Kiyoko Fujimura

Buzzbuzzhome Corp.
February 23, 2010

Thinking of renting some office space? Well, you should definitely avoid Tokyo which topped the world list for expensive office space ($163.90/square foot in 2009). That means it cost about $160 000 to RENT a 1000 square foot space for the year (GAH!). Also, if you can, avoid London and Hong Kong as they came in 2nd and 3rd respectively.

But, more practical and probably more topical, CBC also announced the Top 5 most expensive places to rent office space in Canada. Vancouver topped the list $29.90 per square foot for 2009 (and that’s after a 26% drop!). Toronto was 4th after a 26% drop this year. But enough beating around the bush. Here’s the list…

1. Vancouver ($29.90 per square foot)
2. Calgary ($28.22 per square foot)
3. Ottawa ($23.46 per square foot)
4. Toronto ($19 per square foot)
5. Montreal ($18.70 per square foot)

Overall, as a world trend, CBC noted:

Indeed, prices were down almost everywhere, with the average price declining by 10 per cent — the first annual decline since 2003. Of 63 major cities covered in the survey, prices declined in 54, held steady in three and rose in only six instances. CBC News

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