Premium Office Rent Tracker 2022
Premium office rents rise in 2022
The Premium Office Rent Tracker (PORT) 2022 ranks occupation costs across 134 major office markets in 116 cities. This year, Hong Kong (Central) retained the top position as the most expensive premium office market, with New York (Midtown), London (West End), Beijing (Finance Street) and Silicon Valley rounding off the top five.
The Tracker provides a useful barometer of relative occupancy costs and is JLL’s benchmark view on the best achievable office rent in the world’s top markets. It highlights the most expensive office locations and markets that offer the best value globally and by region, as well as key trends to watch.
Key trends
Flight to quality evident as premium office rents increase
Premium office rents grew by 4.8% over the year highlighting ongoing demand for top quality product at a time when many companies are reassessing their office needs.
Green accreditation a de facto requirement of premium offices
95% of buildings in high end markets have a sustainability certification, underscoring the importance of green credentials in the premium sector, especially in the world’s top-tier cities.
Finance dominates demand in high-end markets
The flight to quality by banking and finance companies is especially evident in high-end markets accounting for 72% of demand. Technology and professional and business services firms also continue to drive premium office occupancy costs.
