Office rents in London’s skyscrapers are still the highest in Europe and nearly double those in Paris, the second most expensive market, according to Knight Frank’s Global Cities 2018 report.
It says prime rents in London’s skyscrapers remained at $110 (£82.2) per sq ft in the first half of 2017, almost double the rents of tall buildings in Paris at $58 per sq ft and Frankfurt at $54 sq ft.
London is the only European city to make the global top 10 in the ranking.
Hong Kong’s skyscrapers still have the highest rents in the world at $304 per sq ft, followed by New York and Tokyo at $162 per sq ft and $140 respectively.
James Roberts, chief economist at Knight Frank, said: “Since last year London has slipped from fourth to fifth place in the world ranking, and if we keep seeing populist policies that make doing business in the UK more difficult, it is not impossible for London to slide further down the table.
“We need to be mindful during the move towards Brexit of the factors necessary to maintain London’s standing as a leading global business centre in the future.”
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