- Unsplash/Fre Sonneveld
If you think the rent on your flat is expensive, prepare to learn how much your boss is forking out for your office cubicle.
London-based estate agency Knight Frank has studied property values across 40 major cities for the Knight Frank “2018 Global Cities” report.
The report analyses how much prime office space can be bought for US$100 million (£76 million) in different cities in response to the growing trend of private investors who have traditionally invested in residential buildings now looking towards offices.
Despite already-staggering rents in the world’s biggest business hubs continuing to climb, the report discovered that investors and companies continue to focus on and invest in “safe haven” cities – such as London, Zurich, and Tokyo – long established as wealthy cities and business hubs, rather than branching into up-and-coming cities.
Across the capital cities listed, with $100 million (£76 million), investors can bag everything from half the area of Buckingham Palace and its grounds, to the spatial equivalent of just eight IMAX cinema screens.
Scroll on to discover the 16 capital cities and autonomous cities where you’ll pay the most to rent an office, ranked in ascending order on how much office space $100 million would typically get.
16. Kuala Lumpur, Malaysia.
- Unsplash/Pawel Szymankiewicz
In Malaysia’s capital, $100 million (£76 million) will get you 512,385 square feet of office space, which covers 90% of Windsor Castle – the Queen’s main residence.
15. Manila, Philippines.
For $100 million (£76 million), a company or investor can buy 445,739 square feet of office space in Manila. This is half the size of Buckingham Palace and its grounds.
14. Bangkok, Thailand.
- Flickr/Thangaraj Kumaravel
The bustling capital city of Thailand is a favourite amongst travellers and businesspeople alike. In Bangkok, $100 million (£76 million) will buy you 229,244 square feet of office space – the equivalent of two city blocks in Manhattan, New York.
13. New Delhi, India.
- Flickr/Ed Johnson
New Delhi is the capital of India and one of Delhi city’s 11 districts. Located in India’s northern quarter, $100 million (£76 million) of office space can bag an investor 156,304 square feet – two and a half times as big as The White House.
12. Seoul, South Korea.
- Unsplash/Yonghyun Lee
$100 million (£76 million) will bag you 140,608 square feet of office space in South Korea’s capital – approximately the size of a Manhattan city block.
11. Washington D.C., USA.
- Unsplash/Alexey Topolyanskiy
$100 million (£76 million) of office space in Washington, D.C. is equivalent to 30 basketball courts, or just one 15th of New York City’s Grand Central Station. That’s 135,602 square feet.
10. Madrid, Spain.
- Flickr/Felipe Gabaldon
$100 million (£76 million) of office space in Madrid equivalates to 105,730 square feet on average. That’s approximately twice the size of Bill Gates’s family home in Medina, Washington.
9. Beijing, China.
In China’s capital, $100 million (£76 million) will bag an investor 99,563 square feet of office space. That’s one and three-quarter American football fields.
8. Amsterdam, Netherlands.
- Unsplash/Stijn te Strake
Amsterdam has a reputation for being a favourite amongst tourists thanks to its thriving art, culture, and history circuits. The Dutch capital has a thriving business and property scene too, with $100 million (£76 million) of office real estate equivalating to 96,762 square feet on average – that’s just one fifth the size of a Polo field.
7. Berlin, Germany.
- Unsplash/Fre Sonneveld
Competition for office space in Berlin has driven up prices, with investors only bagging 85,170 square feet on average for $100 million (£76 million) worth of space – that’s five American league-approved hockey rinks and a 42% decrease year on year.
6. Dublin, Ireland.
- Flickr/Giuseppe Milo
In the Republic of Ireland’s capital city, $100 million (£76 million) of office space will get companies and investors just 65,717 square feet of office space – the size of Washington D.C.’s White House.
- Unsplash/Lily Lvnatikk
A bustling business scene in this city-island state has driven up office space prices, with $100 million (£76 million) of investment equivalating to 48,389 square feet of space – four times the size of Fort Knox, the US army post where most of the country’s gold is retained.
4. London, UK.
- Unsplash, Rob Bye
London is frequently heralded as one of the most economically powerful cities on earth, and so it’s no surprise that demand for office space in the UK’s capital has driven up prices.
As of this year, $100 million (£76 million) will get investors a mere 43,899 square feet of space. That’s eight basketball courts, half the space that you’d get for the same amount of money in Berlin and a mere tenth of what you can get in Kuala Lumpur.
3. Paris, France.
- Unsplash/John Towner
Apartments and living spaces in the French capital are notoriously small, and so it’s no surprise that demand for office space in Paris is equally high. For $100 million (£76 million), investors and companies can expect to get just 36,662 square feet on average – that would only cover 2% of Grand Central Station in New York City.
2. Tokyo, Japan.
- Unsplash/Steven Diaz
An incredible 38 million people are expected to occupy Japan’s capital by 2030, forecasting it to be the most populated city in the world within 15 years. As a result, demand for real estate – both commercial and residential – is off the charts.
$100 million (£76 million) of office space will bag you just 31,282 square feet on average across the city. That’s the equivalent to 11 tennis courts, or eight IMAX cinema screens.
1. Hong Kong.
- Unsplash/John O’Nolan
Demand for office space in the autonomous state of Hong Kong has driven prices through the roof, making it the most expensive place in the world to buy and rent commercial space.
$100 million (£76 million) equivalates to an average of only 11,698 square feet of space. That’s ten times less than what investors can get for the same amount of money in Shanghai (115,657 square feet), or the spatial equivalent of less than a single floor of the Shard in London.
Based on this figure, the average eight-foot by eight-foot office cubicle costs buyers over half a million US dollars ($547,102).