London ''most expensive office market in the world'' - commercial mortgages

23 November 2007

The West End in London is the most expensive office market in the world, a new study from CB Richard Ellis has revealed.

The firm''s bi-annual study has revealed that there are no new names in the current top ten, though the order has changed from that seen six months ago.

London occupies two places in the top three, CB Richard Ellis revealed, with West End occupation costs some 82 per cent higher than in the City of London - which nonetheless takes third place in the rankings.

However, according to Bloomberg, Ray Wong from CB Richard Ellis noted that some of the cheaper markets "are enjoying an increase in demand, so they''re going to move up a lot quicker" than more established markets such as London in the coming months.

Some £10.7 bilion was invested in central London real estate in the third quarter of the year, a separate study from the firm recently revealed.