Sydney remains ninth most expensive office rental market in the world: Cushman & Wakefield

The Sydney CBD market has maintained its ninth-placed ranking among the list of the most expensive locations in the world to rent office space.

Occupancy costs include base rent, turnover rent and other outgoings and expenses.

The  top ten list is headed by London’s West End (€2,137 per square metre), which regained its crown from Hong Kong’s Central Business District (€1,505 per square metre),

The biggest upward move was made by Rio de Janeiro’s Zona Sul which went from eighth most expensive office market to third most expensive.

Managing director of Cushman & Wakefield Australia David Woolford says Sydney’s ninth place ranking in terms of global office occupancy costs confirms its position as a world class financial centre.

“This ranking reflects the premium standard of office stock available in Sydney and we expect Barangaroo will raise the bar even higher.

“It is interesting to note there is only a 6-10% differential between the destinations ranked 6 to 10 in this research and Sydney is consistently ranked in the top ten in terms of occupancy costs in the world,” he says.

 Source: Cushman & Wakefield