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Delhi's CP 4th Most Precious Office Hub

London turned its way past Hong Kong to retrieve the title as the world's most high-priced market in which to rent office location, while Rio de Janeiro leaped to the No. 3 place from No. 8, reported to a study by global real estate services firm Cushman & Wakefield.

It was the first time since 2008 that London proceeded the top point. Rivalry for the rare high prime office space in London fueled office rents by 2 percent in the city's West End bolstering rents adequately to progress over Hong Kong, as per the report on Tuesday. Office rents in the West End are hoped-for to proceed to grow as the economy betters, Cushman & Wakefield said.

At 2,137 euros per square meter, London's tenancy price, which includes taxes and charges for cleaning and extra services, are more than double those of Paris, New York and Moscow.

Hong Kong's central business district gone down to second place. But the Zona Sul area of Rio de Janeiro pointed its way into the topmost three of the world's most costly office locations, with rents up 43 percent over last year, the report aforesaid.

Worldly, prime offices building rent increased by 3 percent, the report said. South America, especially Brazil and Colombia, reported for much of that growth, while many markets undergone under continuing economic precarious.

"Safe shelters or gateway cities such as London, Hong Kong and New York keep to command high rents contempt uncertain economic conditions, as they stay key markets in which to do business; while growing population growth has led to rising tenancy costs in emerging markets in South America and Asia," Glenn Rufrano, Cushman & Wakefield president and chief executive said in a report.

Cannaught Place, Delhi bounced to 4th place from 5th for the most expensive office rent space, ahead of Tokyo, Moscow, Beijing etc.

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