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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

And You Thought New York Was Expensive

Associated Press

Prime office space in Moscow, former capital of Soviet socialism, is now three times as expensive as midtown New York and is among the 10 costliest anywhere.

Colliers International Property Consultants said Hong Kong remains the most expensive city ranked by prime commercial annual rent at $136.36 per square foot. Bombay is No. 2 at $123.82, reflecting soaring foreign interest in India’s burgeoning economy. Former leader Tokyo is No. 3 at $101.90, followed by Shanghai at $97.23, Beijing at $90.89, Moscow at $89.45, London at $88.25, Singapore at $81.66, Osaka at $73.38 and New Delhi at $73.20.

For bargain hunters, the best bet is to either go north or Down Under. Perth, Australia, costs $8.81 and Winnipeg, Alberta, costs $8.25. In the United States, the costliest prime space is Washington’s at $33.50 and the cheapest is Houston’s at $12.43. Midtown New York space, by the way, fetches $27.99.