Rental costs for space have continued to rise in major office markets over the past year, with costs growing by an average of close to 4% in 2017, while the average amount of space per employee has fallen by 32% since 2010.
Increasing recognition by business owners that their workspaces can be a key differentiator in the battle for talent has meant that well-located, premium space, with access to excellent amenities, is in strong demand around the globe.
So where are the most in-demand and expensive office locations?
We've collected new data that shows the most expensive office locations in the world, and revealed the results with an interactive map. First we looked at the annual cost of office space, per square foot, in all of the major cities around the world. We then used the average space needed for each employee, as recommended by TMC, to calculate cost of office space needed for a single employee, each year, in the world's major cities - and the results may surprise you.
If you thought renting a house was expensive, prepare to learn how much employers are forking out on office space per employee every year.
These are the top 10 most expensive office locations around the world:
Check out the full interactive map here which reveals the 50 most expensive office locations around the world.