Why is Hong Kong the most expensive office space market in the world? :: Investor.bg

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The Hong Kong office is getting more and more expensive. The city's population, which exceeds seven million inhabitants, has limited population potential, making Hong Kong the most expensive housing market in the world. Nowadays, a number of mainland Chinese companies are moving towards the city and are pushing up the price of expensive office space, said CNBC

The central district of Hong Kong has recently been designated as the market the most expensive in the world. reports a CBRE consulting firm. He was ahead of West End in London and Financial Street in Beijing. "The strong demand badociated with a low vacant space in the central business district has spurred the market and prices have responded," said Tom Gaffney, Hong Kong's regional director. in CBRE

The average cost of the offices in the Central District of Hong Kong is now $ 3293 per square meter per year, 30% more than West End in London, where the average cost per square meter is $ 2529.

"Offering New Office Spaces in Central B Gaffney

Banks and finance are key sectors that stimulate the demand for upscale office space as additional growth, which will strengthen Hong Kong's position as the world's most expensive office market.

Mainland Chinese companies, especially banks, prefer the prestigious Central District when choosing offices, said Gaffney, referring to large transactions finalized in the second quarter [1965901] 0] The region is so popular that the free zones in the central district of Hong Kong are less than 1%, according to CBRE.

The central business districts include large regional centers such as HSBC and JP Morgan, but office rents can increase [19659904] Goldman Sachs plans to move its Central District back office to another part of H ong Kong, indicates a report of the company SCMP