Sydney continues to offer lower rental rates for prime office space than many other Asia Pacific business centres. Despite the strong appreciation of the Australian dollar in 2007, annual rental costs for Grade A office space in the Sydney CBD are about a third of those in Tokyo, and half of those in Hong Kong and Mumbai.
Sydney's office infrastructure is of the highest quality. Prime office space offers flexible layouts and large floor plates, multi-zoned air conditioning, security access, car parking, short waiting intervals for lifts and pleasant views.
An improving New South Wales economy, coupled with growing employment and an expanding finance and insurance sector, has created greater demand for office space in the Sydney CBD. Jones Lang LaSalle anticipates that the city should be comfortable in this position for the next couple of years and solid investor conditions will see a stronger supply pipeline.