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Hong Kong beats Singapore again as second most expensive location in Asia Pacific
Tokyo remains the most expensive location having occupancy cost of US$105.09 per sq ft per annum.
According to Colliers International, though Singapore's office occupancy costs grew the fastest in the region in 4Q 2010, it maintains its competitiveness against its closest rival, Hong Kong, with some 30% differential.
Hong Kong, on the other hand, has closed the gap with Tokyo's office occupancy costs, rising 8.5% QoQ to reach US$105.05 per sq ft per annum - buoyed by sustained expansionary demand in their financial sector amid the continued supply squeeze in the CBD. Hence, as of 4Q 2010, they are just US$0.04 below Tokyo's occupancy cost of US$105.09 per sq ft per annum.
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