Singapore's office rents are the seventh most expensive in the world, according to a new international survey of 62 capital cities. The city was equally placed with Beijing in the latest ranking, with annual rents averaging US$910 per square metre. According to the survey by Asia-based real estate agents Richard Ellis, Singapore was much more expensive than Manila (32nd), Kuala Lumpur (47th), Bangkok (53rd) and Jakarta (54th). Rents in Manila, at only $431 per sq m a year, were less than half those of Singapore. Kuala Lumpur was a third of the price. Bangkok and Jakarta were both 28 per cent cheaper. Bombay topped the price survey with equivalent rents exceeding $1,800. Tokyo was $1,300 and Hong Kong a close third at $1,284. Seven of the top 10 most expensive cities in the world were from Asia. Moscow was in fourth place, London's West End fifth, and the City of London 10th. Singapore office rents were up four per cent since the last biannual survey when the city-state was rated the 10th most expensive.
