Moscow took eighth place in the ranking of cities with the highest office rents, according to a new report by JLL. When calculating the average cost of rent, analysts took into account the central areas of the world’s major cities, and a nominal rate added related office expenses. The average annual rate calculated in this way for the Russian capital was $1,130 per sqm, less than half that of Hong Kong which topped the list at $2,800 per sqm.
Despite the crisis on the office market in Moscow, premium business centers are still in high demand, reports JLL. London, ranked second, enjoys a vacancy rate of just 2.6 percent. It was followed by Beijing and New York.
