Perth: 7th most expensive city to rent office space in

Recent research from property services group Knight Frank reveals that Perth has claimed a spot in the top 10 most expensive global cities to rent office space, coming in at number 7 despite failing to even make the top 50 in the previous survey last year.

Knight Frank has indicated an increase in rental prices with regards to office space in Perth, costing approximately $US86.49 per square metre in 2011, as a result of the demand from the mining industry in Western Australia.

Despite hefty increases in rental prices, Knight Frank’s survey also observes that “with office demand weakening, Grade A rents are forecast to soften in 2012.”

Australian city Sydney has also just managed to get its name on the list, coming in at number 10, a position it also achieved in 2010, as to rent office space in Sydney cost tenants an average of $US82.61 per square metre in 2011.

Other cities which make the top 10 include Moscow, Singapore, Paris and Geneva, while Beijing has made the biggest leap having moved 29 places to number 19, and office space in Hong Kong pips London at the post by coming first.

For more information on office space to rent in Australia, or any other global location, talk to Search Office Space now on 0800 524 4649.