By Andrew Batt:
Prime office occupancy costs in Bangkok rose 11.3 percent year-on-year, yet the city still ranks well outside the Top 50 global cities according to new research from CBRE Thailand.
Data for the period ending Q1 2012 showed costs for prime office space in Bangkok were THB 800 per sqm per month (equal to US$28.91 per sqft per month) despite a healthy increase. Leading the way with the world’s most expensive prime office costs is Hong Kong’s Central district where prices per sqft are US$248.83 – more than eight times those in the Thai capital.
Office costs in Singapore are the most expensive in Southeast Asia at US$117.39 per sqft per month, ranking the city as the 16th most expensive city globally. Hoh Chi Minh is second in the region at US$63.34 per sqft per month. The Vietnamese city is placed 50th globally.
Bangkok’s 11.3 percent price hike also places the city in 18th place when ranked by the largest year-on-year increases.
More widely, Asia Pacific is responsible for 19 of the world’s most expensive cities for prime office occupancy costs. Globally, costs rose by an average 3.6 percent.
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