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Connaught Place, world's 9th most expensive office location: CBRE
Last updated on Jul 11, 2018, 01:58 pm
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New Delhi's Connaught Place moved one notch up to become the world's ninth most expensive office location with an annual prime rent of $153.26/sqft from last year's 10th most expensive office location, property consultant CBRE said.
Mumbai's Bandra Kurla Complex (BKC), meanwhile, slipped to 26th position with an annual prime rent of $96.51/sqft from last year's 16th rank.
Read on to know more details.
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Nariman point
Nariman Point slipped to 37th-position from last year's 30th-rank
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Central business district (CBD) of Nariman Point moved down to 37th position commanding an annual prime rent of $72.80/sqft from 30th rank last year.
The consultant released its annual Global Prime Office Occupancy Costs survey.
The cost reflects rent, plus local taxes, and service charges for highest-quality prime office properties.
CBRE's Chairman said Mumbai market is expected to take an upswing in coming months.
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No. 1 position
Hong Kong (Central) topped list of world's most expensive office-locations
![Hong Kong (Central) topped list of world's most expensive office-locations]( "Hong Kong (Central) topped list of world's most expensive office-locations")
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According to the report, Hong Kong (Central) is at the first position with an annual rent of $306.57/sqft, followed by London (West End), Beijing (Finance Street) in China, Hong Kong (Kowloon) and Beijing (CBD) in China.
New York (Midtown-Manhattan) was ranked sixth with an annual rent of $183.78/sqft, while New York (Midtown-South Manhattan) is at 7th position commanding rent of $171.56/sqft.
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Other expensive locations
Tokyo's (Marunouchi/Otemachi) is at 8th-position, while London (City) at 10th
![Tokyo's (Marunouchi/Otemachi) is at 8th-position, while London (City) at 10th]( "Tokyo's (Marunouchi/Otemachi) is at 8th-position, while London (City) at 10th")
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Tokyo (Marunouchi/Otemachi) is at the eighth position and London (City) is at the 10th rank.
Global prime office occupancy costs rose 2.4% year-over-year.
The cost in America was up 3.2%, Europe, Middle East and Africa's by 2%, and the Asia Pacific by 1.7%.
The survey highlighted that prime office occupancy cost growth was consistent across all regions in the past 12 months.
