Hong Kong replaces London as most expensive office market

Hong Kong has replaced London’s West End as the world’s most expensive office market, according to Cushman & Wakefield’s Office Space Across the World report. The cost of a London workstation has fallen by 19% since 2016 to an average of $22,665 (£17,000) – although this is still 25% more expensive than a workstation in Tokyo, which ranks third globally at $18,111. Meanwhile, Hong Kong’s costs rose by 5.5% to $27,431. The average annual cost of a workstation across the globe rose by 1.5% in the past 12 months, although it fell by 1.3% in EMEA. Currency fluctuations were responsible