Tokyo Tops List Of Most Expensive Office Markets
Boston is not among the top 50 most expensive office markets and the cost of occupancy in suburban Boston fell by nearly 30 percent during 2008, according to commercial real estate firm CB Richard Ellis.
Occupancy costs in Boston's suburbs fell by 28.5 percent during the year, placing them among the top five locales for falling prices along with Singapore, Midtown New York and Hong Kong.
Despite its 29.9 percent drop in occupancy costs, Midtown New York remains the most expensive city in the United States for office occupancy at almost $69-per-square-foot.
CBRE, which has an office in Boston, released its semi-annual occupancy costs survey recently. The most expensive city in which to maintain an office is Tokyo, with occupancy costs hitting $183-per-square-foot. Other cities among the most expensive for office space were London's West End, Moscow and Hong Kong.
WBJ Web Partners
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