Wilef

New figures released show that the West End of London has overtaken Tokyo as the most expensive location in the world to rent office space.
A survey looked into the commercial property markets and office rental costs in 105 international markets and found that the cost of renting West End London office space reached £85 per square ft by the end of 2010, which is a 31% increase on prices at the start of the year. Since the end of 2010, rents in the West End have continued to increase and have now reached £90 per square ft.
Second place Tokyo had overtaken the West End in 2009 following the collapse of Lehman Brothers, but the weak economic overlook for Japan has led to higher vacancy rents and rents falling. City of London office rental was also in the top 10 most expensive places in the world, with the list completed by Hong Kong, Moscow, Paris, Singapore, Sydney, Mumbai and Lagos.
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