statistics compiled by real estate consultancy Cushman & Wakefield. Tokyo ranked third, unchanged from last year. The high office rental costs in Hong Kong have been a headache for executives at international companies who want to expand businesses into Asia. For the cost of housing 100 staff in Hong Kong, 600 can be accommodated in Shenzhen, a Chinese city that borders Hong Kong. Mainland companies’ aggressive global expansion has contributed to the rise of Hong Kong’s ranking this year.

Short URL : https://goo.gl/YgqihZ
  1. https://goo.gl/XBKcMq
  • https://goo.gl/zqRJda
  • https://goo.gl/bpzcS5
  • https://goo.gl/Aoio5V
  • https://goo.gl/7AyTm5

You can also read ...

US Economy Back on Top of World Competitiveness Ranking
Marking its 30th edition this year, the IMD World...
Some 96% believe that bribery and corruption was an important issue to tackle.
Almost one out of two large global companies experienced some...
China Debt Crackdown Leaves Institutions Short of Cash
China is cutting off funds to financial companies and banks...
Deutsche Bank Will Cut 7,000 Jobs
Deutsche Bank said on Thursday it will reduce global staff...
Taiwan Growth Forecast Upgraded to 2.6%
The directorate general of budget, accounting and statistics...
Turkey Raises Rates Sharply to Prop Up Lira
Turkish President Recep Tayyip Erdogan is facing a potentially...
Two Oman Banks Discuss Merger
Oman Arab Bank has initiated merger talks with fellow Muscat-...
MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.
Market sentiment was a little shaky on Friday with Asian...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus