CLondon office rents are the most expensive in the world, according to recent research. Tokyo, Hong Kong and New York City follow.

In Europe, London overtook Paris, the third most costly location after London West End and London City. The $158.21 per sq ft (£111.68) total office occupancy cost in London West End was more than double that of Paris - $75.03 (£52.96).

According to the annual Global Office Occupancy Costs Survey 2001 by property consultants DTZ, Boston experienced the largest year on year increase (49.06%) - London West End rents went up by 33.21% and London City by 18.75%. Surabaya in Indonesia and Manila experienced the lowest, with rents dropping 40%.

Global head of business space at DTZ, John Forrester, commented on the London figures: "We are very efficient. We do pack staff in like sardines. It started with bomb damaged buildings in the war, which meant that workers had to share smaller and smaller amounts of space.”

www.dtz.co.uk

Jessica Jarlvi