HOUSTON - Downtown Houston office market ranks No. 47 in rent/occupancy costs worldwide, the CBRE Global Price Office Occupancy Costs Survey reported. It is the highest priced office market in Texas.
Among U.S. cities, New York was at $127 per sf; San Francisco was at $114 and Downtown Houston was at $62.50.
London office buildings have the highest office rents/occupancy costs in the world, while Hong Kong is second according to a new study by CBRE Group.
Markets with the fastest growing office space occupancy costs are Dublin, Seattle and Panama City, according to CBRE Research's study.
The rankings are based on “occupancy cost” — which represents rent, plus local taxes and service charges.
Read more at Realty News Report.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.