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Chart of the Week: Office Rents Reaching Ridiculous Highs Across the World

Chart of the Week: Office Rents Reaching Ridiculous Highs Across the World

According to new data from Knight Frank’s Skyscraper Index, annual rents for prime office space are reaching for the skies. The top spot goes to Hong Kong, with a jaw-dropping $225.50 per SF average, with New York a distant second with $153 per SF. Other US cities on the list includes San Francisco ($105/SF), Boston ($75/SF), LA ($73/SF) and Chicago ($68/SF). But, as Forbes points out, New York and Hong Kong’s rents have only grown at a rate of 2% in the six-month-period ending in June. London ($122/SF), on the other hand, has grown 11 percent in the same period with the addition of several new towers and a "buoyant occupier market." [Forbes]