London Commercial Property Ranks #1
Last week’s General Election may have sparked concerns amongst property advisors about the stability of UK property prices during the coming year, but a recent survey by CB Richard Ellis Global Office Rents suggests otherwise.
During their survey, London commercial property ranked #1 amongst other property investments, supplying the most expensive office rentals in the world – more than 3 times the rental income of Midtown New York!
But that is not all…
During their survey, they revealed that to rent commercial property investments in London’s West End, property investors could expect to pay annual rents of as much as £123.14 per square foot, whilst in other countries:
· Hong Kong’s Central Business District costs £96.88 per sq ft
· Mumbai costs £84.59 per sq ft
· Moscow costs £84.15 per sq ft
· Midtown Manhattan costs £43.38 per sq ft
Comparing the rental values of 176 cities across the world, it is undeniable that London has got the strongest rental values around. Comparing London to Hong Kong, London supplies more than £25 per sq ft annually.
However, despite London’s growing dominance across the commercial property sector, rental values are still down on their 2007 peak with only 33 out of the 176 markets rising in value…
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Tags: commercial property, commercial property investment, property advisors, property investment, property investors, property prices
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