Rental and capital values of office space (1) - Asia Pacific cities, 2008 (A$ per sq. metre)
| City |
Annual gross face rent (2) |
Capital value (3) |
| Hong Kong - Core Central |
3,854 |
73,710 |
| Tokyo - Central Five Wards |
3,778 |
107,931 |
| Singapore |
2,129 |
32,258 |
| Mumbai - CBD |
1,724 |
11,891 |
| Beijing - CBD |
558 |
7,441 |
| Taipei |
419 |
87,400 |
| |
|
|
| Sydney: |
|
| CBD - Premium (4) |
896 |
12,093 |
| CBD |
693 |
8,464 |
| North Sydney |
556 |
6,007 |
| Crows Nest / St Leonards |
481 |
5,187 |
| Chatswood |
471 |
4,212 |
| Parramatta |
405 |
4,036 |
| North Ryde |
369 |
3,951 |
Footnotes:
1 Grade A properties (greater than 10,000 sq. metres in size)
2 Annual total indicative rent paid over the initial lease term including outgoings and government taxes, i.e. total occupancy cost
3 Capital value is based on the indicative gross face rent and indicative initial yield
4 Premium properties (greater than 30,000 sq. metres in size)
Source: CB Richard Ellis Global Research and Consulting (Asian Cities September Quarter 2008, Sydney Cities December Quarter 2008)